Anyone seeking a bid on a high yield bond had to be prepared to wince.

FORBES: How Cheap Is High Yield?

Bid-to-cover ratio was 1.5 compared to 1.8 last month for a similar bond.

FORBES: Blame The IMF For The Big Drop In Gold

The 10-year bond attracted bids worth 1.65 times the amount on offer, up from a so-called bid-to-cover ratio of 1.32 in January.

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