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Wall Street banks are expanding holdings of speculative-grade bonds as prices fall from record highs with investors retreating from ETFs. Click Here For More
The expansion of the number of ratings companies sanctioned to assess securities faced scrutiny May 14 as the U.S. Securities and Exchange Commission met in Washington to discuss Senators Al Franken and Roger Wicker’s plan to create a board to select which firms grade asset-backed bonds, rather than leaving it to the banks that pay [...]
JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world’s largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition. Click here to continue reading.
Aviva Plc, the U.K.’s secondbiggest insurer, and Standard Life Plc, Scotland’s biggest, boosted swaption holdings in 2012 as they sought to hedge exposure to low interest rates, according to annual filings. Click here to continue reading sample article.
Guggenheim Investment Advisory, the $70 billion unit of Guggenheim Partners LLC, is searching for long-short equity and event-driven managers for allocations. Long-short equity is Guggenheim Investment Advisory’s “top risk-adjusted strategy pick for 2013” in an environment of decreasing correlations, according to Charles Stucke, chief investment officer of Guggenheim Investment Advisors and senior managing director of Guggenheim Partners, the New York- [...]
Fed Chairman Ben S. Bernanke indicated he has little appetite for a premature slowing of the central bank’s asset purchase program because of persistent weakness in the U.S. labor market and a general lack of confidence in the self-sustaining nature of the recovery. Click here to continue reading.
Detroit’s bond payments are “crushing” the city by hindering spending on public safety and are among the first liabilities that need to be addressed, emergency financial manager Kevyn Orr said. Click here to continue reading.
Our page 1 this week: Investors on the hunt for yield are buying notes tied to the debt of governments including Malawi, Croatia and the Bahamas. Inside: Australian issuers may be facing more regulatory scrutiny, and Hans-Georg Vetter talks about Zuercher Kantonalbank’s “total expense ratio” for structured products and why the company decided to disclose [...]
Cantor Fitzgerald is expanding its CLO and structured finance team with four hires in New York and London as issuance soars. Florian Bita joins in New York . . . CLICK HERE TO READ MORE
An investigative report on Ally Financial Inc.’s relationship with its bankrupt mortgage arm, Residential Capital LLC, may affect settlement talks between the companies and creditors who blame Ally for $25 billion in potential claims. The court-ordered report, due today, will examine allegations that Ally exerted so much influence over ResCap that the auto lender can be forced to pay [...]
