Debt Financing: A 'Temperamental' Market

The high-yield debt financing market has been "temperamental" through 2010, shutting down or growing expensive in reaction to periodic bad news, sources say. Overall corporate high-yield issuance in all sectors totaled nearly $40 billion in March, an exceptionally high level, but fell to around $10 billion in May and June. Looking forward, some rebound is expected, but not to the high levels seen earlier this year. Even accounting for the rebound, some volatility in the high-yield market is expected to remain, sources say. It's been a bumpy road for...

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