Junk bonds Yield to traffic

Until recently, investors in high-yield bonds were none too choosy about what they snaffled up. Their main concern had been to earn a premium above the yield on Treasury bonds. This state of affairs may be changing. A number of planned high-yield issues, including one for the upscale retailer Neiman Marcus, have recently been scaled back or pulled. Rising interest have taken the lustre off the high-yield market. Investors are finally waking up to the fact that in their dealings with the issuers ...