(Bloomberg) -- Corporate-bond valuations are in nosebleed territory, flashing their biggest warning in almost 30 years as an influx of money from pension fund managers and insurers boosts competition for assets. So far, investors are sanguine about the risk.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueBurned-Out Parents Need Better Public SpacesDetroit’s Michigan Central Is the Building Revival Story of 2