The Fed's obsession with low interest rates is forcing investors to scramble for yield plays,...

|By:, SA News Editor

The Fed's obsession with low interest rates is forcing investors to scramble for yield plays, which, in turn, has intensified concern about the dangers of a junk bond bubble on the horizon. Wednesday's announcement that near-zero rates will be tied to specific unemployment and inflation targets sent a clear signal to the markets: Those looking for returns in fixed income won't get it from conventional debt instruments. They're going to have to turn to higher-yielding products, and along with that comes greater risk.