Hurt by Bond Plunge, Salomon Foresees a Record Loss
Stung by losses in its stock and bond holdings, Salomon Inc. said yesterday that it expected to post a net loss of about $200 million for the second quarter. The after-tax loss would be the largest ever reported by Salomon, whose investment banking and securities unit, Salomon Brothers, was rocked by the plunge in bond prices earlier this year. Salomon lost $130 million in the fourth quarter of 1984 -- up to now, the worst quarterly hit it has ever taken.
