Puerto Rico Menaces Mutual Funds That Resisted Market Exodus
More than 24 mutual funds hold about $15 billion of uninsured Puerto Rico bonds, about 20% of the island's debt.
Direxion Adds 5 Leveraged ETFs Tied to Changing Policies: Portfolio Products
In other product news, Arrow Funds placed two ETFs on E*TRADE’s commission-free ETF platform.
What to Expect From the Bond Market
Bonds can solve a problem or create one, according to Paul Matlack of Delaware Funds Macquarie Investment Management.
Puerto Rico Files for Historic $70 Billion Debt Restructuring
The proceedings will dwarf Detroit’s record-setting bankruptcy.
Top 9 Asset Managers to Work With Over Next 10 Years
A Morningstar research report identifies the qualities firms need to succeed in the future.
AllianceBernstein Fires CEO Peter Kraus and Removes More Than Half Its Board
Kraus is replaced by former JPMorgan executive Seth Bernstein as CEO and former World Bank President Robert Zoellick as chairman.
Ultra-Long U.S. Bonds Can Absolutely Make Sense: Mnuchin
Treasury to issue refunding plans for April-June; economic growth to stay under 3% this year and next, says Mnuchin.
Morningstar to Offer Advisors a New Tool to Evaluate Risk: Portfolio Products
In other product news, Ivy enters the passive world with five new index funds.
Vanguard Announces Fifth Round of Fee Cuts Since December
The latest round include cuts for the world's largest stock and bond funds, the Vanguard Total Stock Market Index and Total Bond Market Index funds.
Mnuchin's Ultra-Long Bond Bid Hits Wall Street Reality
Insurers might love to hold on to bonds for 50 years, but how would banks feel about that?