While the high-yield market may rest on slightly wobbly legs for the short term, a Salomon Brothers Inc. analyst sees it standing tall for the long run.

"Short term, I'm a little nervous about the market," Joseph Bencivenga, Salomon's director of high-yield research, said of the secondary market yesterday. But he added, "You can't help but be long-term positive on this market place."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.