"Junk" Bonds Are Anything But
by Jeffrey R. Kosnett
Sep 30, 2021
2 minutes
There are two familiar labels for corporate debt with Standard & Poor's credit ratings weaker than triple-B: high-yield bonds and junk bonds. I submit both are obsolete, or at least misleading.
That is not to accuse Wall Street of doublespeak. Once upon a time, much of this debt was indeed speculative and illiquid. But my experience, and yours if you have invested in the category since
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