Bricks and Mortar Is Having a Bad Year in the Bond Market
Cornerstone leads selloff in bonds of building material suppliers
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Welcome to The Brink. It’s Dorothy Ma and Reshmi Basu, reporters in New York, where the rising cost of living is hitting the makers of home building materials. We also have news on a landmark case over the legality of cooperation agreements among a majority group of bondholders in Selecta. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Americans hampered by the cost of living are no longer splashing out on home renovation. That’s bad news for companies that cater to building projects, from distributors of windows and roofing to suppliers of stone veneer.