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The article discusses the impact of the 2008-2009 global financial crisis on equities, corporate bonds, and real estate in the U.S. It outlines the losses suffered by several financial institutions and the decline in credit availability has resulted to the forced liquidations and bid-ask spreads. However, it also mentions the effort of several investors to proceed in the world of macro and managed futures to bring back positive returns.

The article reports on high grade corporate bond deals that were launched in the U.S. market. Walt Disney, the U.S. unit of Irish building products company CRH and DaimlerChrysler, issued $1 billion-plus deals while financial institutions such as Merrill Lynch, World Savings Bank, NAB, Capital One Financial, CIT Group and American General Finance dominated the deal volumes. DCX issued an aggressively priced $1.5 billion five year fixed rate deal led by ABN and Deutsche Bank.

The article reports that several bond issuers have paid premiums for access to the U.S. high grade corporate market. A $500 million three year non-call one tranche was offered by United Technologies Corp. Several financial institutions offered floating rate notes due to strong bid from investors. $1 billion worth of three year non-call one notes at 12 basis points over three month Libor was sold by Hewlett-Packard.

The article reports on the need for credit rating agencies in the U.S. to adopt systems that allow a direct comparison of municipal and corporate bonds as suggested by the Government Finance Officers Association. They disclosed that municipal bonds should be placed on a rating scale that allows a direct comparison between the two kinds of debt. The agencies should ensure that the ratings of the two bonds should retain qualitative distinctions that are valuable to issuers and investors.