On the Fritz

Martin Fridson


The high-yield market turned decidedly unfavorable during April 2005. Underwriters postponed some high-yield offerings that were designed to refinance bridge loans, citing market conditions. Pundits widely attributed the weakness to potential oversupply, based on the possibility that both General Motors and Ford Motors would join the speculative-grade universe through downgrading.

To high-yield market veterans, it was disturbingly reminiscent of the early stages of the Great Debacle of 1989–1

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: