Wednesday, April 3, 2013

The Next Lehman ?

From hereisthecity: 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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