While regional-bank stocks continue to be dragged down by the troubles assailing New York Community Bank, their bonds are holding up — suggesting bondholders view NYCB’s issues as isolated.
NYCB’s NYCB sole traded bond tumbled last week as its stock shed more than 40% of its value after the bank posted a surprise quarterly loss and disclosed trouble with its commercial real-estate loans. The company also slashed its dividend to build up capital to meet regulatory requirements.
The…
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