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Junk Bonds


  • Areva's options narrow in shadow of debt refinancing Friday, 28 Nov 2014 | 9:24 AM ET

    PARIS, Nov 28- With big bond repayments due in 2016-17 and its credit rating cut to junk last week, France's loss-making nuclear group Areva has a narrow and shrinking window to turn around its business and refinance its pile of debt. With billions of capital destroyed by writedowns on a Finland reactor project and an African uranium mine and its revenue crimped...

  • ISTANBUL, Nov 21- Rating agency Standard& Poor's said on Friday it expected Turkey's current account deficit, its main economic weakness, to remain close to 5.3 percent of output until 2017, with falling oil prices helping the economy to rebalance. The agency, which affirmed its unsolicited BB+ rating, one notch below investment grade, said it saw elevated policy...

  • NEW YORK, Nov 20- Six years of interest rate suppression by the U.S. "The high-yield market is sort of in a bubble and sooner or later there will be a price paid for that," said Carl Icahn, the billionaire investor who said he owns credit default swaps on high yield debt against the 5- year U.S. Martin Fridson, chief investment officer of wealth management firm Lehmann...

  • NEW YORK, Nov 19- Several months ago, U.S. mutual funds scooped up most of the $1.25 billion in high-yield junk bonds issued by Denbury Resources Inc, a Plano, Texas, oil and gas exploration company. The 5.5 percent coupon on the Denbury bonds maturing in 2022 attracted a number of U.S. mutual fund buyers, including the Franklin Income Fund, which held nearly 10 percent...

  • NEW YORK, Nov 10- The escalating cost to service Puerto Rico's debt is one reason why its bonds are not attractive at current prices, a major municipal bond investor said on Monday. Traditional municipal bond investors have been largely avoiding junk-rated Puerto Rico, which has a debt load of more than $70 billion, leaving it partly reliant on banks and hedge...

  • Making junk-rated loans to companies that are often owned by private equity firms is a lucrative, high-margin business for major Wall Street banks. Leveraged loans accounted for $254.7 billion, or 74.7 percent, of criticized assets in the 2014 review, compared with $227 billion, or 75 percent, of criticized assets in 2013, the Federal Reserve, the Federal...

  • New junk bond risk: It matters who owns what Friday, 31 Oct 2014 | 12:13 AM ET

    Add a new concern to the stable of high-yield bond risks: ownership of some companies' issuance has become concentrated with just a few fund managers.

  • Has the junk bond bubble deflated? Tuesday, 21 Oct 2014 | 10:13 PM ET

    After this month's market gyrations sent high-yield bond prices sharply lower, some analysts believe the air has come out of the market.

  • Balanced approach in volatile markets   Tuesday, 21 Oct 2014 | 10:51 AM ET
    Balanced approach in volatile markets

    Gary Kaminsky of Morgan Stanley, provides his investment approach in unstable market conditions.

  • Who’s afraid of bond defaults? Tuesday, 14 Oct 2014 | 7:25 PM ET

    As yield-chasers move further out the risk spectrum, covenants on loans and bonds have loosened, but it isn't clear whether investors need to worry.

  • Why the strong dollar may sink junk bonds Thursday, 9 Oct 2014 | 11:14 PM ET

    A simmering mix of a strong dollar and weak commodity prices may brew up trouble for junk bond ETFs with a hefty weighting in materials companies.

  • Pimco declares end to high-yield selloff Wednesday, 8 Oct 2014 | 9:54 PM ET

    High-yield bonds offer compelling valuations and better fundamentals following the selloff since mid-year, Pimco said in a note Thursday.

  • Don't fight the ECB: Is there yield in Europe? Monday, 6 Oct 2014 | 7:00 PM ET
    The European Central Bank in Frankfurt, Germany

    Even though interest rates in Europe are widely expected to stay in negative territory for a while, some analysts are still finding yield plays.

  • Reading the moves in the junk bond market   Sunday, 5 Oct 2014 | 7:31 PM ET
    Reading the moves in the junk bond market

    Viktor Hjort, Head of Asia Fixed Income Research at Morgan Stanley, says the widening spread between high-yield bonds and the U.S. Treasuries indicate that markets are seeing a correction.

  • Should you buy bad bank loans?   Tuesday, 30 Sep 2014 | 5:20 AM ET
    Should you buy bad bank loans?

    Zak Summerscale, CIO for European high yield ay Babson Capital, says that there are some "great opportunities" in the high yield market - such as buying loans from European bad banks.

  • Is the long-expected high-yield selloff under way? Sunday, 28 Sep 2014 | 7:03 PM ET

    The selloff in high-yield bond ETFs last week has revived fears that the sector may be headed for a bruising.

  • About those forecasts for bonds to drop… Tuesday, 23 Sep 2014 | 6:35 PM ET

    Calls for the bond market to drop this year have largely come to naught, and some analysts are now looking for gains.

  • One investor's junk (bond) another's treasure   Tuesday, 19 Aug 2014 | 3:16 PM ET
    One investor's junk (bond) another's treasure

    CNBC's Jeff Cox, and Michael Kastner, Halyard Asset Management, discuss why retail investors are steering clear of junk bonds while institutional money is buying.

  • Does corporate Asia face reckoning as rates rise? Monday, 18 Aug 2014 | 6:29 PM ET

    Corporate Asia has taken advantage of ultra-low interest rates, loading up on debt, but with rates set to rise, there may be risks ahead.

  • High-yield still worth owning: BlackRock pro Monday, 18 Aug 2014 | 2:55 PM ET
    How low will yields go?

    Junk bonds remain a solid investment for the time being, BlackRock's Jim Keenan says.