Companies that have issued high-yield securities create jobs at four times the average rate for all companies.

Demand for the issue is reported to be very strong, particularly among Japanese investors and insurance companies looking for higher-quality, high-yield securities.

Columbia, which is controlled by the Spiegel family, holds $3.8 billion worth of junk bonds and similar high-yield securities.

The amount of new high-yield securities, the low-rated issues sometimes referred to as junk, fell 42 percent.

That contributed to a wave of selling in the overall market for high-yield securities.

At least four issues of the high-yield securities, totaling more than $1.5 billion, were postponed because of poor market conditions.

An additional 26 percent was in bonds, mostly high-yield securities.

The author of a new study on the high-yield securities thinks so.

Many found it easy to raise money in recent years by issuing high-yield securities, or junk bonds.

Mr. Solomon was a portfolio manager who specialized in high-yield securities.