Usual January jump for high-yield bonds may be off this year

01/4/2008 | Wall Street Journal, The

January is usually a big month for high-yield bonds as cash collected at year-end is put to work again, creating a market for new corporate debt. That may not happen this month. The credit crunch has left a backlog of about $230 billion in debt underwriters need to sell investors. The oversupply is allowing investors the luxury to be picky.

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