• Pimco buys all of $3 billion UniCredit bond: sources

    14 days ago - By Reuters

    U.S. fund Pacific Investment Management Co has bought all of a $3 billion, five-year bond offered with a hefty return by Italy's top bank UniCredit to comply with capital buffer rules, two sources familiar with the matter said.
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  • Risky Corporate Debt Among Top U.S. Threats Flagged in Fed Financial Stability Report

    14 days ago - By Fortune

    The U.S. economy is showing some vulnerabilities as investors increasingly buy up risky corporate debt and businesses rely on "historically high" borrowing levels, the Federal Reserve said Wednesday in its first-ever financial stability report.
    Should the economy turn, money managers who've been chasing returns might be in for a rude awakening, with prices for leveraged loans and junk bonds potentially causing some of the steepest losses, the U.S. central bank warned.
    "High leverage has historically been linked to elevated financial distress and retrenchment by businesses in economic...
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