So this is what a credit crunch looks like?

Posted by: Michael Mandel on September 04

From Bloomberg (August 31):

U.S. corporate bond sales soared to $92.5 billion this month, setting an August record, rebounding from the slowest month in two years….San Antonio-based AT&T raised $2 billion from its offering of 30-year bonds at a yield 16 basis points higher than the trading level of similar debt sold last year…falling Treasury yields kept companies’ borrowing costs below their 10-year average.

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Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

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