$550 Billion Energy Junk Bond Bubble Busts; “Whac-A-Mole” Distortions in Multiple Markets

The energy junk bond bubble has finally popped. Falling crude prices were the catalyst. Junk bonds of Energy XXI Ltd. plunged to 64 cents on the dollar from 106.3 cents since September. They now yield over 27%. Energy XXI Ltd. raised over $2 billion......and that's just for starters......
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