To update the above. As of Friday, the average junk bond fund per Morningstar was negative 0.24%. The Merrill Lynch High Yield Master II Index was positive 0.84%. Today's negative price action just adds to the junk bond woes. We better not hope this is a reverse of 2008/09 where junk bonds led stocks with junk bottoming in mid December and stocks early March. It's been completely different in junk munis which have been making YTD highs this month (until today in some of the funds) I am 89% in junk munis but they are on a tight rein.