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Spreads on euro-denominated sovereigns issued by new members of the European Union are so tight that some market watchers are questioning whether there will be any juice left when these countries actually join the euro.

Columbia Management Group is overweight low-quality credits, said Tom LaPointe and Kevin Cronk, portfolio managers of a $3.5 billion high-yield fund in Boston.

Michael Youngblood, head of mortgage research at GMAC-RFC Securities, has resigned. Youngblood, a well-known veteran who worked out of GMAC-RFC's Bethesda, Md. office, was hired in 2002 to develop a mortgage research effort.

Scott Page, portfolio manager for Eaton Vance Corp., on Citibank's decision to waive assignment fees.

European investors including Standard Life Investments, Morley Fund Management and Prudential M&G are joining forces to push for increased transparency in corporate bond sales.

Brian McBride, head of European high-yield and loan capital markets at UBS in London, has left the firm.

Play Ball... Bank of America has declared itself the "Official Bank of Baseball" after becoming the first company to concurrently sign agreements with Major League Baseball Properties, Minor League Baseball and Little League Baseball.

First Investors Management will consider adding 5% and 5 1/2% Ginnie Mae mortgage-backed securities and extending duration by adding 15-year mortgage bonds in its $200 million GNMA fund.

BNP Paribas in London has lost another bond salesman and three credit traders.

This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

--Stephen Wilson-Smith, head of credit research at Prudential M&G in London, on why investors are pushing for enhanced transparency from European corporates.