It’s a Junk Economy

During 2020, when the U.S. economy was clobbered by COVID-19 lockdowns and upwards of 60 million new unemployment claims were filed, junk-bond issuance set an all-time record of $435 billion, beating the previous record, set in 2012, of $345 billion by more than 25%. And, on top of that, there was another $393 billion of […]
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