Newcomers shake up the corporate bond market

Buyside newcomers in the bond market, notably hedge funds and vulture funds, have really shaken up the secondary market for auto company bonds. There's a lot more volatility in pricing and a more aggressive approach on trading desks. There's still a solid core of buy-and-hold bond holders. For these investors, the game is changing. They do not necessarily like the added volatility, but the newcomers do add a source of liquidity at a time when many are pondering an exit.

> Here's an Investment Dealers' Digest article. (exclusively for FierceFinance readers)