, Columnist
Beware Energy's Junk Debt Army
Diversification is not always a good thing.
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Two of the scariest words in financial markets these days are "commodities" and "debt." Saying them in the same breath is virtually a profanity. Looking at the high-yield bond market, though, the first word on your lips may well be NSFW.
Third Avenue Management's decision to throw up the gates on a high yield mutual fund is the latest sign of distress spreading through credit markets.
