(Reuters) - Demand for junk bonds, which are rated below investment grade, improved after the Federal Reserve dropped language about possible interest rate increases in its policy statement on rates last week, stoking speculation that the Fed's next move may be a cut.
Investment returns on junk bonds have risen to about 2.7 percent year-to-date from 2.5 percent before the Fed's policy statement last Wednesday, according to Merrill Lynch data.
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