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Junk bond bulls see prosperous road ahead

Pimco, Goldman say the rout is overdone; UBS strategist says sector selection is particularly challenging
Saturday, December 5, 2015 - 05:50
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TAKING CUE FROM: JOBS It's not a total embrace of the market. Defaults in the commodity industry are still forecast to accelerate. But investors are betting that won't derail a US economy that added 271,000 new jobs in October, the most this year.

New York

JUNK bonds are poised for their first annual loss since 2008, and the list of companies headed for trouble is swelling. Yet to Mark Kiesel, who helps run one of the world's biggest debt funds, the bonds haven't been this attractive in a long time.

"Credit hasn't looked