For almost a year Wan-Chong Kung avoided U.S. government debt insured against inflation as consumer prices stagnated. Now, the bond-fund manager at Nuveen Asset Management whose inflation-indexed fund has beaten 95 percent of its peers the last three years, is loading up on Treasury Inflation-Protected Securities.
The U.S. ended a corruption probe into oil-and-gas explorer Kosmos Energy LLC without filing charges after the company was reported by a partner for possible bribery related to the development of Ghana’s offshore Jubilee field, according to a May 12 U.S. Justice Department letter obtained by Bloomberg News.
Rory McIlroy became the youngest major champion since Tiger Woods in 1997 with an eight-stroke win at the U.S. Open, where he set 12 records, including the lowest score in the golf tournament’s 111-year history.
Occidental Petroleum Corp. and Bank of America Corp. led $15.5 billion of corporate bond sales in the U.S. this week, pushing monthly issuance past the December 2009 total amid rising confidence in the economic recovery.
Treasuries rose for a second day, pushing yields on 2- and 10-year notes to three-week lows, as speculation that Greece will be unable to avoid a default and declines in stocks boosted demand for refuge assets.