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The Bank of England completed its 375 billion-pound bond-purchase program yesterday while the Federal Reserve committed on Sept. 14 to spend an additional $40 billion a month in addition to the $2.35 trillion it has pumped in since 2008. The banks’ purchases account for about a quarter of U.K. GDP and 16 percent of U.S. GDP, [...]
New Jersey Governor Chris Christie and lawmakers are pushing for the state’s first general-obligation bond issue for higher education in almost 25 years in a bid to reduce the nation’s biggest exodus of college students. Voters in the 11th-most populous state, devastated by Hurricane Sandy this week, are set to decide Nov. 6 on a $750 million bond for college construction. [...]
Banks are adding additional links to credit risk in the structured notes they sell, seeking to offer higher returns while taking advantage of a record bond rally. UBS AG, Credit Agricole SA and Royal Bank of Scotland Group Plc sold $51.6 million of hybrid notes in the past two months that were tied to both debt [...]
KPS Capital Partners LP plans to seek $3 billion for its next special situations fund, which it will officially begin marketing next year, according to two people familiar with the matter. The new fund will likely come to market in the second quarter, said one of the people. The fund’s predecessor, KPS Special Situations Fund III, originally [...]
American Airlines’ pilot union said there’s a chance a contract agreement may be reached soon and told members it’s urging creditors to appoint new directors for bankrupt parent AMR Corp. Allied Pilots Association advisers are “confident” that some major AMR creditors agree on the need for a new board that would then “appoint management to lead the [...]
Captrust Financial Advisors, the Raleigh, North Carolina-based advisory firm with $75 billion in assets under advisement, is searching for a variety of hedge fund strategies for potential client allocations, including sector-specific long/short equity and those invested in mortgage-backed securities. Captrust is searching for long/short equity funds focused on energy, specifically in infrastructure, and health care, Eric Freedman, chief [...]
