High yield bond funds tout sweet yields, but swirling concerns around the economy are spurring questions on how much longer the income party will last. Consider that the 30-day yield on the SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) is 8.78%. Indeed, the Morningstar U.S. high yield bond index has a year-to-date total return of 4.61%, compared to the -1.29% total return on Morningstar's U.S. corporate bond index . Consumers are also a focal point when it comes to the economic outlook, according to Peter Higgins, head of fixed income and senior fixed income portfolio manager at Shelton Capital Management. Being selective about risk UBS is neutral on high yield overall, but positive on short-dated high yield paper of good quality companies.

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Persons: Paul Olmsted, Olmsted, Alina Golant, Golant, Peter Higgins, Dow Jones, Shelton's Higgins, Morningstar's Olmsted, Michael Bloom Organizations: Investors, Federal Reserve, Morningstar U.S, Morningstar's, Morningstar, UBS, Shelton Capital Management