Jan.11 -- U.S. credit markets are finally thawing. The high-yield market saw its first new issue in six weeks on Thursday, the same day that investors poured in nearly $40 billion of orders for a bond offering from AB Inbev. And leveraged loan outflows are abating, helping prices recover across the board. Lisa Hornby, U.S. fixed-income portfolio manager at Schroders, Tom Atteberry, portfolio manager of First Pacific Advisors, and Mary Bowers, senior portfolio manager at HSBC Global Asset Management, talk with Bloomberg's Jonathan Ferro about the return of issuance, the pros and cons of high-yield and the underperformance of investment-grade.