A high-risk bond is a type of investment instrument that involves a significant risk of loss of principal in exchange for the potential for high returns. However, investors who are risk-averse may prefer other synonyms for high-risk bonds, such as junk bonds, speculative bonds, or distressed debt. These bonds are typically issued by companies with low credit ratings or those that are in financial distress. Investors should be aware that high-risk bonds may not always perform well and could result in significant losses. It's always important to conduct thorough research and seek professional advice before investing in such securities.