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0.000330742516950488 0.000972382999834595 0.00115759880932694 0.00264594013560438 -0.00049611377542585 -0.00760707788986275 -0.00314205391103034 -0.00314205391103034
Stock impact report

Illinois' $500 mln bond sale gets boost from yield hunters [Reuters]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Reuters
Illinois' $500 mln bond sale gets boost from yield hunters | Reuters Reuters Staff 3 Min Read CHICAGO, April 25 (Reuters) - Investors seeking hefty yields helped Illinois’ $500 million bond sale on Wednesday result in narrower spreads over the municipal market’s benchmark scale. Yields topped out at 4.88 percent for bonds due in 2043 in the two-part general obligation bond competitive sale won by Bank of America Merrill Lynch. “It’s just a lot of money looking for yield,” said John Mousseau, fixed-income director at Cumberland Advisors. As the lowest-rated U.S. state, Illinois has had to pay a substantial penalty to sell debt to investors worried about its ongoing political and financial problems which include a huge unfunded pension liability and chronic budget deficits. Spreads over Municipal Market Data’s (MMD) benchmark triple-A yield scale narrowed roughly 3 to 15 basis points from where the state’s bonds had been trading in the secondary market, according to MMD, a unit of Thoms Show less Read more
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