In the junk bond sector, my decision was to avoid duration risk with a few exceptions.
And the pair, like many Americans, have reached for yield in a junk bond fund.
With the help of junk bond financing from Michael Milken, Hurwitz took over Simplicity Pattern Co.
Last month Nomura announced it was looking into setting up a junk bond trading desk.
Sometimes (I own shares in a Fidelity junk bond fund) to corporations like yours.
It has come down to this: Nokia is now just another junk bond issuer.
FORBES: Nokia Debt Rating Downgraded To Junk Status Buy Fitch
So you can call me lots of things, but please, not junk bond king.
Yet the fact remains: In late 1989 and 1990 the junk bond market was in panic.
Prior to Hamilton's working his magic, the U.S. had been a deadbeat, junk bond nation.
Part of their concern is tied to the explosion in the high-risk or junk bond market.
Junk bond funds are yielding north of 7% and trading at a discount to boot.
This gives their sophisticated in-house credit-analysis teams huge advantages over the junk bond fund managers and analysts.
But as junk bond financed companies continued to come under attack RJR bonds fell to big discounts.
Treasury bonds finally are outperforming stocks, but there is a minor panic in the junk bond sector.
But meanwhile, investors should continue to feast on preferreds, adjustables and keep their eyes on junk bond funds.
Junk bond yields fell to a record low a few days ago and are staying near those levels.
They talk about junk bond companies going under, but look at the records of some of those big-company takeovers.
Junk bond issuers have also been busy strengthening their balance sheets by refinancing at low rates and longer maturities.
Iceland still has junk bond status in the eyes of the ratings agencies.
Silicon Valley-style venture capital emerged during the 1970s, as did venture debt, better (and unfortunately) known as junk bond financing.
It bothers me that I coulda bought 10-year Treasuries instead of working like a dog doping out junk bond paper.
If this Soviet-style "junk bond" comes to fruition, it would be the fourth such Soviet bond issue since January 1988.
But, my junk bond portfolio dwelled in double digit returns the past 5 years and still gets my new money.
At the height of the art market's last cyclical peak, 1988-89, I wrote that Van Gogh's "Irises" was a junk bond.
The difference between Treasury and junk bond yields increased to 743 basis points, the widest the spread has been since early December.
But by the time of his jailhouse interview with the junk bond king, Michaels had come to see Milken in a Schumpeterian light.
Our government was once a junk bond credit and its debt traded at 15 cents on the dollar before Alexander Hamilton successfully restructured.
The only emerging market nations to see downgrades or credit outlook changes to negative were in the junk bond space, and some corporates.
FORBES: "Third World" No More as Emerging Markets Upgraded, Developed Markets Downgraded
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