caroline: bob miller, krishna memani, james athey sticking with us.oming up, we are turning our attention to leverage loan investors. they are running for cover. why money managers are plunging into the least risky junk debt they can find. this is bloomberg "real yield." ♪ caroline: i'm caroline hyde in for jonathan ferro. this is bloomberg "real yield." i want to go to the auction block, and we begin in asia, where japan's corporate market -- corporate debt market hit a record low yield offering a big fat zero. toyota motors will offer two tranches of ¥20 billion in three and five year bonds each on october 25. high-yield issuance slow this week. charter communications so on investment grade notes. the proceeds of the offerings will be repaying a portion of the company's debt. in the u.s., direct hitters came out in full force at the new auction, the highest direct share on record. flighte, while investors to quality pushed on average prices of lower rated leverage loans. says riskier debt is still there. they said they are starting to find opportuni

caroline: bob miller, krishna memani, james eight the sticking with us. coming up, we are turning our attention to leverage loan investors. why money managers are plunging into the risk -- least risky junk debt they can find. this is bloomberg "real yield." ♪ i'm caroline hyde in for jonathan ferro. this is bloomberg "real yield." auctiono go to the block, and we begin in asia, where japan's corporate market debt hit a record low yield offering a big fat zero. toyota motors will offer two tranches of ¥20 billion in three and five bonds each on october 25. high-yield issuance slow this week. charter communications -- >> we want to take you to the international monetary policy. >> how are you doing, what is your secret sauce? how are you achieving the kinds of returns and the numbers you put up this week? >> welcome, everybody, thrilled to be here. i don't pay that much attention to quarterly earnings. for most companies, that where you earn money this quarter, decisions you made over the last 5, 10, 15 years, technology built, things you inherited. buildin