High yield sell-off feared after US firm freezes credit fund
Third Avenue froze withdrawals from $788m vehicle
The freezing of assets by US firm Third Avenue Management in its credit fund has led investors, including billionaire Carl Icahn, to fear a "meltdown" in the high yield sector.
Last week, Wall Street firm Third Avenue Management imposed a freeze on withdrawals from its $788m high yield bond fund, shocking the market. The firm said it took the action to avoid fire sales, following...
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