(Reuters) - Losses at a hedge fund run by top mortgage bond dealer Bear Stearns Cos. have captivated the industry as investors prepare for possible sales of low-rated assets from the fund. Bear Stearns last week sold about $4 billion of the fund's best bonds to cover losses, and today is meeting with creditors and private equity firm Blackstone Group to prevent its collapse, according to people familiar with the situation.
A government report on Tuesday showed U.S. housing starts set an annual pace of 1.474 million units in May, off from the 1.506 million rate in April. The National Association of Home Builders on Monday said its confidence index is at its lowest level in 16 years.
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A government report on Tuesday showed U.S. housing starts set an annual pace of 1.474 million units in May, off from the 1.506 million rate in April. The National Association of Home Builders on Monday said its confidence index is at its lowest level in 16 years.
Read more at Reuters.com Bonds News
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