Uncharted Waters Get Muddier
Way back in July, SI reported that investors were still “sifting through” Bank of America’s $8.5 billion settlement with aggrieved bondholders, and that traders were touting multi-million Bids-Wanted-In-Competition s of senior tranche notes, saying cashflows on the legacy paper were set to increase 8-10% percent (SI, 7/1/11).
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