This new perspective recalling the ten years after the explosion of financial myths in the 1980's offers a unique opportunity to update and continue the arguments that were presented in Glen Yago's 1991 book, Junk Bonds: How High Yield Securities Restructured Corporate America. Beyond Junk Bonds provides a comprehensive presentation of the firms and securities represented in the high yield market. In addition, there are examples of the firms and institutions who are benefitting from the "new cycle", both in the US and abroad.