Sector roundup


Not even the largest bond issue ever by a US corporate, $16.8 billion from GM, could worry credit investors for more than a day or two. Although spreads softened slightly after the deal in the autos and industrials sectors, they quickly firmed up again.

The low growth and no growth in the US and Europe and low interest rates are seen as perfect for credit. But analysts are concerned that many of the imbalances of the US’s 1990s boom are still apparent: many balance sheets remain

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