Junk Bond Decline: Should You Be Afraid? – Barrons.com.
It is true that junk bonds have moved in tandem with stocks last year and beyond. However, now that their yields are below 6%, they are falling prey to being compared to treasury yields more and more. And because of the sector rotation from treasuries to stocks, treasury yields have crept up higher and higher and we are seeing the first leg of a tactical allocation between risk-free treasuries, investment grade, and high yield.
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