This $600 Billion Bond Manager Says Don’t Count on Liquidity

Changing market structure resulting in historically low fixed income market liquidity presents challenges but also opportunities for fixed income investors Source: Bloomberg Michael Lillard, who oversees more than $600 billion as head of fixed income at Prudential Financial Inc.’s asset manager, said investors have to adjust to a market in which it’s become more difficult to…

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Education Management Corp. Seeks to Reverse Ruling Protecting Minority Bondholders

Lawyers for firm say ability of businesses to restructure debt outside of bankruptcy proceedings is on the line Source: The Wall Street Journal Warning that the ability of troubled businesses to restructure their debt outside of bankruptcy proceedings is on the line, lawyers representing for-profit education company Education Management Corp. and its lenders have urged an…

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U.S. Corporate Issuance May Get Boost in Europe

McDonald’s sold $2.3 billion of euro-denominated bonds last week as U.S companies take advantage of the eurozone’s cheap debt. Source: The Wall Street Journal A giant new buyer in the corporate-bond market–the European Central Bank–is set to cement a trend of American companies issuing debt on the continent. So great may be the flood, some analysts…

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Fintech Innovation Through Partnerships

Within the broader financial world, it is increasingly apparent that change is afoot — new platforms, new technologies and (perhaps most significantly) new relationships are now coming to define the future of an industry that is at a crossroads. That crossroads is simple: after decades of developing internalized processes and ways of doing business, major…

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