2007年8月,法国国民银行停止赎回三支投资基金,它们占这家银行当时资金管理总额不到0.5%。但是,这些小型基金实体后来却成了谚语所说的“煤矿中的金丝雀”:它们的突然收缩是即将要发生的金融紧缩最早预兆之一。现在的问题就是:最近宣布被强制清算的几家类似的无名基金是否也是“金丝雀”?它们的悲鸣是否展现了金融的断层线,或者只是表明承担的风险过高而已?这几家基金全部投资于低评分的企业债。今年投资者们对这种“高收益”或 In August 2007, BNM stopped redeeming three investment funds, accounting for less than 0.5% of the total money management of the bank at the time. However, these small fund entities later became the saying “the canary in coal mines”: their sudden contraction was one of the earliest signs of the financial tightening that was about to take place. The question now is whether several similar anonymous funds recently announced for compulsory liquidation are also “canary” or not? Does their grief reveal a financial fault line, or is it simply an indication of the high level of risk? Home fund all invest in low-rated corporate bonds. This year, investors are concerned about this “high yield” or