The damage from the frozen auction rate security market is spreading to municipal bonds in general. Hedge funds were borrowing short-term to go long-term and now that short term money is frozen or available. Hello margin calls and forced selling, which of course just speeds up the death spiral.
Source : Politics in the Zeros (Subscribe)
Explore : Bond markets, Bonds, Hedge funds, Markets
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Global overview: Deals drive equity sentiment (Financial Time)A fresh burst of merger and acquisition activity helped world stock markets maintain their upward momentum, in spite of some disappointing news on the US housing market.
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Power In Energy Trading Shifts to Smaller Brokers (Wall Street Journal)Small energy brokers active in over-the-counter markets are flourishing while those operating on regulated commodities exchanges languish.
