After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business.
Scores of trades in bonds Puerto Rico issued this month have been canceled by dealers, including some that were under the $100,000 minimum transaction level stipulated in deal documents, data compiled by Bloomberg show.
Puerto Rico’s record $3.5 billion debt sale was structured to keep out individual investors with less than $100,000 to spend. Those buyers have found a way in, lured by the biggest rally in high-yield municipal bonds in five years.
The biggest rally in high-yield municipal debt in five years is luring individuals to Puerto Rico’s $3.5 billion deal, even as the commonwealth seeks to keep them away because the securities are so risky.
A novel colon cancer test from Exact Sciences Corp. and the Mayo Clinic using the DNA of specimens that patients collect at home detects more tumors than methods focusing on blood in the stool, a study found.
Wichita State’s reward for becoming the first team in 23 years to enter the men’s college basketball tournament undefeated is potentially the toughest road to the Final Four of the four No. 1 regional seeds.