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Source:
Cost of Borrowing Zooms Up for Corporations
JACK HEALY and VIKAS BAJAJ
NYT, January 18, 2009
http://www.nytimes.com/2009/01/19/business/economy/19debt.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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January 19th, 2009 at 12:50 pm
Gosh. Same thing happened to a whole bunch of homeowners, go figure…
January 19th, 2009 at 2:33 pm
Donna,
Some of us just love sarcasm….you rock!
January 20th, 2009 at 12:02 am
It didn’t take long for investment grade borrowing to bounce back. High yield…..not so much.
I’ve got to think that this may produce positive results down the road. With less interest going to lenders then maybe all those smart business people will begin to learn to live without them. I’ve got to think some of the hard lessons learned over this time will be very beneficial to business folks and detrimental to bankers. Yes, I am a dreamer