Federated Investors Inc.’s profit increased 8% in the first quarter on higher demand for its money market funds.
Credit Suisse lost $2.1 billion for the first quarter, compared with a profit of $2.7 billion in same period in 2007.
Net new issuance of Treasury coupon securities is expected to hit $47 billion in the second quarter.
One Goldman analyst says the bond insurers will need $3.4 billion each in added capital thanks to more quarterly losses.
Advisers must distinguish between their ability to provide financial advice and the client’s need for legal counsel.
Congressmen question an apparent conflict of interest between holders of auction rate securities and fund companies.
The number of new homes sold in March fell to a seasonally adjusted rate of 526,000, down 37% from last year.
Greg Coffey, a portfolio manager with the hedge fund, who oversees $7 billion in assets, is stepping down May 1.
The redemptions would be the first involving tax-free closed-end funds caught in failed auctions.
The board of directors also announced a plan to repurchase up to $1.5 billion of the company's stock over the next two years.
