fox doesbarnes at this. on financial market conditions, is there a problem developing in the high yield sector of the bond market, the junk bond sector question mark as you know last week, mutual fund, third and avenue -- 3rd avenue presumptions.ted because of the selloff in this kind of want. did you discuss in the meeting any risk to the financial system, a systemic risk because of the conditions in the junk and market -- bond market? soldions of dollars were heavily because of low rates. did the low interest policy sow the seeds for this development? thank you. theyellen: risk spreads and high yield bond fund at have been widening since last year. partly reflecting falling oil partlyonly partly, but and reductions in high yield bond fund have been increasing in recent months. third avenue focused credit fund unusualer -- a rather fund. it had concentrated positions in especially risky and illiquid bonds that it had been facing very significant redemption pressures. my understanding is the sec is in touch

fox doesbarnes at this. on financial market conditions, is there a problem developing in the high yield sector of the bond market, the junk bond sector question mark as you know last week, mutual fund, third and avenue -- 3rd avenue presumptions.ted because of the selloff in this kind of want. did you discuss in the meeting any risk to the financial system, a systemic risk because of the conditions in the junk and market -- bond market? soldions of dollars were heavily because of low rates. did the low interest policy sow the seeds for this development? thank you. theyellen: risk spreads and high yield bond fund at have been widening since last year. partly reflecting falling oil partlyonly partly, but and reductions in high yield bond fund have been increasing in recent months. third avenue focused credit fund unusualer -- a rather fund. it had concentrated positions in especially risky and illiquid bonds that it had been facing very significant redemption pressures. my understanding is the sec is in touch