|
|
Article: JUNK BONDS ARE BACK, MAKING MONEY THIS TIME.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- November 3, 1991
CopyrightCOPYRIGHT 1991 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Edmund Sanders Los Angeles Daily News
Once reviled as instruments of greed that fueled the excesses of the '80s, junk bonds are becoming one of the most lucrative investments of 1991.
Total returns for the risky high- yield corporate bonds are reaching as high as 35 percent this year, analysts say. Prices are at their highest levels since 1989.
"It's back with a vengeance," said Martin Fridson, managing director of high-yield research for Merrill Lynch Capital Markets in New York. "It looks like it's going to be a record year."
The rebound, which began in early 1991, comes on the heels of a two-year drop in the market that saw ...