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Bonds Cap Epic Comeback

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EPIC COMEBACK OR BUBBLE? YOU DECIDE
"A total of $31.5 billion in new high-yield debt, otherwise known as junk bonds, hit the market through Tuesday, exceeding the previous monthly record in November 2006. Partly propelling the activity: The Federal Reserve's massive mortgage-buying program, which comes to an end Wednesday," the WSJ notes. "Today, with the Fed's mortgage-buying program coming to an end, the debate is turning to whether the economy can sustain the rally. The odds are increasing that corporate-bond gains may be limited from here, given the heights already reached, the government's reduced support and the risk of rising interest rates."

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