The post-holiday slumber is wearing off and market activity is starting to pick up. A $5 million piece of Voicestream's "A" tranche traded at 97 _, and Nextel's "B/C" tranche traded at par plus 1/4.
On the distressed side, $10 million of Finova Group's 01 paper traded at 74. Dealers report about $30 million of Federal Mogul's bank debt traded this week in the mid-60s. There was a failed auction for a $12 million piece of Warnaco Group's debt, with bids coming in below the asking price of around 50.