|
|
|
|
| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
|
|
| Bonds Online |
|
|
| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
|
S&P National Bond Index
|
3.00% |
|
|
S&P California Bond Index
|
2.96% |
|
|
S&P New York Bond Index
|
3.13% |
|
|
S&P National 0-5 Year Municipal Bond Index
|
0.70% |
|
|
| S&P/BGCantor US Treasury Bond |
400.09 |
|
| More |
|
| Income Equities: |
|---|
| Preferred Stocks |
|---|
|
S&P U.S. Preferred Stock Index
|
848.03 |
|
|
S&P U.S. Preferred Stock Index (CAD)
|
636.26 |
|
|
S&P U.S. Preferred Stock Index (TR)
|
1,701.05 |
|
|
S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
|
|
| REITs |
|---|
|
S&P REIT Index
|
174.07 |
|
|
S&P REIT Index (TR)
|
425.30 |
|
|
| MLPs |
|---|
|
S&P MLP Index
|
2,469.58 |
|
|
S&P MLP Index (TR)
|
5,428.50 |
|
|
See Data
|
|
|
|
 |
|
|
|
|
|
|
The Bonds That Tie: MF Global's Quirky Corzine Clause |
THE WALL STREET JOURNAL - August 3, 2011 - By SHIRA OVIDE And KELLIE GERESSY-NILSEN
Call it the Corzine Premium.
Wall Street executives often measure their worth by the lavishness of their bonuses or the size of their yachts. But former Goldman Sachs Group Inc. chief Jon Corzine may have landed a new Street status symbol.
Mr. Corzine's current employer, MF Global Holdings Ltd., is promising to compensate investors who buy his company's bonds with an interest-rate bump if the chief executive and former U.S. senator jumps ship for a government job. In essence, the securities deal assigns a value on the man filling the corner office: a one-percentage-point cherry atop the $300 million bond offering, or up to $15 million.
According to a "Key Man Event" clause in the bond prospectus, the carrot doesn't kick in for any old government job. Rather, it gets paid only if Mr. Corzine leaves MF Global "due to his appointment to a federal position by the President of the United States," and the Senate confirms him before July 1, 2013. That is nearly six months into the next presidential term.
It remains unclear whether Mr. Corzine has his eye on returning to public office. President Barack Obama supported Mr. Corzine's unsuccessful 2009 re-election run for New Jersey governor. More recently, Mr. Corzine held a fund-raising dinner for Mr. Obama.
At a briefing Tuesday, White House press secretary Jay Carney was asked about the possibility of a government post for Mr. Corzine. Mr. Carney said he had no knowledge that Mr. Corzine was being considered for a White House job. That sentiment was echoed by people close to Mr. Corzine.
MF Global declined to make Mr. Corzine available for comment.
For the complete article.
|
|
|
|
|
|
| Partner Market Place |
|
|
|
| Stuff to look at |
Yield and Income Newsletter: A must have for income investors. subscribe NOW
S&P Commentary and Newsletters: S&P
|
|
| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
Keep up with monthly, in-depth coverage of fixed income market strategies, commentary, and insights as seen by our sources. Sign up for the free BondsOnline Advisor now!
Unsubscribe here [+] |
|
|
|
|
|
|
|
|
