High-yield securities are giving investors huge returns. But the soaring market is coming under scrutiny from regulators, who see it as potentially creating financial instability. S&P recently warned about the risks posed by the rise in "cov-lite" loans, which offer higher returns but come with fewer protections for investors or lenders. "Cov-lite" loans represented two-thirds of the market in 2013, compared with less than a third in 2007.

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