Retailer Bonds Gain in Europe as Junk Returns Slow on Rout
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Junk bonds sold by retailers in Europe are set for the best first half in three years even as returns in the wider market shrink.
The debt of non-food retailers returned 7.2 percent this year, according to Bank of America Merrill Lynch index data, rebounding from a 12 percent loss in 2014, when they were the worst-performing industry group. The European junk-bond market returned 1.9 percent this year, set for the worst first half since 2008.