Bear Stearns' Hunt for Big Cash
Wall Street bond traders are raising eyebrows at Bear Stearns' (BSC) attempt to sell some $3.86 billion in mortgage-backed bonds—just as the big investment firm tries a last-ditch attempt to salvage one its ailing hedge funds. The big bond deal is prompting speculation that Bear Stearns traders are trying to raise cash by selling off some of the troubled hedge fund's better assets held by the Bear Stearns' High-Grade Structured Credit Strategies Enhanced Leverage Fund, which invested heavily in bonds backed by subprime mortgages.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- One of the World’s Hottest Stocks Is Now Tumbling
- This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again
- Recent ‘Odd’ Market Moves May Be a Warning Sign for Stocks
- The Global Economy Is Doing Just Fine, But the Davos Elite Is Worried
- U.S. Stocks, Treasuries Rise as Greenback Weakens: Markets Wrap