From HereisthecityL Less than five years on from the bankruptcy of Lehman
Brothers the world is maybe facing another crash of epic proportions.
Sales of high-yield debt – or, as they were once known, junk
bonds – have exploded this year. In January alone, non-investment grade Asian
companies, those whose debt is ranked by credit rating agencies as riskiest,
sold just over $9bn of high-yield bonds, a year-on-year increase of more
6,000%, according to figures from data provider Dealogic. In Europe, sales of
high-yield debt is also running at record levels and nearly $30bn of bonds have
been sold so far this year…
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