- "There's no way for prices to go up at this point," says Jeff Gundlach of the junk bond market. The average junk bond yields just 5.3% and trades above 104 cents on the dollar, he says, higher than the 103 level at which many bonds can be called by their issuers.
- “If a bond is priced to call, and rates rise, it might not get called. People may think they own a short-term portfolio but if interest rates rise it might turn into a 10-year bond instead. It would also roll up the yield curve ... This could be a debacle."
- I’m not worried as much about interest rate risk and credit risk ... I’m worried more about liquidity risk and naively owned positions."
- ETFs: HYG, JNK, HYLD, HYS, SJNK, PHB, BSJF, SJB, BSJE, BSJG, HYHG, BSJI, ANGL, BSJH, HYLS, XOVR, THHY, UJB, QLTC, SHYG, BSJK, HYZD, BSJJ, HYND
Gundlach cuts DoubleLline's high-yield holdings to just 3%
From other sites
Video at CNBC.com (Oct 22, 2014)
Video at CNBC.com (Oct 21, 2014)
Video at CNBC.com (Aug 15, 2014)
at CNBC.com (Jun 25, 2013)
at CNBC.com (Jun 17, 2013)
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