High yield bid rock steady as issuers defy EM sell-off
When the going gets tough, high yield investors often get going, too — out of the door. So far, in this bout of tapering-induced risk-aversion, that has not happened. While stockmarkets sold off this week, CDS indices widened and emerging market bonds plunged, high yield issuers in Europe kept launching and printing bonds, writes Stefanie Linhardt.
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