Distressed Debt Trading Overshadows Corporate Bond Market [Video]

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A sharp rally in the bonds of three distressed companies— McDermott International Inc., MDR 27.22% California Resources Corp. CRC 13.14% and PG&E Corp. PCG -4.84% —dominated trading in the corporate bond market Friday.

The surge marks a rebound after earlier selloffs in the debt, showing how volatile trading in riskier bondshas become amid …

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