US Corp bonds - Spreads wider on profit-taking

Newswire

By Dena Aubin NEW YORK, June 24 (Reuters) - U.S. corporate bond yield spreads widened on Tuesday as the market braced for a $13 billion bond sale from General Motors Corp., while some investors cashed in after a strong rally in corporate debt. "There's some supply pressure from General Motors and profit-taking similar to what we've seen in the stock market the last couple of days," said one corporate bond trader. Spreads, the extra yields that corporate bonds pay over Treasuries, ...

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