From Barron's 8-6-07: "One closed-end fund worth a look is Western Asset High Income Opportunity Fund (HIO), which doesn't have the extra leverage of many other closed-ends. The leveraged ones have more volatility during big moves up or down, says Mariana Bush, analyst at Wachovia Securities. The fund trades at a 12% discount to net asset value, compared with a 6% discount at the end of May."

From Barron's 8-6-07: "There's even an exchange-traded fund for junk, the iShares iBoxx $ High Yield Corporate Bond Fund (HYG), which closely mirrors average prices in the $1 trillion high-yield universe and carries lower fees than mutual funds. Launched in April, its shares have returned a total of negative 6.10% in the past three months."

From Barron's 8-6-07: "Some of the safer and most intriguing bonds are in the casino sector, including MGM Mirage (MGM), which reported boffo earnings this week. "When the market recovers, it will be a blue chip that investors will flock to," says Barbara Cappaert, analyst at Montpelier, Vt.-based high-yield research firm KDP Investment Advisors."

From Barron's 8-6-07: "General Motors Acceptance Corp.'s 6[frac78]% bonds due 2012, in part because it's a big issue that's easily traded. The bonds have a dollar price in the low-90s, yielding nearly 9%, a spread of 4.4 percentage points over comparable Treasuries. And this is for a bond at the cusp of investment grade."

From Barron's 8-6-07: Bonds due 2016 trading at 95.5 and yileding 7.86%. Satellite company has high and rising margins.