michael cloherty, bonnie wongtrakool, scott kimball.et a market check on where bonds have been in this week. 2, 10, 30 all getting tighter. people piling into bonds cannot get enough of them. still ahead the final spread. , the weekend features the 19th chinese communist party congress. the country's most important political events that only occurs twice a decade. this is "bloomberg: real yield." ♪ ♪ lisa: i'm lisa abramowicz. this is "bloomberg: real yield." time for the final spread. coming up over the next week, fed chair janet yellen takes part of a group of 30 international banking seminar. catalonia faces a deadline regarding its independence. greek prime minister alexis tsipras visits the white house. morgan stanley and goldman sachs report earnings, and china holds its 19th part communist party congress the country's , most important political event. still with us is michael cloherty, bonnie wongtrakool, and scott kimball. i want to talk more about what you were talking about, bonnie, with respect to shifting away from high-yiel

with us, michael cloherty, bonnie wongtrakool and scott kimball.ck by what you all are saying to me and what we hear again and again. you just don't see the risk. people will continue to buy bonds. we saw the biggest weekly inflow over the past week since 2015. it makes me wonder why not lever up? for your money into absolutely anything risky you can find. michael: sadly i think we have seen people doing that. unfortunately is the people out of the most stress. retirees they need some income. other people like that were at least able to sustain the loss. pension funds, other funds. lisa: are you seeing pension up?s letter up -- lever michael: it is really corporates, things like that. you are forced to chase yield because you have to meet some target. you have to pay retirees. you have to meet earnings targets. began do that buying treasuries so you are forced to buy out the scale. lisa: are you more willing to use leverage? fund, itr our bond does not use leverage as a tool. we move around between 80% investment great securities with the opportuni

michael cloherty, bonnie wongtrakool, scott kimball.et a market check on where bonds have been in this week. all getting tighter. people piling into bonds cannot get enough of them. the final spread. the weekend features the 19th chinese communist party congress. the country's most important political event only occurs twice a decade. this is bloomberg real yield. ♪ ♪ lisa: i'm lisa abramowicz. this is "bloomberg real yield." time for the final spread. fed chair janet yellen takes part of a group of 30 international banking seminar. catalonia faces a deadline regarding its independence. greek prime minister alexis tsipras visits the white house. goldman sachs reports earnings, and china holds is 19 party congress, the country's most important political event. still with us is michael cloherty, bonnie wongtrakool, and scott kimball. i want to talk more about what you are talking about with respect to shifting away from high-yield credit in the u.s. moving more to emerging markets. how are you doing that? recently, an increasing number of