Hello everyone,

I am an undergrad student who needs a bit of guidance on choosing the correct dissertation topic. I am interested in the field of high yield (junk) bonds and I believe that they never get out of date even though their prime time was during the 80s. Now, I was thinking to combine this with a recently popular strategy of dealing with credit default swaps. Now I need some help in effectively combining these two into one solid piece. I got some advice that I should try to find out how the hedging strategies of CDSs are used to deal with credit exposures of junks. Also what do you think, should I also incorporate the valuation of CDSs into the whole deal?
Please if you have some interesting ideas or hints I would be more than happy to hear them out!

Vlad