Global credit woes (FT.com)
FT.com - Global credit markets are jittery. Like motorists driving past a crash, bond investors are taking a ghoulish interest in the wreckage of two Bear Stearns (NYSE:BSC) hedge funds hit by US subprime housing loans, and refusing to buy into the risky new deals on offer from investment banks. Without a more substantial external shock, however, this is unlikely to turn into a systemic meltdown in the credit markets.
More: continued here