February 18, 2009 at 00:01 AM EST
Ten Aspects of Our Current Market Troubles
1) One of the unwritten rules of the corporate bond market is avoid the sector that has been the biggest issuer lately. Underwriting and credit quality get sloppy in any sector that issues a lot of debt. It would be a salutary warning for telecom bonds in 2000 and financials in the mid-2000s. Even though [...]
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