Moody's Investors Service predicts that the number of U.S. corporate defaults will more than quadruple next year from 1% to 4.7%, due to the slowing economy, according to Bloomberg News.

According to research by Merrill Lynch, corporate bonds returned just 3.08% in 2007. In comparison, treasury bonds returned 7.79%. Merrill is calling 2007 the worst year for company debt since 2000.

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