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Advantus Capital Management is looking to add up to $25 million in high-grade credits to bring the corporate allocation of a new $500 million custom mandate to neutral, said Tom Houghton.
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BlueBay Asset Management in London plans to launch a second collateralized debt obligation this year, said Alex Khein, head of structured products.
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Royal Bank of Scotland in London has made Alberto Thomas, previously a director in credit derivative structuring at ABN AMRO in London, head of credit derivative structuring.
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Pacific Investment Management Co. plans to avoid the biggest part of the collateralized debt obligation market this year because of tight spreads and concerns sub-prime mortgages are headed for a fall.
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Sell-side research heads said they will have to continue to redefine their business models, as heightened regulatory scrutiny concerns make the research world less attractive and lucrative offers from hedge funds contribute to a talent drain.
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The tough talk over the revaluation of China's yuan heated up, with Treasury Secretary John Snow aggressively calling for China to untie its currency from the dollar.
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Allen Beller, director of the Securities and Exchange Commission's division of corporate finance, said it is aiming to clarify what constitutes due diligence for an underwriter of a transaction.
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Parlaying a $400 million investment in the steel industry into a $4.5 billion return in a three-year period far exceeded Wilbur Ross' expectations. -
* A handful of what appeared to be Secret Service agents lined the room for Treasury Secretary John Snow's lunch-time speech.
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Thomas Fuller, v.p. and cfo of VCA Antech, on the company's refinancing.
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Treasury Secretary John Snow brushed off questions over whether the Treasury is considering bringing back the 30-year bond, which fixed-income investors are clamoring for amid the low-yield environment.
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Treasury Secretary John Snow focused on the need to reform Social Security as one of the most pressing topics facing the U.S. economy at last week's annual Bond Market Association meeting.
