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High Yield Credit Funds Are Top Performers

Volatility in credit has been especially good for high yield, but the new normal in banking presents a risk.

High-yield credit markets have been in turmoil since May, and the volatility has been good for hedge funds. While all credit markets reeled after the U.S. Federal Reserve indicated that it might eventually raise interest rates, the effect on high yield was especially dramatic. By June spreads had widened to

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