High-yield bonds delivered investors a bouquet of roses so far in 2012. But an increase in the default rate has investors questioning high-yield sincerity. Last week, Moody’s Investor Service (Moody’s) reported the global speculative default rate increased to 2.0% in January 2012 from 1.8% in December 2011. Seven companies…

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Beauty Is in the Eye of the Bondholder