BHK: Ravaged By Higher Rates, Will Remain Under Pressure

BlackRock Core Bond Trust (BHK) is rated 'Sell' due to macro headwinds and unsustainable distribution. BHK's portfolio has shifted toward corporate credit, now with 80% investment grade and a 33.9% leverage ratio. The fund's high 9.8% distribution rate is unsustainable, with 41% of recent payouts as return of capital.