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
DAILY PRICES
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.
(LBMA AM)
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