Late Tuesday night, Judge Rakoff of the Southern District Court of New York ruled in favor of Assured Guaranty in its lawsuit brought against Flagstar Inc. for breaching its representations and warranties contract relating to over $900 million of residential mortgage-backed securities.
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY