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Lisa Napoli: After languishing in recent weeks, the junk bond market got a boost from last week’s Fed rate cut. Marketplace’s Amy Scott looks at whether that means a real rebound.

Amy Scott: Yellow Pages publisher R.H. Donnelly sold $1 billion worth of junk bonds last week. It was the first big sale since mid-summer.

Scott Minard is chief investment officer at Guggenheim Partners Asset Management. He says the Fed’s decision to cut interest rates last week gave investors the confidence to dip their toes back into the market.

Scott Minard: The Fed put the punch bowl back on the table, and we’re going back to the party.

It may be too early to celebrate.

Martin Fridson publishes the research newsletter Leverage World. He says commercial and investment banks have taken on billions of dollars in debt to finance leveraged buyouts. They planned to sell that debt to investors.

Martin Fridson: The problem is $300-plus billion of debt that was designed for very different market conditions.

Fridson says it will be harder to finance new deals until banks unload some of that debt. They’ve made progress in the last few weeks, but they had to sell at a discount.

In New York, I’m Amy Scott for Marketplace.