Bonds News
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Treasury 30-year bonds dropped for a fifth week, the longest skid in more than two years, as a deal reached by European leaders to tame the region’s debt crisis fueled appetite for higher-yielding assets.
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European leaders’ agreement on a 50 percent haircut on Greek bonds may create an event of default if investors accept it, Fitch Ratings said in a statement today.
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Moody’s Investors Service raised the credit ratings of Ford Motor Co. and General Motors Co. to the cusp of investment grade, citing new U.S. labor contracts that preserve the automakers’ cost positions.
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Italian bonds slumped, pushing two- year yields up the most in six weeks, as an increase in borrowing costs at a debt sale spurred concern European Union leaders haven’t done enough to stem the debt crisis.