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	High-yield debt -- Facts, Info, and Encyclopedia article (Site not responding. Last check: 2007-11-07)
		Bonds in other countries may be rated by US rating agencies or by local agencies like the Dominion Bond Rating Service (DBRS) in (A nation in northern North America; the French were the first Europeans to settle in mainland Canada) Canada.
		Junk bonds became ubiquitous in the (The decade from 1980 to 1989) 1980s by investment bankers, such as (Click link for more info and facts about Michael Milken) Michael Milken, as a financing mechanism in (Click link for more info and facts about mergers and acquisitions) mergers and acquisitions.
		Junk bonds are still used to finance (Click link for more info and facts about capital intensive) capital intensive industries such as ((often plural) systems used in transmitting messages over a distance electronically) telecommunications.
	www.absoluteastronomy.com /encyclopedia/h/hi/high-yield_debt.htm (887 words)

	Junk Bonds are Risky: Buy Stocks Instead
		Junk bonds are the IOUs of corporations that have a reasonable possibility of default.
		Unlike good-quality bonds, where the primary risk is changes of interest rates, the primary risk for junk bonds is default.
		The yield on the bond is 5.5 percent.
	www.archierichards.com /articles/JunkBonds0445.htm (639 words)

	High Yield Bonds
		Junk bonds- (2002) According to Merrill Lynch and Co. data, the spread of junk bonds to Treasurys is over 10.6 percentage points, the biggest gap since the company began tracking the relationship in 1986.
		Bond analysts have warned that junk bonds are too richly priced after a sharp rally this year, turning some investors cautious on the market, however.
		Junk bonds: (2004) The global junk bond default rate fell to 4.54% in January from a revised 4.71% in December, and should continue to fall courtesy of favorable financing conditions and an improving economic outlook, according to Standard and Poor's.
	www.efmoody.com /investments/junk.html (5428 words)

	High Yield or "Junk" Bonds (Site not responding. Last check: 2007-11-07)
		A high yield, or "junk", bond is a bond issued by a company that is considered to be a higher credit risk.
		Bonds considered to have an acceptable risk of default are "investment grade" and encompass "BBB" bonds and higher.
		Bonds "BB" and lower are called "speculative grade" and have a higher risk of default.
	www.finpipe.com /bndjunk.htm (535 words)

	junk bonds
		The advent of modern portfolio theory meant that financial researchers soon began to observe that the 'risk-adjusted' returns for portfolios of junk bonds were quite high.
		Junk Bonds are high yield bonds issued by companies that are considered highly speculative because of risk of default.
		High yield or junk bonds are bonds issued by companies that are considered a higher credit risk.
	www.tradeskimmer.com /junk_bonds.htm (299 words)

	Junk Bonds, by Glenn Yago: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Bond ratings measure the riskiness of bonds (that is, the chance that the issuer will be unable to make interest payments or repay the principal).
		Bonds with more A's are less risky than bonds with fewer A's, and the highest rating (for Standard and Poor's) is AAA, or triple-A. Credit risk is based on a multitude of factors, many of which are linked to performance in the past.
		The only publicly traded junk bonds were ones that originally carried investment-grade ratings and had subsequently been "downgraded" because the financial strength of the issuing companies had deteriorated.
	www.econlib.org /library/Enc/JunkBonds.html (1344 words)

	Junk Bonds Slowly Turn into Junk: Advisers say the free ride is over, but some value can still be found.
		Junk Bonds Slowly Turn into Junk: Advisers say the free ride is over, but some value can still be found.
		Junk bonds have outperformed most other fixed-income asset categories this year, returning 14% since the end of 2002, including interest and capital gains, and pulling in record inflows since January.
		Morningstar bond fund analyst Scott Barry said that if the default rate continues to drop or the economy shows marked improvement, junk bond funds could continue to do well.
	www.financial-planning.com /pubs/fpi/20030603102.html (614 words)

	Forbes.com: US junk bonds lead fixed-income returns in 3rd qtr (Site not responding. Last check: 2007-11-07)
		NEW YORK (Reuters) - Junk bonds are on pace to lead all major categories of U.S bonds for the fourth quarter in a row, rewarding investors with total returns of nearly 21 percent for the year to date.
		Junk bonds, by contrast, returned 2.5 percent for the quarter, including interest and price appreciation, as their high yields helped cushion the impact of rising interest rates.
		The healthy junk bond market has been a tonic to debt-laden companies, many of which were shut out of capital markets in recent years as accounting scandals and bankruptcies soured investors on risk.
	www.forbes.com /business/newswire/2003/09/30/rtr1095073.html (652 words)

	MsMoney.com - Types of Bonds - Junk Bonds
		Junk bonds are typically issued by companies that are either in trouble and need to raise cash or by companies that just want to raise cash without having to sell more shares of stock.
		Because they are high risk, junk bonds generally offer higher yields than other bonds to compensate for the additional risk.
		A safer way to invest in junk bonds is through a junk bond mutual fund.
	www.msmoney.com /mm/investing/portfolio_basics/junk_bonds.htm (125 words)

