No Bonds Left Behind in Rally Except Coal-Producer Debt
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The almost 6 percent rally in U.S. company bonds this year has left the coal industry in the dark.
Notes sold by junk-rated coal producers including Walter Energy Inc. and Alpha Natural Resources Inc. are the only group that’s handed investors losses in 2014, dropping almost 1 percent, according to Bloomberg bond index data. High-grade debentures sold by media companies such as Time Warner Cable Inc. and DirecTV have provided the biggest returns, gaining 9.4 percent, the index data show.