Risks Still High for Junk Bonds.

Investors flocking to junk bonds need to think twice after allowing risk premiums on high-yield investments to get dangerously low. It's good that fewer companies are failing. But high debt prices don't leave room for 2010's biggest financial market risk: the potential fallout when central banks withdraw from markets. Investors in high-yield bonds typically build in a worst-case cushion. In this case, that doesn't seem to be happening. [ABSTRACT FROM PUBLISHER]