It’s a high-yield investment with a hand grenade attached. An asset carried gingerly with the hope that it won’t explode, leaving investors in a hole. Welcome to a class of securities tailor-made for banks that’s become popular in Europe: contingent convertibles, also known as CoCo bonds. A cross between a bond and a stock, CoCos are helping banks bolster capital to meet regulations designed to prevent a repeat of the taxpayer bailouts of the 2008 financial crisis. Some investors are skeptical t
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