Gundlach: Next crisis could be in high-yield

• Nobody really talks about it much, says Jeff Gundlach, but the junk-bond market's entire life has been spent in a time of secularly declining interest rates. Exactly how with these assets react once that move ends?
• There's no need to sell today, says Gundlach, as the crisis he envisions is at least a couple of years away, when increasing interest rates collide with a wave of maturing paper needing to be refinanced. For now, stick with the "carry trade" of owning high-yield bonds.
• ETFs: HYG, JNK, HYLD, HYS, SJNK, SJB, BSJF, ANGL, BSJG, HYHG, BSJI, HYLS, UJB, WYDE, XOVR, BSJH, HYZD, THHY, QLTC, SHYG, BSJJ, HYND, HYGH, BSJK, TYTE, BSJM, BSJL