FYI: Fund managers, to paraphrase a phrase, have 99 problems but the junk-bond market ain't one.
There are manifold reasons for investors to worry about asset prices. Central banks are draining the world's punchbowls. Equity valuations have reached stratospheric levels. Volatility remains AWOL.
The outlook for speculative-grade debt, however, remains hunky-dory, at least based on the expected number of firms that won't be able to make their debt payments this year.
Regards,
Ted
https://www.bloomberg.com/gadfly/articles/2018-01-11/defaulting-is-out-of-style-junk-bond-market-is-hunky-dory
