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Blackstone Group to issue its first bonds
The Blackstone Group LP plans to sell bonds for the first time, but offered no details on how much or when.
New rules would give muni issuers more control over distribution
The Municipal Securities Rulemaking Board today proposed new rules aimed at ensuring that municipal bond underwriters honor issuers' wishes to preserve retail investors' access to new bond issues < http://www.msrb.org/msrb1/whatsnew/2009-47.asp>.
Worries about influx of supply pressures Treasurys
Prices of government bonds fell today ahead of another round of Treasury auctions as traders worried that the latest issues might be met with weak demand.
Catastrophe bonds poised for comeback this year, Guy Carpenter & Co. says
Though fewer catastrophe bonds were issued during the first half of 2009, investors may see more of these issuances in the second half of the year as the financial markets stabilize, according to a report from Guy Carpenter & Co. LLC and GC Securities, both of New York.
Muni analysts want more issuer disclosure
The recently issued SEC proposal to expand issuer disclosure in the $2.7 trillion municipal-securities market doesn't go far enough, say muni-bond analysts and the mutual fund industry.
All-bond allocation unwise despite equity jitters, says Ibbotson
Despite the superior performance of fixed-income assets recently, an all-bond asset allocation is unlikely to deliver investors the returns they need in the future, according to analysis released by Ibbotson Associates, the research division of Morningstar Inc. of Chicago.
FundQuest adds alternatives to SMA platform
FundQuest Inc. of Boston has expanded the offerings on its managed-accounts platform to include select alternative strategies.
Municipal bonds thrive despite states’ deep economic woes
Although state and local governments across the country face staggering budget deficits, their struggles are having little effect on municipal-bond prices.
‘Angels’ fall as bond issuers are downgraded to junk
Last month, 15 bond issuers were downgraded to speculative grade (BB+ and lower) from investment grade (BBB- and higher), the third-highest monthly tally of “fallen angels” since Standard & Poor's Financial Services LLC began keeping track in 1987, according to a report today from the New York-based rating agency.
Two new munis and a swaps recap
Through the passage of the American Recovery and Reinvestment Act, the government has created Build America Bonds.
MSRB readies new muni disclosure system
The Municipal Securities Rulemaking Board's revamped municipal-bond disclosure system, set to go live next month, won't be quite the panacea for disclosure that regulators hope, according to some observers.
Battered equity boutiques broaden focus to bonds
Some well-known equity boutiques have begun offering bond strategies this year, diversifying their portfolios after the market collapse focused attention on the ability of money management companies to cope with severe downturns.
Treasury guarantees carry more risks than benefits
The real and potential risks of federalizing municipal-bond insurance far outweigh any potential benefits.
Federal backing could mean more buyers and lower interest rates
The federal government is the only potential guarantor whose backing would significantly lower local borrowing costs.
Bond market’s rally warrants skepticism
Investors have responded enthusiastically in recent months to government stimulus plans and signs of renewed economic activity, triggering a resounding risk rally.
Goldman Sachs launches fund that invests in corporate-credit asset classes
Goldman Sachs Asset Management, a unit of The Goldman Sachs Group Inc., has launched a fund designed to help investors take advantage of the fast-changing credit markets.
Junk bond funds’ run is expected to hit wall soon
The stellar returns that junk bond funds are generating are unsustainable and will come to an end, fund managers and financial advisers agree, but they disagree on when that will be.
Falling dollar, surging stocks weigh on Treasurys
Long-term bond yields climbed sharply on today as improving sentiment on the economy sapped demand for government debt.
Long-term yields fall again as Treasurys recover
Long-term bond yields fell again on today as investors returned to the Treasury market for the second day running.
Fortune 500 pension plans shift $1B to bonds
Many pension managers are allotting more assets to long-term investment-grade corporate bonds, reported Standish Mellon Asset Management Co. LLC of Boston today.
