Corporate bond premiums in Australia fell to a six-year low and investors including Western Asset Management Co. predict more narrowing as a global economic recovery withstands bouts of market turmoil.
Eric Garcetti, who began his Los Angeles mayoral term seven months ago, wants to phase out a business tax he says drives away companies and has left the city with a smaller employment base than three decades ago.
Corporate-bond trading volumes are surging to the highest ever to start the year as investors adapt to a new reality of reduced dealer balance sheets by turning to electronically exchanged debt and smaller transactions.
Michael Buchanan knew exactly what to do as markets were rocked in recent weeks on concern turmoil in developing nations from Argentina to China and Turkey would cause the global economic recovery to derail: buy junk bonds.
Standard & Poor’s cut Puerto Rico to junk yesterday, catching up with investors in the $3.7 trillion municipal market who have viewed the island as speculative grade for months. Some commonwealth debt gained today.