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Managers generally buy and hold high yield debt.
Bill's previous experience includes approximately 25 years of leveraging loans, private placements and high yield debt.
Crisis in high yield debt. Margin debt is at the highest level in history.
Second, never in history has the secondary market for high yield debt been more illiquid than it is today.
"We're having a fantastic year in terms of investment grade debt and high yield (debt).
Deals completed during this period tended to be smaller and financed less with high yield debt than in other periods.
Similar(54)
Pension, insurance and mutual funds all own high-yield debt.
Prices of municipal bonds, bank loans and high-yield debt all fell as well.
"Subprime is so cheap, compared to high-yield" debt of other types, he said.
Even firms with patchy credit records are issuing "high-yield" debt to investors clamouring for returns.
But the broader popularity of high-yield debt is making money managers nervous.
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