	How risky are junk bonds? - Aug. 27, 2001
		Over the last couple of years, junk bonds -- or to use the fund industry's euphemism, "high yield bonds" -- have stunk up the joint, returning an annualized minus 2.3 percent over the past three years.
		Remember, junk bonds often are issued by new and untested ventures, or at the very least, companies not on firm financial footing.
		The first, which I endorse, is to invest in junk bond funds and hold them for a long time, say, 10 years or more, so that the gains during up-cycles make up for the lousy performance when the economy and junk market are weak.
	money.cnn.com /2001/08/27/expert/expert (350 words)

	Junk Bonds Seem Poised to Regain Former Glory (Site not responding. Last check: 2007-11-07)
		Junk, or high-yield, bonds are hot again, amid a growing view that the worst is over for the economy and fewer companies will default on their debts this year.
		Investors are turning to junk bonds because their pricing remains attractive by historical terms.
		Also, the health of the companies that issue junk bonds is looking up in recent weeks with growing indications the economy is ready to rebound.
	www.bradynet.com /bbs/nonem/100046-0.html (785 words)

	Sound Mind Investing : Junk Bonds: Still Deserving of a Spot in Your Bond Portfolio? (Site not responding. Last check: 2007-11-07)
		Junk bonds are corporate bonds that have been given low ratings by independent grading firms such as Moody's and Standard & Poor's.
		Junk bond investors are realistic enough to expect some of their holdings to eventually default.
		A healthy economy is very important to buyers of junk bonds because it helps maintain a positive cash flow that enables even weaker companies to keep up with their interest payments.
	www.soundmindinvesting.com /visitor/2003/jan/target.htm (1071 words)

	Amazon.com: Books: Junk Bonds: How High Yield Securities Restructured Corporate America (Site not responding. Last check: 2007-11-07)
		Junk bonds burst into the nation's headlines as the fastest growing and most controversial financial instruments of the 1980s.
		The real contribution of junk bonds, according to Yago, was to improve the productivity and competitiveness of American business by restructuring companies in the wake of the corporate conglomerations of the 1960s and 1970s.
		Junk Bonds provides readers with a scholarly analysis that shears away the hype and hysteria that often accompany rapid change.
	www.amazon.com /exec/obidos/tg/detail/-/019506111X?v=glance (690 words)

	Yields shrink on junk bonds (Site not responding. Last check: 2007-11-07)
		Junk bonds have gained popularity in the last two decades as a way to get stock-market-like returns with relatively predictable income.
		Bulls on junk bonds say that there's no reason for the market to trip up just yet -- the economy is doing fine, inflation remains relatively tame and the Federal Reserve still looks likely to raise its target short-term rate in a measured way that will remain relatively benign for corporate borrowers.
		Geoffrey Gwin, a hedge-fund manager, says junk bonds are more interest-rate sensitive than before because their yields are closer to Treasurys than they have been in about seven years.
	www.sfgate.com /cgi-bin/article.cgi?f=/news/archive/2004/12/27/financial0949EST0022.DTL (1052 words)

	Investment Advisers Still Upbeat On Junk Bonds: Yields have come down, but they're still attractive, and default rates ...
		While the average yield on junk bonds has fallen since the beginning of the year -- Standard and Poor's speculative grade credit spread is down to 693 basis points from around 1,011 in January -- it's still very attractive relative to other asset classes.
		Michael Boone, a CFP at MWBoone and Associates in Bellevue, Wash., said he's been recommending junk bonds since the end of 2001 and that he will continue to do so until the yield spread with Treasuries falls to around 2%.
		Still, there are risks, and advisers should do their research before jumping on the junk bond band-wagon.
	www.financial-planning.com /pubs/fpi/20030422100.html (527 words)

	Ask the Expert: Junk bonds booster - Jun. 24, 2005
		I've always been a proponent of keeping a portion of one's bond portfolio in high-yield -- or, to use their less euphonious name, junk -- bond funds because they provide a bit more diversity and their higher yields can sometimes offer a bit of a cushion against rising interest rates.
		The reason I recommend caution on junk bonds is that even though they have a pretty good record of delivering attractive long-term returns, they can be kind of tricky for people who aren't familiar with the ways different types of bonds behave.
		Intermediate-term bond funds -- that is, those that buy bonds with maturities of four to seven years or so -- gained an impressive 9.75 percent, according to fund tracking firm Morningstar.
	money.cnn.com /2005/06/24/pf/expert/ask_expert/index.htm?section=money_pf (801 words)

