Michael Anderson News
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State Street Corp., manager of the second-biggest exchange-traded fund that invests in junk bonds, is beating larger rival BlackRock Inc. by buying riskier debt that’s outperforming the safest by the most since 2009.
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Apple Inc. has spent at least $32 million in one patent-infringement dispute with Google Inc.’s Motorola Mobility unit -- one among many legal fights on four continents.
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Jefferies Group Inc. , the New York- based securities firm that specializes in mid-sized companies, named Michael Anderson a managing director in its global equity capital markets group.
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Junk bonds of health-care providers are beating the high-yield market after underperforming in the first five months of the year, as a U.S. Supreme Court ruling boosts investors’ optimism for the industry.
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Leveraged loans are generating their biggest losses of the year as investors pull back from even the safest debt in a company’s capital structure on concern that Europe’s financial crisis will spark a global slowdown that diminishes the creditworthiness of borrowers.
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Cedar Fair Entertainment Co. , the operator of amusement parks, is marketing debt as investors pull the most money out of mutual funds specializing in high-yield, high-risk debt in five years.
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The riskiest part of the global corporate bond market is driving relative yields on company debt to the widest levels in more than three months as speculation mounts that the economic recovery is faltering.
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Private-equity owned companies are refinancing six times as much of their leveraged loans this month than they did in all of January, using the longest rally in more than a year to cut costs.
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Investors bought more than twice as much of leveraged loans than junk bonds in the first half of May as companies tapped banks for buyouts.
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Junk bonds are beating stocks by the most since September, with speculative-grade debt building on last month’s gains while losses deepen in equities, as investors seek a haven amid signs the economic recovery is slowing.
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