>Rakesh Bhandari wrote: > >>>Forstater, Mathew wrote: >>> >>>>Doug - Interesting chart. I'd be interested in your 'reading' of it. >>> >>>The chatter in the market is that the rise in yields reflects >>>expectations of a quick and strong recovery, and a Fed tightening >>>within a year. Who knows if that's what's really happening, but >>>that's what people say. >>> >>>Doug >> >>but this putative optimism does not seem to explain why junk debt >>borrowing costs have risen considerably; the spread over comparable >>Treasurys has risen about 3x since mid 1998. There has been a >>squeeze on the supply of credit of highly leveraged businesses >>and companies--see WSJ 10/29/01, p. C1. > >You're looking backwards, not forwards. In market time, October was >prehistoric. > >Doug
ok but has said spread narrowed since then? rb
