It is barely above the level for high-risk, or junk, bonds.
Since last year, the market for these high-risk bonds has been extremely volatile and prices of many issues are down sharply.
It had been among the largest buyers of high-risk "junk bonds" in the past decade.
General Media was privately owned until 1994, when it offered the public high-risk bonds and divided its operations in two.
Still other life insurers have reported serious problems from their investments in high-risk "junk bonds" or commercial mortgages.
Companies 7-Eleven's owner delayed plans to take the company private, because of the unreceptive climate for high-risk bonds.
Why take the chance they will lose billions more by investing in exotic, high-risk "junk bonds"?
Nevertheless, prices for the high-risk, high-yield bonds drifted lower during the day, market participants said.
The bank's investment paid off handsomely when prices of the high-risk bonds bounced back strongly.
The market for high-yield high-risk bonds seems to be experiencing setbacks on every front.
