Credit carnage spurs bargains on bonds tied to $16 trillion pile of U.S. household debt

But the tumult also has investors in bonds tied to U.S. consumer and mortgage debt scouring for opportunities, as yields climb to crisis-era levels, even while the at a 3.7% unemployment rate in October. “I don’t think there’s an appreciation for just how cheap a lot of the bonds are out there,” said John Kerschner, head of U.S. securitized products at Janus Henderson Investors, which oversees roughly $15 billion of mortgage, auto and... + full article