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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: jjetstream who wrote (102500)5/16/2001 1:35:51 AM
From: Perspective  Read Replies (2) of 436258
 
Bonds rated ``Caa,'' Moody's lowest rating other than default, now make up about 35 percent of the
market, up from 13.6 percent in 1999, said Moody's Chief Economist John Lonski.

Holy sh&t! I had no idea - fully 1/3 of junk bond issuance is a single step from default!

BC
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