Junk bonds make a comeback
Low-rated “junk bonds,” once considered financial poison, are making a comeback. In 2010, companies worldwide issued a record $275 billion in high-yield debt, as the bonds are more politely known, up from $163 billion last year. With typical yields of about 7.5 percent, junk bonds return far more than high-rated corporate or government debt.
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Savvy trades by congressional aides
In 2008 and 2009, at least 72 congressional aides bought or sold shares in companies their bosses oversee. One staffer bought shares in Bank of America after getting advance word that it had passed its federal “stress test.” There’s no law against congressional staffers trading on nonpublic information they learn on the job.
The Wall Street Journal
Time to give Diamond the go ahead?
President Obama’s nomination of economist Peter Diamond to a seat on the Federal Reserve has been held up for months by Alabama Sen. Richard Shelby, who claims Diamond is unqualified. Diamond won the Nobel economics prize this week.
WashingtonMonthly.com
Companies hire at snail's pace
The number of private-sector job openings increased 33 percent in the 12 months ended in August, but hiring increased only 4 percent. With the economy recovering slowly, employers are taking extra time to find the best-qualified employees.
USA Today
Good news for the ad business
The advertising business is finally turning around. In the first six months of 2010, total U.S. ad spending was up 4 percent over the year-earlier period. Auto and auto insurance advertising showed the biggest gains.
Forbes.com