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Why the bond market is more fragile than you think

NEW YORK (AP) — A bottleneck is building in the global market for bonds. Main Street investors have poured a trillion dollars into bonds since the financial crisis, and helped send prices soaring. As fund managers and regulators fret about an inevitable sell-off, the bigger fear is that when people go to unload, there won't be anyone to buy. Too many funds own the same bonds, making them difficult to sell if panic ensues. On top of that, the banks that used to bring bond buyers and have...

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