Interest in fixed income has increased over the past year after rising bond yields put them back on investors' radars.
Related storiesCorporate bonds with high yields are the new darling as investors dig for returns that beat inflation, Klein said.
The Bloomberg US Corporate High Yield Index, a measurement of non-investment grade bonds, has a yield to worst (a measure of the lowest possible yield) of 7.65% and a one-year total return of 12.9%.
It's unusual for equities to be doing very well and high yield to be doing poorly, he added.
But buyers beware: high-yield bonds are also called non-investment grade and junk bonds, and it's for good reason.
Persons:
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