US Corp Bonds-J.P. Morgan, Bank One spreads narrow


NEW YORK, Jan 15 (Reuters) - Spreads on the corporate debt of Bank One Corp. and J.P. Morgan Chase narrowed Thursday morning, on hopes that their $58 billion merger, announced late on Wednesday, will result in lower costs and higher ratings. "This is one of the better mergers. It makes strategic sense, the pricing is right, and it can be beneficial to both companies," said John Otis, a fixed income analyst covering banks at Deutsche Bank Securities in New York. J.P. Morgan's acquisition ...

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