It would have been unthinkable even a few years ago to have high-yield/speculative/junk bonds being sold for negative yields. But that’s exactly what’s happening now. The Wall Street Journal recently issued an oxymoron alert that high-yield bonds had gone negative. The report says 14 European companies with junk bonds worth more than €3 billion ($3.38 billion) are trading with negative yields. Then, a pension fund manager in a European country was told by his regulator not to hold too much cash because it is risky and was told to invest them in negative yielding bonds, instead! Is this for real?