Relevant:
- Illinois Borrowing Costs Rise by 22.5%, Expect Conditions to Worsen; Sideline Cash Nonsense From Nuveen
- U.S. Bank takes 9.5% stake in Nuveen
- Auction Market Shrinks by $51 Billion, With Failure Rate at 71%
- The Hidden Costs of The Auction Failures
- Auction Failures Rise to 71% as Dallas-Area Airport Refinances
2008-02-14 — bloomberg.com
'Record failures in the roughly $331 billion U.S. auction-rate bond market are lifting borrowing costs and squeezing closed-end funds run by Nuveen Investments Inc. and other firms that sell such debt to boost returns.'
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