Third Avenue Redemption Freeze Sends Chill Through Credit Market

  • Freeze on withdrawals comes as junk bonds head for annual drop
  • Biggest outflows in a year are a `dark cloud' over the market

How Will Markets React to the Third Avenue Freeze?

Investors who piled into the riskiest corners of the credit markets during seven years of rock-bottom interest rates are getting a reminder of how hard it can be to cash out.

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