Investor interest in junk bonds rebounded sharply last month as strong returns from the sector fuelled a sharp increase in issuance.
In recent weeks, money has again poured into US funds focused on buying junk bonds – debt issued by risky companies with relatively high levels of debt and lower credit ratings.
Demand for higher-yielding bonds has intensified in response to reduced concern about the eurozone debt crisis and expectations that the US Federal Reserve will keep its interest rates at near-zero levels for at least another year.
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