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A major sell-off is underway in the US corporate debt market.
US corporate debt is suffering one of its worst sell-offs in 18 years, according to JPMorgan research.
The widely watched ICE Bank of America Merrill Lynch corporate debt indices shows that investors in investment grade US company debt have lost close to 4% this year.
Fears of excessive valuations are pushing investors away from US corporate debt.
As such, US corporate debt is suffering one of its worst...