Asset managers reduce holdings of lowest-rated junk bonds.
By Lisa Abramowicz|October 12, 2012 at 06:02 AM
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Investors from Vanguard Group Inc. to JPMorgan Chase & Co. are shunning bonds from the neediest borrowers as a slowing economy sends the default rate for companies that ratings firms deem to be in “poor standing” to the highest level since 2009.
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