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EFSF hires banks for new 3yr benchmark bond
Reuters: Financials
Mon, 25 Feb 2013
LONDON, Feb 25 (IFR) - The European Financial Stability Facility (EFSF), rated Aa1/AA+/AAA, has mandated Credit Suisse, JP Morgan and Morgan Stanley for a new three-year euro benchmark bond, the euro rescue fund said on Monday.
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Morningstar's Eric Jacobson reviews bond fund performance and fund flows in 2010, analyzes recent performance hiccups in fixed income, and pinpoints the factors that should be on bond investors' radars today.
The $700 billion that has flowed into taxable-bond funds in the last five years is larger than flows into U.S. equity funds in the late '90s, but investors today seem to be reacting to fear and not chasing performance.