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 this good in six years, and high-yield looks especially attractive," said Mr Kiesel, the chief investment officer for global credit at Pacific Investment Management Co.
He's among a growing group of money managers and Wall Street analysts predicting that turmoil in the junk-bond market will give way to the same optimism that has buoyed the stock market the past two months.
The US economy is on a strong footing, he said. Junk...
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