Bonds of Molycorp Inc., the owner of the largest rare-earth deposit outside of China, rose to the highest level in more than a month after a peer sold shares and its chief executive officer indicated raising equity was an option to combat dwindling cash.
Ecuador, one of only eight countries to adopt the U.S. dollar as its official currency, swapped gold with Goldman Sachs Group Inc. for liquid assets in a sign the nation is short on cash, according to Loomis Sayles & Co.
The biggest transformation in the history of Europe’s $11.4 trillion corporate bond market has kicked off with dealers and investors asked to adopt changes even stricter than those that prompted upheaval on Wall Street more than a decade ago.
During tricky times in the bond market, the team at Loomis Sayles, renowned for their mastery of the unconventional, is a top-notch tour guide. The $19 billion Loomis Sayles Bond Fund and $13 billion Loomis Sayles Strategic Income operate with long leashes that allow them to sniff around just about anywhere: Junk bonds, foreign issues, convertible bonds, preferreds and dividend-paying stocks can all be added to the portfolios to augment the conventional stuff.