Retirement & Financial Planning Report

“Junk” bonds rated B or CCC are low-rated, even for junk bonds, but there are bonds out there yielding over 14% that are likely to be good buys. It probably will take someone who’s knowledgeable about the high-yield market to recognize them so investors should choose a diversified mutual fund with a good record. Morningstar gives its highest ratings to Eaton Vance Income Fund of Boston (800-225-6265) and MainStay High-Yield Corporate Bond Fund (800-624-6782). Both yield over 10%.