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Bonds Junk Bonds


  • CHICAGO, May 27- Strong investor demand pushed yields lower for $674 million of Chicago bonds priced on Wednesday, but the city continued to pay a penalty for its shaky finances. Carole Brown, Chicago's CFO, said the four bond issues attracted $6 billion in orders. On May 12, Moody's Investors Service downgraded Chicago's credit rating to junk, due to an Illinois...

  • May 21- Moody's Investors Service on Thursday cut Puerto Rico's bond ratings further into junk status, saying the troubled U.S. territory would not be able to access markets by the June 30 fiscal year-end and might have to prioritize debt payments. Puerto Rico is struggling with $72 billion in debt and faces a bond payment of $655.2 million on its general...

  • CHICAGO, May 21- Banks that entered into credit and other deals related to Chicago's general obligation variable-rate debt have agreed not to demand payments triggered when the city's rating was cut to junk by Moody's Investors Service, according to city documents. The forbearance agreements between Chicago and the banks will allow the city to convert the...

  • UPDATE 1-S&P downgrades Chicago GO bonds to A- from A+ Thursday, 14 May 2015 | 7:57 PM ET

    CHICAGO, May 14- Chicago's credit rating suffered a new blow on Thursday when Standard& Poor's Ratings Services dropped it two notches to A-minus and warned it could fall even further. S&P's downgrade came just two days after Moody's Investors Service dropped Chicago's general obligation rating into the junk level in the wake of an Illinois Supreme Court...

  • CHICAGO, May 13- A day after pushing Chicago's credit rating to junk, Moody's Investors Service dropped ratings on Wednesday for the city's school and park districts to that level as well. Moody's dropped the rating on $6.2 billion of Chicago Board of Education general obligation bonds three notches to Ba3 and the rating on $616 million of Chicago Park District...

  • NEW YORK, May 13- A downgrade of Chicago's debt rating to junk created confusion in the $3.7 trillion U.S. municipal bond market on Wednesday, with prices sliding in a volatile session and predictions that they still have further to fall. While Moody's Investors Service downgraded the city's $8.1 billion of general obligation debt to junk at Ba1, other big Wall...

  • Moody's cuts Chicago credit rating to 'junk' Wednesday, 13 May 2015 | 11:00 AM ET
    Moody's cuts Chicago credit rating to 'junk'

    Chicago debt was downgraded by Moody's to "junk" level. CNBC's Kate Rogers explains.

  • CHICAGO, May 12- Moody's Investors Service on Tuesday pushed Chicago's credit rating into the "junk" category, citing limited options for easing the city's growing unfunded pension liability after a state court last week invalidated a state pension reform law. The downgrade of Chicago's $8.1 billion of general obligation bonds moves the city's rating down...

  • Everyone's looking for yield: Kamen Monday, 4 May 2015 | 5:00 AM ET
    Everyone's looking for yield: Kamen

    Have negative bond yields forced investors to seek returns from riskier assets like equities and junk bonds? Ken Kamen, president at Mercadien Asset Management, weighs in.

  • ATHENS, April 30- Ratings agency Moody's on Thursday cut Greece's credit rating deeper into junk territory due to uncertainty over whether the indebted country will be able to reach a deal with its international lenders in time to meet upcoming debt repayments. Moody's said it downgraded Greece's government bond rating to' Caa2' from' Caa1' and assigned it a "...

  • Puerto Rico not for faint of heart: Muni pro Tuesday, 28 Apr 2015 | 4:42 PM ET
    Public water utility workers fix a pipe in Old San Juan. The island-territory of the United States is on the brink of a debt crisis as lending has skyrocketed in the last decade with the government issuing municipal bonds mostly to finance pensions.

    Jeffrey Gundlach recently doubled his investment in Puerto Rico's debt, but that's no reason for the average investor to jump in, a bond pro said.

  • If nobody likes bonds, who’s buying? Sunday, 19 Apr 2015 | 6:53 PM ET

    It's a conundrum: bonds aren't likely to win a popularity contest any time soon, but analysts don't expect investor demand will slack off.

  • ATHENS, April 15- The ratings agency Standard& Poor's on Wednesday cut Greece's credit rating deeper into junk territory, citing worsening economic conditions due to prolonged negotiations between the country and its lenders. Greece has been locked in talks with its EU and IMF creditors on economic reforms for months and risks running out of cash within weeks...

  • Jumping on junk: Investors crazy for high yield Monday, 30 Mar 2015 | 1:51 PM ET
    Traders work on the floor of the New York Stock Exchange on March 18, 2015, in New York City.

    The supply of U.S. companies with junk-rated debt is rising just as investor demand for higher yields is climbing.

  • Play corporate bonds for the short term: Goldman Sunday, 29 Mar 2015 | 11:27 PM ET

    While corporate bonds may not look terribly attractive amid rising rate expectations, Goldman tips a good performance – but only in the short term.

  • Citi: Here's why these shares could surge 70% Tuesday, 10 Mar 2015 | 8:26 AM ET
    A trader at the Frankfurt Stock Exchange

    The European economy may appear mired in low growth and low-flation, but shares there may surge as much as 70 percent by end-2016, Citigroup said.

  • A man walks past an electronic board displaying share prices at the Indonesia Stock Exchange (IDX) in Jakarta, Indonesia, on Thursday, April 10, 2014.

    An Indonesian telecom found a way to restructure its debt over creditor objections: it loaned itself money and counted its own votes toward approval.

  • A legendary scandal: Where are they now? Friday, 13 Feb 2015 | 9:31 AM ET
    Michael Milken 1989

    Drexel collapsed 25 years ago, but alumni of the once powerful investment bank are now in some of Wall Street's most powerful posts.

  • Faber Report: Demise of Drexel Friday, 13 Feb 2015 | 9:17 AM ET
    Faber Report: Demise of Drexel

    CNBC's David Faber takes a look back at the collapse of Drexel Burnham 25 years ago.

  • Is it time to get back into energy bonds? Thursday, 12 Feb 2015 | 10:24 PM ET

    Energy bonds took a hit from fears low oil prices would spur a surge in defaults, but most issuers should stay resilient, Goldman Sachs said.