Corporate bond struggle recalls post-Sept 11 weeks

Newswire

By Jonathan Stempel NEW YORK, July 31 (Reuters) - The $3.9 trillion U.S. corporate bond market is crawling through a fear-driven quagmire reminiscent of the weeks after Sept. 11, and some investors don't expect any recovery this year. Normally considered a safe haven from equity volatility, and with higher yields than safer U.S. Treasuries, the bonds suffered an abysmal July following WorldCom Inc.'s $3.85 billion accounting bombshell and eventual bankruptcy. Bond sales have slowed to ...

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