90 at 9: GM nearly bankrupt; US bond yields rising
28th May 09, 9:09am
Bernard Hickey details the key news in 90 seconds at 9am in association with ASB, including news that General Motors is likely to be bankrupt within days after bondholders rejected a debt for equity swap. The Dow fell 2% on the GM bankruptcy prospects, but also on a sharp rise in Treasury bond yields as investors fear heavy government bond issuance. Meanwhile ANZ is about to buy Royal Bank of Scotland's Asian assets as it raised A$2.5 billion from a share issue.