High-yield bonds, also known as junk bonds, are fixed income securities with a credit rating below investment grade. There are several synonyms used to refer to these types of bonds. One commonly used term is sub-investment grade bonds, which reflects the bond's lower credit rating. Another term is speculative grade bonds, which highlights the higher level of risk associated with the investment. Alternatively, the term non-investment grade bonds can be used to identify this type of security. Lastly, some financial professionals use the term leveraged bonds, which refers to the higher levels of debt used to finance these types of securities. Regardless of the terminology used, high-yield bonds are an important component of many investment portfolios due to their potential for higher returns.