	High Yield (Junk) Bonds (Site not responding. Last check: 2007-11-07)
		High Yield "Junk" bonds were invented to enable smaller companies or big investors to use bonds and bond markets to finance takeovers.
		In the junk bond fund you may lose only 25 percent of your principal versus 100 percent in an individual bond.
		He started with bonds issued in 1977 and assumed that if a hypothetical investor bought every high yield bond issue between 1978 and 1986, 34 percent of the bonds would have defaulted by November 1988.
	www.powerinvestor.com /Primer/Bonds/High-Yield-Junk-Bonds.htm (280 words)

	Junk Bonds: Everything You Need to Know
		For many investors, the term "junk bond" evokes thoughts of investment scams and high-flying financiers of the 1980s such as Ivan Boesky and Michael Milken, who were known as "junk bond kings".
		From a technical point of view, a junk bond is exactly the same as a regular bond.
		Junk bonds are an IOU from a corporation or organization that states the amount it will pay you back (principal), the date it will pay you back (maturity date) and the interest (coupon) it will pay you on the borrowed money.
	www.investopedia.com /articles/02/052202.asp (853 words)

	Encyclopedia: Junk bonds
		When analyzing the risk of a high-yield bond, it is important to keep in mind that the expected return from a basket of high yield bonds should approximate that of a similarly diversified list of high grade bonds.
		The primary difference is that low-rated bonds have a higher expected probability of default, which means that a greater proportion of their expected return comes from interest payments, rather than principal.
		Default swaps, which are essentially a bet that a given company will go bankrupt, did trade at a premium for Enron -- an irony, given that the Houston company was an early pioneer in trading them.
	www.nationmaster.com /encyclopedia/Junk-bonds (725 words)

	Truth about junk bonds
		A junk bond is issued by a corporation or municipality with a bad credit rating.
		The bond is like an IOU or promissory note -- it states the amount that will be paid back, when it will be paid back, and what interest will be paid on the borrowed money.
		Never buy individual junk bonds because they are too risky.
	www.bankrate.com /brm/news/dollardiva/20000105e.asp (363 words)

	Don't Overload on Junk Bonds for Income
		The big picture for junk bond prices in 2002 and probably 2003 is bright because in the past, economic recoveries have been excellent for junk bonds' market values.
		As the income element slides, junk bond funds come under even more pressure to have a good year on the capital-growth side so investors can collect a respectable yield and maintain their principal.
		Junk bonds will always be a few percentage points higher than Treasuries, but not so high that you should abandon all caution and gorge on the stuff.
	www.kiplinger.com /columns/balance/archive/2002/balance0617.html (625 words)

	TheStreet.com: How Much of My Portfolio Should Be in Junk Bonds?
		Although junk bonds act more like equities, and their prices are more volatile than those of investment-grade bonds, you still are going to receive interest payments from those bonds -- unless they default.
		If you have a small amount of assets and are dependent on bonds to produce income, then junk may not be the right choice.
		Junk bonds are too risky and complicated for the average retail investor to purchase individually.
	www.thestreet.com /funds/tscfundforum/413985.html (873 words)

	junk bonds (Site not responding. Last check: 2007-11-07)
		A high yield, or "junk", bond is a bond issued by a...
		Junk bond is a business term referring to a debt instrument (bond) that has a higher risk of defaulting.
		Junk Bonds: Everything You Need to Know - Don't be fooled by the name--junk bonds may be for you if...
	www.financial-repeater1.com /articles/169/junk-bonds.html (405 words)

	CCH Financial Planning Toolkit \| Junk Bonds
		Let's walk through what junk bonds actually are and see if they live up to their label.
		Of the various types of bonds, junk bonds are simply those issued by corporations and considered high-risk.
		On the other hand, if the company issuing the junk bond has poor growth and low profits or a lot of debt, chances are good that the risk is one you shouldn't chance.
	www.finance.cch.com /text/c20s15d170.asp (227 words)

	Bonds article - Bonds bond Junk bond Zero-coupon bond Barry Bonds Chemical bond ionic - What-Means.com (Site not responding. Last check: 2007-11-07)
		A financial bond (including a Junk bond or a Zero-coupon bond)
		A Chemical bond (including the ionic bond, covalent bond, coordinate covalent bond, metallic bond, hydrogen bond, Carbon-carbon bond, Disulfide bond and Glycosidic bond)
		This is a disambiguation page; that is, one that points to other pages that might otherwise have the same name.
	www.what-means.com /encyclopedia/Bonds (115 words)

	Junk Bonds Smell Sweeter Than You Might Imagine
		Investing in junk bonds now may seem like buying a new car right before the model year-end clearance sale.
		After all, these are bonds issued by companies with highly leveraged balance sheets that suffer most in a downturn.
		The way to measure that is with the yield spread: the yield on junk minus the yield on risk-free Treasuries.
	www.thestreet.com /comment/realdeal/10002268.html (989 words)

	Junk Bonds
		Junk Bonds - Bond issued by companies that get a low credit rating.
		Generally, all bonds that are graded less that BBB are considered junk bonds.
		These are high default risk bonds that can offer high returns.
	www.speculativebubble.com /terms/junkb.shtml (37 words)

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