We buy a junk bond, follow it along a journey of failure and rebirth. : Planet Money Team Indicator buys Cardiff a surprise present. A terrible, extremely risky, but wildly interesting investment. Then it gets interesting. The company that issued the junk bond declared bankruptcy. But that wasn't the end of the story. | Subscribe to our daily podcast, The Indicator here.

We Buy A Junk Bond

We Buy A Junk Bond

  • Download
  • <iframe src="https://www.npr.org/player/embed/911162693/1198961093" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Cardiff Garcia/NPR
Cardiff &amp; his junk bond.
Cardiff Garcia/NPR

For a few reasons junk (or high-yield) bonds suddenly became very popular last year. So, Team Indicator went on a mission to learn more the fun way, by... buying a junk bond ourselves. Two bonds, to be precise, worth a total of $600. The bonds were issued by Hornbeck Offshore Services, a family-run oil services company. The interest payments on the bond were so high, Team Indicator gave it a nickname: Becky with the Good Yield.

Since December, a lot has changed. And Hornbeck Offshore Services — they've filed for bankruptcy. But what does that mean for Becky? The answer took us by surprise. This episode: The life, death, and surprising rebirth of a junk bond.

Music: "Selfie Squad," "The Funky Lowdown," "Polar Chill."

Additional Music by Drop Electric.

Find us: Twitter / Facebook / Instagram / TikTok

Subscribe to our show on Apple Podcasts, Pocket Casts and NPR One.

For more economic news made bite-sized, read our weekly Newsletter.