S&P warns about "hot money" in the high-yield bond ETF sector (HYG, JNK), saying the ease...

|By:, SA News Editor

S&P warns about "hot money" in the high-yield bond ETF sector (HYG, JNK), saying the ease with which investors can buy and sell creates "new and risky dynamics" in that area of fixed income. Not so fast, writes Brendan Conway, pointing out S&P is just operating on a hunch. Moody's earlier attempt at laying blame on JNK for volatile action fell flat.