US CORP BONDS-GMAC bonds rally; overall spreads narrow

Newswire

NEW YORK, Dec 30 (Reuters) - GMAC bonds rallied on Tuesday after General Motors Corp and its financing affiliate received $6 billion in support from the U.S. Treasury, and GM eased financing rules for vehicle buyers. Overall corporate bonds were little changed to tighter, traders said. The main index of investment-grade credit default swaps tightened by about 7 basis points to about 197 basis points, according to Markit Intraday. The Treasury on Monday agreed to buy $5 billion of senior ...

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