Tuesday, August 26, 2014
Glad That Passed
Here is a Bloomberg article on the rebound in junk bonds after a brief sell-off in late July and early August. Yields on junk bonds have dropped to 5.54%, well below their recent high of 6.01% on August 1. For a few days there I thought the market had come to its senses and was adding a healthy risk premium to junk bonds. I guess not.