It's a mistake not to heed the cautionary signs coming from 8.3% average yields on junk bonds,...

|By:, SA News Editor

It's a mistake not to heed the cautionary signs coming from 8.3% average yields on junk bonds, Kelly Evans writes, since the high-yield market has proved a reliable leading gauge of economic growth. Barclays notes that spreads have entered the "troubled outlook" range of 6.0-7.5 percentage points over Treasurys.