The Cries of Junk-Bond Armageddon

In recent years, whenever U.S. credit markets have become mired in boredom and melted up out of sheer habit, traders start worrying about junk-bond bubbles. Now is no different. It has been a notably unremarkable year for credit traders despite populist upheavals in Europe and the U.S. and subsequent unpredictable policies and rhetoric. Meanwhile, yields

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