How Junk Bond Funds Can Be An Early Economic IndicatorKnowledge Wharton
Wharton's Itay Goldstein discusses his working paper, which uncovers a very early warning signal on the state of the economy.
There is a new leading indicator that uses intra-family flows into high yield — or junk — bond mutual funds to foresee credit-market overheating, which typically precedes economic downturns. Research by Wharton finance professor Itay Goldstein . . .
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