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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Baldur Fjvlnisson who wrote (1789)	1/20/2001 1:44:34 PM
From: Don England	Respond to of 74559

<<Just as bad, if not a lot worse, is the situation in the other lending channel of the financial system: the capital markets. The junk-bond market has collapsed, with yields at their highest level in a decade. Actually, a growing number of investment-grade bonds are trading as if they are junk. As stock prices drop, dealers and inventors quickly mark down the value of related bonds as well.>> don't mean to be contrary, but i was under the impression that only lately a lot of (junk) bond deals were suddenly getting done again, but what does this mean for the implied credit crunch and closing of the spigot? can't say i understand. don