Global Selloff Tests Changed Credit Market

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Corporate bonds have taken a beating in November, adding to an already difficult year for a market that thrived in an era of ultra-easy money.

Prices have tumbled, sending yields, which move in the opposite direction, to multiyear highs. Yields on dollar bonds issued by Asian corporations reached their highest levels in nearly seven years this week, averaging about 5.67%. U.S. corporate bond yields hit an eight-and-a-half-year peak of 4.38%. And even in Europe, where benchmark interest rates for the eurozone are still negative,…

2018-11-22 12:03:33

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