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Junk Bond

A speculative bond rated BB or below by Standard & Poor's Corp. and Ba or below by Moody's Investor Service. See Bond Rating. "Junk bonds" are generally issued by corporations of questionable financial strength or without proven track records. They tend to be more volatile and higher yielding than bonds with superior quality ratings. "Junk bond funds" emphasize diversified investments in these low-rated, high-yielding debt issues.

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