Even after a selloff last week amid rising tensions between the U.S. and North Korea, a Bloomberg Barclays index of global junk bonds still yields 5.3 percent, 100 basis points below the average for the past five years.
Institutional quant hedge funds have addressed the risk issues that caused 2007 losses, but the newer retail products cannot.
If anything, the market’s ability to bounce back is getting stronger.
Dozens of tips over three years were passed from an ex-Bank of America consultant to his girlfriend's father.