Thursday, July 26, 2007

U.S. credit market sells off on pulled financings

(Reuters) - Spooked by pulled financings for the buyouts of DaimlerChrysler AG's Chrysler and Alliance Boots, investors scrambled out of riskier bonds, with the brokerage sector and junk bonds taking the worst hits, traders said.




In the junk bond market, buyers vanished and actively traded bonds went into free fall, with some benchmark auto bonds down five points on the day.


Read more at Reuters.com Business News

No comments: