The recent turmoil in the credit markets has created problems for issues of the highest quality debt all the way down to the junkiest of junk bonds which trade at ratings under "BBB" or "Baa." When you have quality firms such as GE and Goldman Sachs paying nearly 10% for Warren Buffett to put on the corporate sweatshirt, and IBM forked out 8% for 30-year maturity debt.
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