For the second day in a row, the Dow again avoided closing below the November lows of 7552.27
Is the corporate debt market unfreezing?
Remember Pisani's Law: when stock traders start talking about something besides the stock market, pay attention.
It was noted, late in the day, that Roche launched a $16 billion, six-part debt offering. This is the largest single deal ever in the U.S. corporate bond market. It is going to help fund the buyout of Genentech.
If a deal can be made. They have offered $86.50 for the company; minority shareholders want $112 a share.
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