Stephen Stanley, chief economist at Pierpont Securities LLC, has derided the Federal Reserve for downplaying improvement in the U.S. economy. Yet his 2.6 percent forecast for growth this year is below the midpoint in the central bank’s projection of 2.4 percent to 2.9 percent.
Lincoln National Corp. , the insurer that took a U.S. bailout, plans to sell notes as Moody’s Investors Service said it expects relative yields on corporate bonds to fall as corporate earnings grow and defaults decline.
The 23 people who penned the missive to Federal Reserve Chairman Ben S. Bernanke this week telling him to arrest his expansion of monetary stimulus have something in common: They’ve never been in his position.
Companies facing the biggest pension deficit since at least 1994 are selling bonds at the fastest pace in more than seven years to plug the hole, betting that future returns will exceed their borrowing costs.