US Corp Bonds-Softer; Market awaits GM bond sale, Fed

Newswire

By Nancy Leinfuss NEW YORK, June 24 (Reuters) - U.S. corporate bond yield spreads ended weaker on Tuesday as the market awaited a $13 billion bond sale from General Motors and its finance unit, and some investors took profits after a prolonged rally in the corporate debt market. "Things are pretty quiet now. We opened up weaker but by afternoon erased about half of those losses," said one trader. Spreads, the extra yield that corporate bonds pay over Treasuries, widened by about 0.05 ...

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