Big Shitpile, the pillars of the financial community, are paying higher
rates to borrow than Big Auto.
Nov. 16 (Bloomberg) -- For the first time in at least a decade, the world's biggest financial institutions are paying more to borrow in the corporate bond market than industrial companies.
Bonds of banks, brokerages and insurance companies yield 1.49 percentage points more than U.S. Treasuries, matching a record high set in October 2002, according to indexes compiled by New York-based Merrill Lynch & Co. The average industrial bond trades at a yield premium of 1.34 percentage points.
