abstract:In road transport, a yield (Canada, Ireland, South Africa, South Korea and the United States) or give way (United Kingdom, other Commonwealth and English-speaking countries) traffic sign indicates that each driver must prepare to stop if necessary to let a driver on another approach proceed. A driver who stops has yielded the right of way to another.
That is a sign that high-yield bonds look expensive, at least relative to stocks, says Edward Marrinan, head of macro credit strategy at RBS Securities in Stamford, Conn.