Debt Market Opens Up

Bonds Are Back, But Uneven debt markets, which froze along with the economy earlier this year, have mounted a rally in the past several months and chemical companies have taken advantage to refinance and lock in lower interest rates. As the economy has stabilized, investors have flocked to investment-grade issuers in search of higher yield in a low interest rate environment, says Peter Young, president of Young & Partners (Y&P; New York). Investment-grade bonds are “a compromise between high-yield bonds and treasuries” which are near record lows...

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