Ghost of Igloi wrote:
Joe,
You put on a good act, but again you missed the point. Not only is the yield low but the quality of the bond is going down. Google "covenant light" and you will learn something.
Igy
Covenant lite? Do you even read the articles that you post?
"Ray Kennedy, a high-yield money manager at Hotchkis & Wiley, which oversees $28 billion, said he’s watched new money flow into junk bonds but hasn’t seen an uptick in “stupid stuff†-- companies tapping the market to fund shareholder rewards or leveraged buyouts. “We’ve been pretty disciplined on the new issue side,†Kennedy said."