Rethinking Those Hot High-Yield BondsBen Levisohn
Junk bonds are red-hot. In the week ended Oct. 23, $5.5 billion of new high-yield debt was issued, with deals from RiteAid (RAD) and ViaSat (VSAT) closing out the week. Issuance this year has topped $118 billion, nearly twice as much as in all of 2008. Investors have reaped the benefits, with high yield bonds returning nearly 50% year-to-date.
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