The News Review:
- Treasurys lower after 5-year auction
- Dealers submit $25.9 bln in Fed’s $37.5 bln TSLF auction
- Liquidators lead bids at Fortunoff auction-source
- Jupiter condo slated for auction
- AIG’s Auction of Asian Arm Failing: Report
Treasurys lower after 5-year auction
MarketWatch -
25 2009 NEW YRK (MarketWatch) — Treasury prices moved lower Wednesday pushing yields higher for a third day as the government sold a record amount of 5-year notes the second in a trio of U. auctions flooding the bond market with fresh supply this week.
Dealers submit $25.9 bln in Fed’s $37.5 bln TSLF auction
Reuters -
9billion of bids for the $37. 5 billion of Treasuries offered inthe Federal Reserve’s 28-day Term Securities Lending Facility(TSLF) auction on Wednesday the New York Fed said on itsWebsite. The bid-to-cover ratio a gauge of demand was measured at0. 69 above a ratio of 0. 63 in a similar auction on February18. Dealers can lend out the Treasuries in exchange forshort-term cash loans in the U.
Liquidators lead bids at Fortunoff auction-source
Reuters -
luxury retailer Fortunoff Holdings LLC according to a personwith knowledge of the auction. The company which sells jewelry dinnerware and furniturein New York New Jersey Pennsylvania and Connecticut filedfor bankruptcy protection earlier this month. A lead bidder or so called “stalking horse” is typicallynamed in bankruptcy auctions to create a floor for thebidding. A second group of liquidators Great American Group HudsonCapital SB Capital and Tiger Capital have submitted acompeting offer to run the company’s going-out-of businesssales said the source who asked to remain anonymous. The auction was taking place on Monday evening the sourcesaid. Fortunoff is owned by NRDC Equity Partners a privateequity firm that bought the retailer out of an earlierbankruptcy last year. (Reporting by Emily Chasan).
Jupiter condo slated for auction
Bizjournals.com NC -
7 million judgment. Boca Raton-based Wave Riverwalk Place planned to build a five-story condo on the 4. 7-acre site at 160 Mangrove Bay Way but construction stalled amid contractor lien filings.
AIG’s Auction of Asian Arm Failing: Report
TheStreet.com -
AIG initially intended to sell 49% of American International Assurance which is Asia’s largest life insurer with operations in 10 countries. It has since signaled it would sell the entire unit. The Journal reports the apparent failure of the auction could explain why AIG has asked the U. government to restructure the terms of its bailout. A key aspect of the plan involves allowing AIG to repay some of its obligations to the government or up to $100 billion — with stakes in operating businesses such as those in AIA. People close to potential bidders say AIG has been slow to market the business and bidders have griped about AIG’s price expectations of $20 billion to $40 billion on the unit.
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