Credit market dilemma

The June swoon in junk bonds market poses a dilemma for many investors: Is it time to move in and buy at lower prices, or should they wait to see how the scenario unfolds? In recent years, whenever junk suffered a setback, those who rushed back quickly were well-rewarded. But the current situation could be different, some fear. One worry is the massive new-issuance calendar... Concerns have been exacerbated by problems at BSC hedge funds. Meanwhile, pressure on mutual funds to invest has been reduced by withdrawals of investor moeny. HY funds have lost $1.6 bil during hte past four weeks, according to AMG Data Services.