Junk bond issuance reached a record $53.8 billion in the second quarter, buoyed by strong demand for capital and investors' quest for yield, according to Securities Data Co.

With issues at nearly double the $28.6 billion logged in last year's second quarter, the high-yield market is well on its way to another record year. During the first half, both registered and unregistered junk bonds totaled $99.9 billion. There was $124 billion of issuance in all of last year.

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