Markets
Sunday, 6/28, 01:44 AM
Scandal-Hit Wamco's Bond Funds Trade at Steep Discounts. What That Means.
- Closed-end bond funds run by Western Asset Management are trading well below the value of the bonds they hold, the fallout from a fraud scandal that cost the firm its star manager and roughly $130 billion in assets.
- Some analysts call the gap an opportunity; it is also a warning label.