Bonds
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.
`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.
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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