peHUB First Read

Some links to kick off your Monday:

* The junk bond market has gone from bad to good to bad again.

* Facebook is putting its new funding to M&A work. First up? Chinese counterpart Zhanzuo.com, according to The Times.

* Private equity gains ground in recruitment battle, but for how long?

* Pitango Venture Capital has raised $330 million for its fifth fund, according to PE Week (sub req.). Could be good news for other Israeli VC firms, as Pitango’s fundraising often helps soften the LP market for its peers.

* PE-backed Hoboken Wood Flooring is going out of business.

* If Fox Business News falls in the forrest, does it make a sound?