Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: per strandberg who wrote (85722)	11/20/2000 3:11:10 PM
From: Ahda	Respond to of 132070

There are two of us and a few banks to boot that seem to have problems grasping that post. Monday November 20, 11:49 am Eastern Time US Corp Bonds-Weaker as credit, supply concerns loom By Nancy Leinfuss NEW YORK, Nov 20 (Reuters) - The U.S. corporate bond market opened weaker across the board as concerns over credit quality, upcoming supply and stock weakness weighed on the market, traders said. Spreads to U.S. Treasuries were quoted two basis points wider across most sectors while bank and finance names, as well as telecom credits, weakened by more, traders said. ``The market opened softer across the board,'' said one high grade trader. ``Everyone seems to be real cautious, there's not much trading going on.'' Last week, concerns over problem loans at top U.S. banks dragged spreads on bank and finance sector issues out by some 15-25 basis points, while the bonds of First Union Corp. (NYSE:FTU - news), Bank of America (NYSE:BAC - news) and Morgan Stanley Dean Witter (NYSE:MWD - news) -- which participated in a $1.7 billion loan to financially troubled Sunbeam Corp. -- moved out by more, traders said. Bank of America 10-year paper was quoted at a 214 basis points bid, 207 offer. Its notes due 2005 were quoted at 165 basis points bid, 162 offer. First Union's 10-year notes were seen trading at a bid spread of 245 basis points, 222 offer, while Morgan Stanley's 10-year issue traded at a bid spread of 195 basis points bid, 180 offer, traders said. Problem loans have been on the rise at U.S. banks after a string of U.S. interest rate increases slowed the domestic economy and put a squeeze on some large corporate borrowers.