, Columnist
Junk Bonds' High-Wire Act
Investors are accepting a shrinking amount of yield to lend to companies that are closest to default.
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Buyers of risky corporate bonds are starting 2017 in a precarious position.
They're coming off the best year of returns since 2009, with a 17.5 percent gain last year that was fueled largely by the rebounding oil prices. And many traders are betting that the good times will just keep on rolling. This is anything but certain.