But the $8 billion figure is the face value of the high-yield bonds.
"But they really do get across the point of what high-yield bonds are all about."
Last year, the total return for high-yield bonds was 28.1 percent, the best ever.
I would have at least 10 percent in good old-fashioned high-yield bonds.
Shouldn't a growing economy be good news for high-yield junk bonds as well?
As for high-yield bonds, there was more talk than trading.
"We can't find anything to buy that looks attractive except high-yield bonds."
But other areas of the debt business, particularly high-yield bonds, remained soft.
Such loans are typically replaced within a year by high-yield bonds.
That, in turn, should make it easier to find buyers for the high-yield bonds, he said.
