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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (9478)10/26/1998 5:04:00 PM
From: yard_man  Read Replies (1) of 86076
 
From the Economist article MMV posted:

>>Thus, spreads on high-risk American corporate (“junk”) bonds nearly doubled between January and the eve of Mr
Greenspan's surprise cut. New issues of junk slowed to a trickle: $4 billion in August and September combined,
compared with a monthly average of $15 billion earlier in the year. Several new issues were postponed. Similarly,
spreads on asset-backed bonds (such as mortgage-backed securities) have tripled since the end of August.
Credit-card companies, and “sub-prime” lenders, which rely on selling bundles of old loans to finance their lending,
especially to the less creditworthy, have found few takers. <<

This might be a very good short. Many of these type finance corps stock have already hit the wall (without much of a bounce).

biz.yahoo.com
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