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Wall St banks seen holding junk-bond baby

They are stuck with piles of debt that they are struggling to sell after investors turned skittish

IN THE COLD: JPMorgan Chase and Goldman Sachs are among the underwriters that may now have trouble selling the debt used by Apax Partners to take a controlling stake in Fullbeauty .

New York

IN recent years, Wall Street firms have reaped big profits in the scrappy reaches of the credit markets, selling the debt of companies with weak credit ratings to investors who crave higher returns.

But now, as investors have suddenly grown skittish, some big Wall Street