Download our new Real Estate Supplement here.
Holdings of U.S. exchange-traded notes have climbed by about a third this year while sales of unlisted structured securities stagnate, as investors prefer their greater liquidity and access to dividends. Issuance of structured notes fell to $28.5 billion this year through Sept. 20, down less than 1 percent from the same period of 2012, according [...]
The Ohio Police & Fire Pension Fund is boosting its holdings of high-yield debt, including floating-rate bank loans, while reducing equities to limit volatility. Click HERE for more.
by Andrew Berens, Grace Guo, Bloomberg Industries AbbVie’s supplemental Biologics License Application (sBLA) to expand Humira’s existing approval for ankylosing spondylitis to include the treatment of non-radiographic axial spondyloarthritis has an estimated PDUFA date of Sept. 29. Read more>>>
Sales of structured notes tied to interest rate moves are surpassing those linked to credit risk for the first time in almost two years as investors seek to profit from rising rates. Deutsche Bank AG and DZ Bank AG led sales of $4.74 billion of rate-tied notes in the third quarter through Sept. 18, exceeding [...]
Central European Media Enterprises may skip a chance to refinance 273 million euros ($365 million) of 11.625 percent bonds due September 2016 that lost make-whole protection this week after a ratings cut by Moody’s. Click HERE for more.
Richard Schimel, co-founder of Diamondback Capital Management LLC, will start a new hedge-fund firm in the fourth quarter to trade global stocks, according to a letter sent to potential investors. Click here to continue reading.
By Sam Fazeli, Bloomberg Industries Boehringer Ingelheim may join Novartis in challenging GlaxoSmithKline’s dominance in the treatment of respiratory diseases with new safety data on its Respimat device. While the data may not stave off generic competition for one of its top-selling drugs, Spiriva, it may allow Boehringer to develop a competitive combination therapy. [...]
U.S. investors are increasingly buying structured notes tied to European stocks in preference to domestic equities as the area emerges from recession and the Federal Reserve prepares to slow asset purchases. Sales of U.S. notes linked to the Euro Stoxx 50 Index climbed to $379.2 million in August and total $2.01 billion for the year, [...]
The U.S. Federal Reserve’s probable policy shift at the upcoming Sept. 17-18 meeting to begin paring back the pace of its asset purchase program poses a challenge to investor allocation decisions. The Fed’s low-interest rate policy has achieved some success in boosting risk-taking among investors. Some measures of U.S. equities valuations, Tobin’s ‘Q’ for example, have moved back to fair value after recording severely undervalued readings during the Great Recession. Click here [...]