Junk-Bond Investors Facing First Global Loss in 6 Years
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Junk-bond investors worldwide are forfeiting all the gains they’ve accumulated this year as a selloff triggered by plunging oil prices thrusts the debt toward its first loss since the financial crisis.
The worst monthly performance in more than three years has eroded returns on speculative-grade debt, shrinking the year’s gain to 0.15 percent after ending November at 4.34 percent, according to Bank of America Merrill Lynch index data. That puts the debt on pace to hand investors their first annual loss since it gave up 27 percent in 2008, the data show.