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Annaly Capital Management, Inc. (NYSE:NLY) will buy back $600 million in 4 percent convertible senior notes that are due in 2015. This move appears to be in line with the company’s typically conservative financing aims, as it prolongs the average days to maturity of its repo agreements.
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A federal appeals court has reinstated a lawsuit that had been previously tossed, which alleges that Goldman Sachs Group Inc. (NYSE:GS) mislead investors in 2007 concerning the risks of mortgage-backed securities. This is a relatively minor case, but the ruling could set a precedent for hundreds or thousands of similar claims still out there.
JPMorgan Chase & Co. (NYSE:JPM) is said to have named the senior mortgage executive Craig Delany to lead its newly refocused and now conservative Chief Investment Office. The Office is responsible for investing the cash that accumulates when loan totals are less than deposits.
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