The Fall of a High-Yield Fund Echoes 2007 Crunch
The high-yield corporate bond market, where junk-rated companies go to borrow money, has been in trouble recently. This sector of the fixed-income market suffered its worst quarter in four years in the three months to September. And, at the risk of getting all Chicken Little, one of the consequences is reminiscent of the start of the credit crunch.
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