The car crusher

market graphic

pg49-graph-gif

After a couple of years of highly respectable returns in the corporate bond market, spreads have finally begun to bleed out, due almost entirely to a plethora of problems at the domestic automobile manufacturers. Just a month after General Motors reduced its earnings expectations, the carmakers’ annual talk with labor leaders failed to shift the burden of their health-care costs, pushing share prices to their lowest levels in 12 years.

Even though the broader market has been resilient—as the

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: