US CORP BONDS-Tone firms on signs of credit thaw

Newswire

NEW YORK, Oct 31 (Reuters) - U.S. high-grade corporate bond spreads were unchanged to tighter on Friday as a smattering of bargain-hunting and signs of financial system healing gave the market a firm tone, traders said. Among the positive signals, the cost of overnight borrowing eased in the interbank lending market in the wake of a Federal Reserve interest rate cut on Wednesday, indicating that money was becoming cheap for banks to obtain. In addition, JPMorgan Chase & Co said it is ...

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