The riskiest companies in the world are enjoying the benefits of the global hunt for higher returns, sending the yield on the dollar-denominated debt of some of the lowest-rated businesses close to historic lows. The average yield across US triple-C-rated debt in the US dropped to a recent nadir of 7.6% this month, closing in on its record low of 7.3% set in 2014, according to data from ICE Data Services. The drop in yield signals a rally in price for the assets.
Financial Times..
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