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Why investors should fear 'fallen angels'

Jan 18, 2019 - Australian Financial Review

It was a gutsy call, even for Jeffrey Gundlach, who enjoys shocking the punters with his audacious predictions. Asked how he saw 2019 unfolding, the founder of the $US120 billion ($170 billion) US bond manager DoubleLine shot back immediately: "The biggest risk is the corporate bond market."

Gundlach, of course, isn't the only high-profile market pundit to draw attention to looming trouble in the US corporate bond market. The market has ballooned in size - it now stands at about $US8 trill...