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In this March 29, 2013 file photo, workers tend to a well head during a hydraulic fracturing operation at an Encana gas well.
In this March 29, 2013 file photo, workers tend to a well head during a hydraulic fracturing operation at an Encana gas well.
(Brennan Linsley/THE ASSOCIATED PRESS)

High-yield debt deals become incredibly tough to sell

First, investors fell in love with junk bonds. Now they’re putting the relationship on pause.

As bond yields plummeted in major Western countries over the past few years, investors of all stripes turned their eyes to high yield bonds, hoping to pick up just a few extra percentage points of interest each year. Because bond yields had fallen so low, they were willing to worry less about overall risk and take whatever higher rates that could get their hands on.