Apparently hedge fund redemptions and margin calls
have an effect on bonds as well as equities.
Of the 30 plus billions in hedge fund redemptions in September, almost 1/2 were from those hedge funds specializing in distressed securities (i.e. That would mostly be high yield debt!).

The appearance is that spreads are abnormally wide, while in reality, the market cannot absorb
these sales much in the same way as equity sales
push down all the averages!

Selling the fund now, might be the equivalent
of selling the Dow at 8000 after all the damage
has been done! JMHO