Bonds

Data4's steps to raise funding comes after Britain's Vantage Data Centers last month completed the first-ever asset-backed securitization deal for data centers in Europe.

This is Stream Innovations Inc.'s inaugural 144a securitization, which has ratings of A-, BBB- and BB- to the A, B and C notes, partially based on respective credit enhancement levels of 20.50%, 14.45% and 8.50% respectively.

So far this year, his team has overseen about $78.4 billion of high-grade bond issuance, making BofA the third-biggest underwriter in the market.

Professionals also must grapple with the issue of wanting liquidity on assets in an era of low production.

Yields on two-year notes rose about 5 basis points to 4.88%, shifting the US yield curve to the flattest in more than a month.

Global yields rose on Thursday as markets around the world adjusted to central banks keeping interest rates higher for longer, with the US two-year yield briefly exceeding 5% for the first time since November.

Traders ceased fully pricing in a Fed rate cut before September after the March employment report revealed that US payrolls expanded by the most in nearly a year.

He called the January and February inflation readings "a little bit concerning," and said he needs to see more progress on prices to gain confidence that they're moving toward the Fed's 2% target.

JPMorgan Chase & Co.'s latest client survey showed that outright short positions in US Treasuries rose to the most since the start of the year in the week leading up to April 1.

Treasuries fell across the curve after data showed manufacturing unexpectedly expanded for the first time since September 2022 — while input costs climbed.