Junk Bonds Head for Longest Winning Streak in 7 Months in Europe

High-yield corporate bonds in Europe are set to hand investors an eighth week of profits as the region’s economy emerges from a record-long recession.

Bonds of New World Resources Plc (NWR), the Czech coking-coal producer, led an average total return of 0.04 percent this week, the longest stretch of gains since the week ending January 11, according to Bloomberg bond index data. The average yield on the debt fell for a seventh week to 4.66 percent, the lowest since May 31.

To contact the reporter on this story: Natasha Doff in London at ndoff@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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