junk bond

Of dozens of new investment-grade and junk-bond issues that had been scheduled for the weeks after Labor Day, most have been sidetracked.

Just one junk-bond issue has made it out since September, a $750 million issue for MGM Mirage.

The deal environment is still trickier than in America, where the junk-bond market has roared back and deal prices tend to be lower.

A boom in junk-bond issuance leaves companies with large pools of cash. It takes them a few years to drain these pools and get into trouble.

Even the junk-bond market began to function.

although there was some issuance of lesser-quality, unrated commercial paper prior to the junk bond market collapse late in 1989.

Although they have wobbled a bit lately, junk-bond prices have recovered sharply in the past few months.

At worst, Moody's says, the vast majority of tranches insuch CDOs would be downgraded to junk-bond status.

The reopening of the junk-bond market has also afforded medium-sized firms access to credit again.

Since late November, however, even junk-bond yields have been falling.

Moody's, a rating agency, expects the junk-bond default rate, now 2. 7%, will rise to 7. 4% a year from now.

Like all other credit, the junk-bond market was badly damaged during the recession.

But without the limitless pots of cash that the now shrunken junk-bond market once provided.

The corporate raiding frenzy subsided in the 1990s after Drexel's demise was followed by heavy losses for junk bond investors generally.

Once a country is in the "junk bond" category, no reputation is left.

Junk bond spreads are now exactly where they were at the height of optimism in April 2010.

It was forced to swap $3. 3bn of debt for equity to maintain CNH's credit rating, even as Fiat fell to junk bond status.

Like after the junk bond bubble of the 1980s, lawsuits may hit Wall Street for years to come.

No one seems bothered that 17% of senior, unsecured junk-bond issues are on the lowest possible rung, compared with 2% in 1990.

More recently, there have also been some flows into junk bond funds.

The red-hot junk bond market is also attracting heavy investor interest.

GM debt, once considered the highest investment grade, has tumbled to low-rated, junk-bond status.

It wasn't just junk-bond investors - banks drank the Kool-Aid too.

Junk Bond A bond that is rated by a ratings agency as being below investment grade and investment in the bond is high risk.

A typical junk-bond deal that is unsecured, or not backed by collateral, can run 60 pages.

In 2007 junk-bond issuers made up most of the market for the first time.

In the late 1980s, he helped run junk-bond trading at Goldman Sachs.

Who get's to buy $5 billion in Goldman Sach's preferreds with a junk bond yield?

The average yield on a junk bond is more than 20% now, according to Merrill Lynch.

The average junk bond now yields 20%, compared with 9% at the start of 2008.

It rivals the junk bond crisis of 1989-90, the most severe of the industry downturns in the past 20 years.

In July, junk bond returns were 3. 4 per cent, according to BofA Merill Lynch indices.

Junk-bond default rates, which ran at just 3. 4% in the past 12 months, are certain to spike in 2009.

Junk bond trader trying to sell a sucker a stock

But the buyouts have been fueled by financing from a junk-bond market that was severely weakened last month