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With the financial crisis seemingly ebbing, many investors are moving out of Treasurys into riskier and potentially better-performing areas, including high-yield bonds and stocks.
July 9 (Bloomberg) -- CIT Group Inc. , the century-old lender to 950,000 businesses, is trading in the bond market as if it may fail. Since becoming a bank in December to qualify for federal help, CIT has lost all three of its investment-grade ratings.
NEW YORK----Fitch Ratings has downgraded two classes of notes issued by Bleecker Structured Asset Funding, Ltd. as follows:
July 9 (Bloomberg) -- The cost of protecting U.S. corporate bonds from default fell for the first time in a week, according to traders of credit-default swaps.
Gold rose in Asia and London and saw an almost 1% gain coming into New York before it fell back to almost unchanged at $910 by about 10AM EST, but it then rallied back higher in the last three and a half hours of trade and ended near its new session high of $918.15 with a gain of 0.75%. Silver also saw decent gains in Asia and London before it fell to see an 8 cent loss at $12.76 by midmorning ...
By Karen Brettell
July 9 (Bloomberg) -- The Fort Bend Independent School District in Texas leads long-term municipal bond sales today, becoming the latest school system in the state to borrow without backing from the largest U.S. endowment for public education.
By Karen Brettell
The Community Reinvestment Fund set itself a simple package of goals in this year of financial duress – simple but pivotal. “We’re going to survive, we’re going to stabilize and we’re going to become sustainable,” according to CEO Frank Altman.
July 9 (Bloomberg) -- U.S. corporate bonds still have “value,” especially securities rated BBB, because yields relative to benchmark rates remain historically wide, said Kathleen Gaffney , co-manager of the Loomis Sayles Bond Fund in Boston.
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