Thursday, December 31, 2015

High Yield Bond Market Since Milken And Drexel

From BloombergBusiness, "Renegades of Junk: The Rise and Fall of the Drexel Empire: The people who lived through Michael Milken's Wall Street saga tell it in their own words, 25 years later" by Max Abelson, Jason Kelly, and David Carey:
Some people thought it [High Yield, aka Junk, Bond Market] was a sham, it's rigged. Now it's a trillion-dollar market. It's anything but a sham.

Source: BloombergBusiness

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