Just acquired a 1987 Raleigh Technium with 6061 aluminum main tubes bonded to steel lugs and steel rear triangle.
Here is what is happening at the bond between the downtube and headlug:
Is this the indication of a more serious problem? Or are those bands cosmetic covers over the joints? There doesn't appear to be cracking or fracturing anywhere else along that joint, or at any other joint on the bike.