Floating-rate funds attract investors as rates rise
Investors flood into floating-rate bank loan funds as 10-year yields climb. Morningstar data show $99 billion in assets, up 36 percent from year end 2012, while risk remains from defaults on weak credits and liquidity during panics.
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Fed signals possible roll back of stimulus this year
Markets tumbled as investors reeled from the Fed's hint it may begin tapering later this year and end bond buys by mid-2014 if growth holds. The S&P 500 fell to 1,588, down 4.9 percent from its May 21 record high, though the index remains up about 11 percent for the year.
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Florida man gets 11 years for NY investment fraud
A Fort Lauderdale man, John Mattera, was sentenced in Manhattan federal court to 11 years for defrauding investors in the Praetorian Global Fund Limited. He claimed to own millions of Facebook and Groupon shares and spent about 4 million on jewelry, jets, a boat, and cars. Morgan Stanley seeks full 35 percent stake in Citigroup JV for 4.7 billion, with completion expected June 28.
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