Bonds articles

Fitch to Rate Anchorage Capital CLO 3, Ltd./LLC; Presale Issue

NEW YORK–(BUSINESS WIRE)– Fitch Ratings expects to assign the following ratings to Anchorage Capital CLO 3, Ltd./LLC (Anchorage 3): –$300,000,000 class A-1 senior secured floating rate notes, ‘AAAsf’; Outlook Stable. TRANSACTION SUMMARY Anchorage Capital CLO 3, Ltd. and Anchorage Capital CLO 3, LLC (together, Anchorage 3) comprise an arbitrage cash flow collateralized loan obligation (CLO)

Mirae Shuns Mongolian Mining Junk Debt as Coal Slump Drains Cash

Mirae Asset Management Co. is avoiding junk bonds of Mongolian Mining Corp. (975) in the absence of a rebound in coal prices, as Moody’s Investors Service says any so-called distressed exchange would add to downgrade risks. The company’s 8.875 percent notes due March 2017 have declined 11 percent this year, bringing losses to 17 percent

Treasuries Fall a Second Day Amid Focus on Winter’s Data

Treasuries dropped for a second day amid bets that weaker-than-forecast economic data this week resulted from harsh winter weather and won’t keep the Federal Reserve from reducing bond purchases further. Five-year notes led the decline even as a gauge of business in the Philadelphia region unexpectedly fell and weekly jobless-benefit claims were higher than forecast.

Treasury 30-Year TIPS Auction Attracts Weakest Demand Since 2001

The U.S. sale of $9 billion in 30-year Treasury Inflation Protected Securities drew the weakest demand in a dozen years amid stagnant inflation and as the Federal Reserve reduces its bond purchases. The bid-to-cover ratio, which gauges demand by comparing the amount bid with the amount offered, was 2.34, the lowest level since a sale

Treasuries Set for 3rd Weekly Loss on Outlook for Spring Growth

Treasuries headed for a third weekly loss on speculation the economy will pick up when winter ends. The Bloomberg U.S. Treasury Bond Index (BUSY) has fallen 0.3 percent this month as the Federal Reserve indicated it will continue to cut its bond purchases given the economic outlook. Snow and ice storms have depressed data on

Comcast Raises $2.2 Billion in Bond Sale After Time Warner Deal

Comcast Corp. (CMCSA) raised $2.2 billion in its first bond sale after agreeing to buy Time Warner Cable Inc. for $45.2 billion in stock last week. The biggest U.S. cable operator issued $1.2 billion of 3.6 percent, 10-year notes to yield 93 basis points more than similar-maturity Treasuries and $1 billion of 4.75 percent, 30-year

Germany’s Bonds Little Changed Before Euro-Area Output Report

Germany’s government bonds were little changed before a report economists said will show a measure of euro-area output climbed to the highest level since June 2011 this month. Benchmark 10-year yields were about seven basis points from the lowest level since August. A composite gauge of manufacturing and services output in the euro region, based

Treasuries Advance as Report Signals China Manufacturing Slowed

Treasuries rose, rebounding from yesterday’s biggest decline in a week, after a report indicated manufacturing in China is slowing. Investors sought the relative safety of U.S., Japanese and Australian government debt after a purchasing managers index for China from HSBC Holdings Plc and Markit Economics unexpectedly fell to 48.3 for February from 49.5 last month.

Kuroda Easing Doomed as Yen Seen Missing 120 Level

Strategists’ forecasts signal the Bank of Japan will fail to reach its 2 percent inflation target as yen declines next year won’t be sufficient. Japan’s currency will tumble 11 percent to 115 per dollar in 2015, according to a Bloomberg of analysts, short of the 120 level economists estimate will be needed for consumer prices

Puerto Rico Plans $2.86 Billion Debt Sale for 16 Months of Cash

Puerto Rico is planning to sell about $2.86 billion of general-obligation debt next month, providing the island with sufficient liquidity through June 2015, Government Development Bank officials said. The GDB, which handles the commonwealth’s borrowings, offered details for the tax-exempt general-obligation bond sale in an investor webcast today. The bank had $2.7 billion of cash