Are high-yield bonds like wine, and get better with age?

Many wine critics will tell you that even the best wine labels can have good years and bad years.  Things like sweetness and tannin all factor into whether a wine is good that year. Greg Kocik, Head of High Yield Bond Group, TD Asset Management, tells Kim Parlee swapping sweetness and tannin for covenants and pledges can help identify the more valuable vintages in high-yield bonds.