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U.S. corporate debt market on tear as fiscal cliff looms Add to ...

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The U.S. corporate bond market has been on fire this year. Major companies have been keen to lock in low interest rates, while narrowing spreads on corporate debt have promised better returns for yield-starved fixed-income buyers. But the latest bond issue, a $5-billion (U.S.) refinancing by General Electric Co., should concern market watchers deeply – not because of the quality of the credit, but the reasons behind the industrial giant’s move. (Full disclosure: I own GE shares.)

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