Bank Of America Bonds Rise On Meredith Whitney's Soothing Words

Wednesday proved a messy day for corporate bonds after treasury bulls pulled in their horns in response to the strongest jump in durable goods orders since April. Bonds have risen in response to a global slowdown as demand for safer harbors increased. Yields had been driven to a panic low last week as stock investors threw in the towel over fears that the economy would grind to a halt.

Bonds have been further supported on hopes for hints of further stimulus from the Fed this week. The sharp rebound in orders for manufactured goods meant to last beyond three years popped bond-hopefuls little bubble on Wednesday but failed to spark a further surge in equity prices. Government bond yields rose accompanied by a widening in many cases for corporate debt as anxieties grew deeper.

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- Posted: 2011-08-24 14:40:32

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