Investments

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.

The notice is a precursor to a reset deal, a type of refinancing that can extend the life of CLOs for years.

Wednesday's announcement will likely also see debt managers hoist regular auction sizes for securities across the yield curve — with potential exceptions or smaller bumps for notes less in demand.

The company will use some of its fiber-optic network and associated customer contracts in the Dallas area to back a bond issue that will refinance some of the company's existing debt and finance a network expansion.

One asset manager recalled the prelude to the global financial crisis and the 2001 dot-com bust, when companies that loaded up on debt when costs were low got hit with a steep bill years later.

The U.K. manager's assets have declined from peak of nearly $20 billion before a spate of 2020 losses.

The bond market's reenergized bulls may want to dial down their excitement, because their fortunes hinge on whether an abstract, almost elusive number, is as low as they assume.

U.S. leveraged loans are delivering some of the best returns in the fixed-income market this year, indicating that investors think any impending downturn could be slow to come and not particularly severe.

A decade after its historic bankruptcy, the Motor City is tapping the municipal bond market for $100 million. The funds will mostly go toward programs to help revive struggling neighborhoods.

The Securities and Exchange Commission and the Federal Reserve have questioned prime brokers about the basis trade as well.