corporate bonds issue

The rise in Treasury prices was enhanced as demand began to appear for investment-grade corporate bonds issued earlier in the month.

Q. Last week, Moody's Investors Service said this group held $8.8 billion worth of corporate bonds issued by troubled companies.

Hyundai plans to use the money to buy three-year corporate bonds issued by the ailing Hyundai Engineering and Construction Company.

One reason for the selling of the 30-year bond was that traders were hedging against losses as they bought corporate bonds issued yesterday, Mr. Pike said.

Tobacco settlement bonds also yield more after taxes than comparable corporate bonds issued by the tobacco companies, Mr. Fitterer added.

Corporate Bonds Among the new corporate bonds issued yesterday was a $300 million offering of five-year 9 3/8 percent notes from the Continental Corporation.

In London, Daiwa and its even larger rival, Nomura Securities, have become the largest underwriters of corporate bonds issued on the Euromarket.

The T. Rowe Price Emerging Markets Bond Fund will own high-yielding government and corporate bonds issued in Latin America, central Europe, Asia and Africa.

According to Larry Keele, a manager of the Vanguard Convertible Securities fund, the yields on convertibles typically range three to five percentage points lower than those for corporate bonds issued by the same company.

Among the Administration's proposals was to deny tax benefits to corporate bonds issued for maturities longer than 40 years and to hybrid securities that go by names like MIPS and combine characteristics of debt and ownership.

Freddie Mac, whose charter calls for it to invest primarily in mortgages and mortgage securities, then used the $125 million to buy corporate bonds issued by the Philip Morris Companies with identical 10-year maturities yielding 7.68 percent.

Dealers Lightening Positions Although some decline in Treasury prices reflected the auction, traders said some dealers were lightening their positions in Government securities to cover inventories of unsold corporate bonds issued so far this week.

Kazuyoshi Kimura, president of the Nikko Asset Management Company, resigned to take responsibility for the collapse of his company's money market fund that invested in corporate bonds issued by the Enron Corporation, the failed energy trader.