Until about four months ago, JKMilne Asset Management invested at least half the money in its global fund outside the U.S. No more. With Europe’s debt crisis intensifying, the Fort Myers, Florida-based firm with $1.8 billion under management has all its money in dollars.
Standard & Poor’s is giving a higher rating to securities backed by subprime home loans, the same type of investments that led to the worst financial crisis since the Great Depression, than it assigns the U.S. government.
Investors are buying longer-maturity corporate bonds at the fastest pace in more than three months, speculating that declining inflation expectations will keep the Federal Reserve from raising interest rates.
Joseph Apuzzo, the former chief financial officer of Westport, Connecticut-based Terex Corp., must defend a U.S. Securities and Exchange Commission lawsuit claiming he aided an accounting fraud, an appeals court said.
The first decline in U.S. consumer prices in more than a year is driving investors to the longest- maturity bonds in a bet tame inflation will keep the Federal Reserve from raising interest rates this year.