“Large investors are rushing into the riskiest corporate bonds, frustrated by low interest rates on safer investments and convinced that even companies with shaky finances are in little danger of default. One sign of that rush: Investors have been buying up corporate bonds with a triple-C rating, a grade that analysts and investors consider highly speculative. That buying is driving up prices on those bonds and pushing down their yields, which this month fell to 8.187% on a closely watched index—the lowest level on record. The yield gap between junk bonds and U.S. government debt—a measure of the premium investors receive for taking on the risk of junk bonds—has narrowed.”
http://online.wsj.com/news/articles/SB10001424052702304422704579572390216147878
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