Bond Scarcity Made $25 Trillion in Higher-Yielding Debt Disappear
Barclays Rogoff Sees No Contagion in Junk Bond Rout
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"I’m melting, I’m melting!"
The dying lament of a Wicked Witch? Yes. But it’s also an apt description of what’s been happening to bond yields since the financial crisis, according to Bank of America Merrill Lynch. In 2008, there was $28 trillion of debt yielding 4 percent or more. Now, it’s down to $3 trillion.