Investor demand for U.S. corporate bonds and loans has been strong. The economy appears less likely to enter a double-dip recession, and corporations don't have a lot of debt on their balance sheets. "We're not at the same level of dysfunction as 2008 by any stretch," said John Bender, head of U.S. fixed income at Legal & General Investment Management America. "The corporate-bond market is functioning. New deals are coming, and you can trade in the secondary markets."