SECURITIES
From Times Staff and Wire Reports
Record Junk Bond Sales Expected: Junk bonds sales for this year are expected to exceed the record set in 1986, when the high-yield market was the favorite of investors. The sale of $1 billion in junk bonds expected this week will push the total of new issues beyond the record $31.9 billion sold in 1986. The market ground to a halt two years ago but has since revived, producing returns of about 15% and outpacing returns on other securities. Investor demand for the bonds has been strong, even by portfolio managers who traditionally buy only investment-grade bonds.
