Corporate bond spreads continue to widen as new supply hangs heavy and disasters have insurers craving cash, Citicorp Securities Markets Inc.'s head corporate trader said yesterday.

Northern States Power Corp.'s $100 million offering, which was priced to yield a spread of 45 basis points over comparable Treasuries yesterday, would have come at "35 or tighter" just a month ago, Philip Kazlowski, Citicorp's head trader said.

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