High yield analysts and managers have warned some of the largest funds in the sector are being hit by a liquidity crisis.
Bond fund managers who bought into the US dollar-denominated issuance from Verizon have seen an immediate boost to performance after the bargain-basement priced bonds saw values jump and yields come in.
Hermes' Fraser Lundie has outlined four golden rules investors should follow to invest successfully in high yield bonds, at a time of strong headwinds for the asset class.
Japan equity managers are buying back into domestic companies and cutting their exposure to export-led firms as the slowdown in China and a flat yen weigh on sentiment.
Which eurozone issues are you still concerned about - and where are the most compelling opportunities?
Emerging markets have had a torrid summer, as the threat of a slowdown in China and the possibility of QE tapering in the US weighed heavy on investor sentiment.