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Banks sold $548.3 million of U.S. structured notes in May that offer protection from rising interest rates, the most in almost two years, on concerns that borrowing costs may rise as the Federal Reserve prepares to reduce unprecedented stimulus measures. The most popular such securities were those that eventually yield a coupon that floats above the London interbank [...]
Losses on junk-bond ETFs are outpacing the broader U.S. high-yield market by the most in three years, signaling a deepening slump for debt that traded at record-high prices less than a month ago. Click Here for More
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Compiled by Sam Fazeli, Director Bloomberg Industries Europe and Asthika Goonewardene, Pharmaceuticals Equity Research Analyst AstraZeneca’s bid to buy Omthera is driven by Epanova, an experimental treatment for patients with high levels of triglycerides that could be combined with the large pharma company’s best-selling medicine Crestor in an effort to stave off generic competition. [...]
HSBC Holdings Plc is adjusting its strategy to reduce the chance of future compliance failures following major U.S. regulatory and law enforcement investigations of the London-based bank, according to Chairman Douglas Flint. Click here to continue reading.
Sweden’s financial regulator rejected government and central bank calls to raise risk weights on mortgage assets above the 15 percent already agreed on in the latest clash between policy makers and the watchdog. Click here to continue reading.
Our page 1 this week: Investors looking to boost returns are choosing notes tied to single stocks rather than to indexes. Inside: Issuance of credit-linked notes linked to South Korean government debt jumps to a nine-month high, and sales of yen notes betting on falling rates dry up.
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Compiled by Andrew Berens, MD, Senior Healthcare Analyst, Grace Guo, Bloomberg Industries and Elizabeth Krutoholow Raptor may secure a second regulatory nod this week for its drug Procysbi, which treats a rare disease known as for nephropathic cystinosis. The company won FDA approval for the medicine for the treatment of the rare metabolism [...]