Handful of deals emerge from battered US market
Traces of living tissue were found in the corpse of the US corporate bond market this week and — no doubt through sheer will power and adrenalin — the first deals for over a week were launched. But the spreads at which borrowers such as Anheuser Busche were obliged to offer their debt underlined how much the market has been injured by recent events. What do the last four weeks of the year hold?
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