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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (26605)	4/8/2008 10:38:08 PM
From: Robohogs	Respond to of 52153

This is no reason for a massive rally in Citigroup though except as a sentiment indicator. I have been saying for a few weeks to colleagues that I think the bottom is in in loan prices. HY bonds may still have further to go, but more importantly, I cannot see IG spreads going to the wides again. At the high spread levels, they were disconnected from reality. HY spreads have not gotten near historical wides yet, on the other hand, while the bank loans were at all time high spreads. Jon