The industry has suffered from a lack of new issuance in the past several years, as well as a lack of demand for the existing supply The result has been a steep drop in the prices of high-yield bonds as investors have rushed to sell bonds to raise cash for their deals With fewer bonds available, investors have been forced to buy longer-dated maturities, driving up the average maturity of the high-yield market --- Send in a voice message: https://podcasters.spotify.com/pod/show/david-nishimoto/message