"It's a great time to be issuing high-yield debt but not to be investing in it," says a P-E honcho, as European bank debt is the latest to benefit from investor's quest for any sort of yield. Of note, recently bailed-out Bank of Ireland found strong demand this week for $1.3B of bonds. "The markets have seen this movie before," writes Jason Zweig. Previous: The worm may have turned for high-yield.
"It's a great time to be issuing high-yield debt but not to be investing in it," says a P-E...
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