1font00Whatever the causes, the numbers bear out America's slippage. It is still well ahead of Europe in hedge-fund and mutual-fund assets, securitisation, syndicated loans, and turnover in equities and exchange-traded derivatives. In all but one of these, however, the gap narrowed in 2005. Europe's corporate-debt market overtook America's last year (see chart 1), although America still leads in high-yield “junk” bonds, 02font01font00a distinction less dubious than it once was.02font02br 02br 02br 00Question:02br 02br 00distinction = discrimination / honor?02br 02br 00What does this 'distinction' restrict? The fact that America still leads or the noun "junk" bonds?0-
Top answer
0 "honor"02br 00 and it's indeed the "honor" of01font 00 leading in high-yield “junk” bonds02font 00 0-
— Marius Hancu
0 "honor"02br 00 and it's indeed the "honor" of01font 00 leading in high-yield “junk” bonds02font 00 0-
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0A "dubious distinction" is one that doesn't really carry any honor with it, however.02br 02br 00You can also say "that's a dubious distinction" when you don't really see much of a difference between two things - they aren't that distinct from each other.02br 02br 00If I understand this paragraph, the author is suggesting that in the past, leading in "junk
0 GG's right: its a negative honor, a dishonor, a bad reputation, a 01b00disrepute02b02br 00 I edited my first posting to listed it as a so-called honor, "honor" 0-