Junk bonds are the new safe haven assets
In this period of negative yields, even the most conservative firms are looking to invest in sub-investment grade debt for the first time
New York
THE new fixed-income haven is, of all things, the market for junk bonds.
With government bonds in countries from Germany to Japan and Slovakia yielding less than nothing, money is pouring into exchange-traded funds (ETFs) that buy speculative-grade debt, traditionally the riskiest of fixed-income assets.
