James Barnes News
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Corporate bond offerings in the U.S. fell short of the 2011 average for the fourth straight week as European leaders raced to contain the region’s sovereign debt crisis.
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Continental Airlines Inc., poised to merge with United Airlines to become the world’s biggest carrier, is marketing five-year notes as debt sales surpass $10 billion for the third day in a month.
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Corporate bond issuance surged to nearly $8 billion yesterday as yields on investment-grade debt fell to the least since April 2004.
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Returns on inflation-linked bonds fell below those of government debt by the most in almost three years as the world economic slump makes it less likely that easy monetary policies will trigger spiraling consumer prices.
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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.
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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.
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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.
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Investors who snapped up the biggest supply of long-maturity bonds since March last month are being punished as interest rates climb on diminished concerns the U.S. will relapse into recession.
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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.
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The biggest oil spill in U.S. history has wiped about $19 billion off the value of energy company bonds as investors bet increasing regulation will curb revenue and profits.
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