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Thunelius is director of the long-term fixed income group and senior portfolio manager for the taxable-fixed income group. His group of 12 portfolio managers oversees $5 billion in taxable-fixed income that runs the gamut from low-duration Treasury funds to generic mortgage-backed security funds. He received a Bachelors degree from Dowling College in Long Island, N.Y., with a major in finance. Here, Thunelius, who has been at Dreyfus for 12 years, talks mostly about the $430 million Premier Core Bond Fund.

A $25 million piece of Xerox Corporation's bank debt was unloaded last week, and dealers tagged the buyer as a Japanese bank looking to play the bank debt against the company's bonds. The debt traded in the low 60s, essentially flat to where it has been. The copier-based company is headquartered in Stamford, Conn. A spokesman declined to comment on the bank debt levels and said that officials will give a report of the fourth quarter earnings today.

Insight Communications' "B" tranche traded up to 100 1/8 early last week, with an additional trade hitting the par 5/8 level. "It's a good asset with little supply in the market," a dealer said the reason. Also helping levels was the relief on the "B" tranche, which dealers said had been oversubscribed. They said that the levels have been stable. The New York City-based cable company has expanded into two-way broadband networks. It serves 1.5 million subscribers mainly in Illinois, Indiana, Kentucky and Ohio. Calls to the company were not returned by press time.

Rick Lazio, former member of the House of Representatives and defeated senatorial candidate in New York, is being discussed in industry circles as somebody who might be considered to replace the current comptroller of the currency if the Bush Administration decides to replace him. Incumbent John Hawke is a Democrat. The White House press office refuses to talk about appointments before they are announced.

Dresdner Kleinwort Benson's union with Wasserstein Perella & Co has commercial bankers at Dresdner expecting to bear the brunt of cuts. A Dresdner insider said North American operations can expect to undergo the most structural changes, with the lending group being the hardest hit. Traditional lending will become more selective and disciplined, whereas historically, lending was more arbitrary, he added. "I think bankers in commercial banking would have a little problem" more than anyone else, he said.

A $15 million piece Loews Cineplex's bank debt traded in the mid-70s early last week. Traders agreed that the company's announcement that it would be closing more than 100 of its locations shouldn't affect levels. "It's no surprise. Everyone realized the theater industry had reached over capacity," a market watcher said. One dealer alluded to a bank meeting held last Tuesday afternoon, but didn't elaborate on the nature of it. The company has issued statements saying that a Chapter 11 bankruptcy filing is a possible outcome. Calls to the New York City-based company were not returned by press time.

The rumored bond deal that sent trade levels for Allied Waste into the high 97 range two weeks ago came through last week, as the company announced a $600 million bond deal that will ratably pay down portions of tranches "A," "B" and "C." Dealers said last week that the company may increase the amount to $1 billion. There were a number of trades, each for $5 million, on the Street last Monday at 983Ž 8. Calls to the company were not returned by press time.

A $25 million piece of AT&T pro rata paper traded late last week at 99 3/8 . According to dealers, the level is on target with recent trades. One market watcher said the paper had been quoted at 99 1/4 the day before the trade. "A couple huge orders had come through [last week], which is why the prices are up," a trader involved in the deal said. "I think it will stay at this level because people aren't as aggressive."

BANK ONE is reportedly considering a collateralized loan obligation to shift some of its loans off its balance sheet. Linda Bammann, loan portfolio manager at BANK ONE, declined to comment. The bank is reportedly weighing whether to shed investment grade or below investment grade loans. One source said the bank was in discussions with Goldman Sachs, but nothing had been mandated yet. A Goldman banker said nothing for BANK ONE is in the firm's pipeline.

Bank of Montreal is close to wrapping up syndication of its $500 million deal backing Pogo Producing's acquisition of NORIC Corp.'s North Central Oil. Pricing on the five-year revolver is expected to be LIBOR plus 2%. Bank of America, Toronto Dominion Bank, and FleetBoston Financial are in as managing agents. The banker said general syndication began in early January and the syndicate comprises roughly 40 banks. "In this market you need about 40 banks to get an oil deal done," he said. Officials at Pogo Producing did not return calls.

The year's first regional subordinated debt deal was concluded this week when Bank of East Asia's (BEA) financial subsidiary, East Asia Financial Holding, launched a $550m 10 year non-call five bond issue. The 144a Reg S registered, lower tier two transaction was priced on Monday in New York, with the investor response meriting an increase in the deal's size from $500m.

Australia UtiliCorp Asia Pacific has launched a A$75m five year bond issue, said sole lead manager Westpac Institutional Bank this week. The BBB rated Australian company, which is a subsidiary of US-based UtiliCorp, placed the floating rate note issue at 95bp over BBSW, with a step-up coupon of 50bp if the company's rating falls to BBB-.