US bonds come alive after GM loosens grip on GMAC
The international bond market crossed a watershed this week when General Motors announced it would sell a controlling stake in its captive finance company, GMAC.
By cutting the rope that ties GMAC to the sinking car company, Rick Wagoner, GM's CEO, has given the finance arm its best chance of returning to the investment grade world, even if that means abandoning GM to an uncertain fate.
GMAC's 2031 global bonds
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