Money Week editor John Stepek has looked at the recent mutual fund collapse in the junk bond market and correctly warns that it is a canary in the coal mine:
If you were around during the financial crisis, you might remember that fund closures became one of the canaries in the coal mine.
Various funds failed in the run-up to the crisis, as bad bets on risky assets went wrong and the economic backdrop became steadily less forgiving.
Why am I reminding you of this? Because we’ve just seen the biggest mutual fund failure in the US since 2008…
The full Money Week article can be read here
Today’s Gold Prices: USD 1069.15, EUR 969.53 and GBP 705.31 per ounce.
Yesterday’s Gold Prices: USD 1071.75, EUR 988.43 and GBP 714.79 per ounce.