High-Grade Credit Weakens Most Since February on GE Angst
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U.S. investment-grade credit spreads widened by the most in nine months on Tuesday as a drop in General Electric Co. bonds sparked fears of a broader market selloff.
The spread on the Bloomberg Barclays U.S. IG Corporate Bond Index widened to 119 basis points over Treasuries at the close, from 115 basis points on Friday. The 3.5 percent jump in spread was the biggest since Feb. 9, when equities sold off. The bond market was closed on Monday in observance of the Veterans Day U.S. holiday.