Activist investor Carl Icahn renewed his warnings about the high-yield debt market Friday, criticizing a perceived lack of liquidity in junk bond funds.
"The high-yield market is just a keg of dynamite that sooner or later will blow up," he said on CNBC's "Fast Money: Halftime Report."
Icahn's comments echoed remarks he has made in recent months about the dangers of high-yield debt. They came as Third Avenue Management looked to block investors from withdrawing money from a nearly $1 billion junk bond fund that it is trying to liquidate.
(Hours after Icahn's comments, the Wall Street Journal reported that hedge fund Stone Lion would block redemptions from a fund, and on Monday Bloomberg reported that high-yield credit fund Lucidus Capital Partners had liquidated).