Stocks’ Worst Week Since March Spills Over Into Junk

Stocks’ Worst Week Since March Spills Over Into Junk

The same risk aversion that sent US stocks tumbling towards their worst weekly performance since the March meltdown spelled trouble for junk bonds. At least two deals were yanked this week as conditions deteriorated and inflows turned to outflows. With the US election looming, COVID-19 infections rising to records across the western world, and oil sinking, investors pulled more than $2.5 billion from high yield funds in the week through October 28, the latest Lipper data shows. It was the f
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2 thoughts on “Stocks’ Worst Week Since March Spills Over Into Junk

  1. I was busy slaving away, paying only attention to my job, as I am, fortunately, still gainfully employed, when I peeled my attention off to another browser tab, only to view another day of carnage.

    Couple of basis points here and there on the long bond is not a big deal. But quite the scene, like we’re watching the breakdown of a paradigm as bonds fall with stocks these days. So, pundits have called the bond bull over and dead. We’ll see if there’s one more trade in the beast during the upcoming months of our discontent.

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