History of junk bonds points to trouble3 min read . Updated: 23 Dec 2015, 01:16 AM IST
Academic work suggests the difference in rates for high-risk debt and rock-solid government securities often is a significant harbinger
The rout in junk bonds is intensifying. After claiming some high-profile casualties—notably Third Avenue Management—the turmoil is raising fears of a larger meltdown in the markets, perhaps even a recession. In other words, is high-yield debt the canary in the credit mine?
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