PMI Group Inc., the mortgage insurer whose main unit was seized by regulators last month, won’t default on more than $700 million in bonds if a judge puts PMI back in charge, Chief Executive Officer L. Stephen Smith said.
Stephen Smith, portfolio manager at Brandywine Global Investment Management LLC, discusses the policies of Federal Reserve Chairman Ben S. Bernanke. Smith talks with Bloomberg's Pimm Fox and Vonnie Quinn on Bloomberg Radio's "Taking Stock."
Kevin Rudd was sworn in as Australian prime minister for his second stint in the post, tasked with reviving the ruling Labor party’s prospects in the next election as it trails the opposition in opinion polls.
Spanish and Italian bonds are more attractive than U.S., German and French securities with European leaders likely to prevent the region’s sovereign-debt crisis from worsening, according to Brandywine Global Investment Management’s Stephen Smith.
Australia asked Israel to withdraw a diplomat from Canberra because of the “involvement of state intelligence” in fake Australian passports linked to the killing of a senior Hamas official, Foreign Minister Stephen Smith said.