The reliance on low interest rates to spur activity was exemplified in the weekly MBA mortgage activity indices where a challenged housing market failed to spark either purchase or refinancing activity despite a slide in borrowing cost last week.
Yet Martin Kauer, chief financial officer of Converium, a Swiss reinsurer, thinks an over-reliance on bonds might be dangerous too, if interest rates rise again.
According to one person familiar with the situation, Mukesh has expressed interest in leasing fiber-optic cables from Anil's firm, Reliance Communications Ltd.
But while Immelt has taken major steps toward shoring up the company's balance sheet, including slashing its reliance on short-term commercial paper and reducing risky real estate loans, GE is still vulnerable to rising interest rates and unwelcome scrutiny from regulators.