Looking for yield? This could be one of the best times in recent market history to buy corporate bonds

Looking for yield? Investing experts say now may be one of the best moments in recent market history to buy corporate bonds. With the 10-year Treasury yield still flirting around 5% and the Federal Reserve expected to hold steady on rates at its FOMC meeting on Wednesday, fixed income experts say the environment for highly rated investment-grade corporates is attractive — some have called it a "generational opportunity." Leading the market are hyperscalers including Alphabet, Amazon, Meta and Microsoft, companies that have been aggressively issuing debt for artificial intelligence projects, including buying chips and building data centers and power plants to run them. "You're typically not able to buy AA [and similarly rated] companies at these attractive yields," said Steven Purdy, group managing director and co-head of global credit at TCW in Los Angeles, which manages over $150 billion in fixed income investments. Nevertheless, investors need to be cautious as cash flow is under pressure at even the most cash-rich companies in the market — Meta's free cash flow just went negative for the first time since its 2012 IPO. For investors looking to the bond market for income opportuni...