Acquisition of Treasuries trading platform moves exchange operator into new asset class.

Shift from market-size benchmarks may raise borrowing costs for industrialized nations.

Shift from market-size benchmarks may raise borrowing costs for industrialized nations.

Funds see big inflows to buy speculative-grade loans as bonds lose luster.

Funds see big inflows to buy speculative-grade loans as bonds lose luster.

Asset managers reduce holdings of lowest-rated junk bonds.

Asset managers reduce holdings of lowest-rated junk bonds.

The value of new junk bonds is rising relative to outstanding debt.