GM casts shadow over junk, corporate bond markets

Newswire

By Dena Aubin NEW YORK, March 17 (Reuters) - The threat of a downgrade of General Motors Corp. to junk status has derailed a rally in the $4.7 trillion U.S. corporate bond market, and the pressure could last for weeks, market experts said. A healthy economy may limit long-term damage to most corporate bonds, but GM's troubles could raise borrowing costs for a host of auto-related companies and possibly dampen overall demand for riskier debt, strategists said. "The game is up as far as ...

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