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Special Report

Morningstar’s Take on High-Yield Bonds Today

High-yield bonds have been making waves in recent weeks as prices have slumped and worries about liquidity have grown. The latest catalyst was this Third Avenue Focused Credit Fund that is closed to redemptions because of some concerns over its portfolio. But other concerns ranging from exposure to the energy sector to higher interest rates have also been weighing on the market.

Morningstar analysts have provided their take on what is happening in the junk bond market right now and why investors need to keep a long-term perspective.