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Bonds


Americas

Treasuries Rise Most in March as Fed Keeps Pledge to Keep Target Rate Low Treasuries rose the most this month as the Federal Reserve cited evidence that the economic recovery will be slow and reiterated that it will keep interest rates low for an “extended” period of time.

Convertible Bonds Beat Stocks as Ciena Leads Sales Rebound: Credit Markets Returns on convertible bonds, notes that can be turned into stock, are accelerating, prompting issuance to double this year as credit and equity markets rally.

Federal Home Loan Bank Sues Nine Dealers Over Mortgage-Backed Securities The Federal Home Loan Bank of San Francisco said it sued nine securities dealers in an effort to rescind purchases of $19.1 billion in private-label residential mortgage-backed securities.

Boston Scientific Swaps Fall From One-Year High as S&P Reports Outlook Credit-default swaps protecting against a default by Boston Scientific Corp. fell from the highest in a year as Standard & Poor’s said the company’s decision to halt sales of cardiac defibrillators won’t affect its credit-rating outlook.

Europe

`Stricter' OTC Derivatives Bill Seen After Dodd Plan, Morgan Stanley Says Derivatives legislation expected from U.S. Senators Jack Reed and Judd Gregg will be “stricter” than the plan released yesterday by Banking Committee Chairman Christopher Dodd, according to Morgan Stanley.

Greek Debt-Downgrade Threat Lowered by S&P as EU Paves Way for Deficit Aid Greece had the threat of a credit- rating cut lowered by Standard & Poor’s and European finance ministers adopted a bailout framework for the debt-stricken nation, spurring a rally in Greek bonds and the euro.

Gazprom Venture Borrows $5.1 Billion for Pipeline From Russia to Germany Nord Stream AG, the OAO Gazprom-led venture building a gas pipeline from Russia to Germany under the Baltic Sea, raised 3.9 billion euros ($5.1 billion) for the project from 26 banks.

Greek Bonds Jump as S&P Lowers Downgrade Threat; German Bunds Climb on Fed Greek bonds jumped after Standard & Poor’s said it’s no longer planning an imminent downgrade of the country’s debt because of the government’s efforts to narrow its budget deficit.

Asia

South Korea Central Bank Successor Kim May Tighten Links With Government Kim Choong-soo, picked by South Korea’s government yesterday to take the central bank’s helm next month, may bolster coordination with political leaders resisting any move to raise interest rates.


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