Wall Street At Work Aggravating Risk—-Would You Like Some Leverage On Them Junk Bonds!

Once upon a time junk bonds yielded 12-15% on a regular basis and not without reason. After accounting for average losses of about 5% on a long term basis—plus inflation, taxes, illiquidity and real returns—-double-digit yields made good sense financially. After more than a decade of financial repression by the Fed and other major central banks, however, junk […]
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