Bonds
Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades,
Treasury bills are paying no interest while stocks continue to
appreciate -- a divergence in U.S. financial markets that might
be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t
know all about 1938.
SEC to Focus on Derivatives as Insider-Trading Probes Widen, Khuzami Says The U.S. Securities and Exchange
Commission will focus on financial instruments such as
derivatives as it broadens a crackdown on insider trading by
hedge funds, enforcement director Robert Khuzami said.
Hershey Debt Risk Increases on Speculation It Is Preparing Bid for Cadbury The cost to protect against a
default by Hershey Co. approached a record high on speculation
that the maker of Reese’s Peanut Butter Cups will outbid Kraft
Foods Inc. for Cadbury Plc and trigger a debt-rating downgrade.
Lloyds to Issue Up to $13 Billion of Enhanced Capital Notes in Exchange Lloyds Banking Group Plc, the U.K.’s
biggest mortgage lender, will issue about $13 billion of
enhanced capital notes, new bonds designed to boost the bank’s
ability to absorb losses.
British Would-Be Borrowers Resist Approved Bank Credit as Loan Demand Dips A year ago, as Britain’s property
market began to collapse, housebuilder Persimmon Plc owed 960
million pounds ($1.6 billion). Today, Chief Financial Officer
Michael Killoran has slashed that debt by 58 percent.
European Government Bonds Fall as Manufacturing, Services Index Advances European government bonds fell after
a report showed manufacturing and services industries expanded
for a fourth month in November, adding to evidence the region’s
economic recovery is taking hold.
Corporate Bond Risk Declines in Europe, Credit-Default Swap Prices Show The cost of protecting European
corporate bonds from default fell, according to traders of
credit-default swaps.
Reliance Urged to Pay Less Than $12 Billion for LyondellBasell Industries Reliance Industries Ltd.’s bid for
bankrupt chemicals and fuels maker LyondellBasell Industries AF
will be “positive” if India’s largest company pays less than
$12 billion, brokerage CLSA Asia-Pacific Markets said.
Thailand Economy Shrinks 2.8%, Least in Year on Global Recovery, Spending Thailand’s economy contracted less
than estimated last quarter as a nascent global recovery and
government spending began to pull the nation out of its first
recession in a decade.
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