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NEW YORK (AP) - Treasurys rallied Friday, benefiting from a stock market unnerved by liquidity troubles at Bear Stearns and data showing unexpectedly mild inflation last month.
Bear Stearns Friday revealed it will tap JPMorgan Chase & Co. for a four-week secured loan facility to boost the company's liquidity. JPMorgan will make the loan in conjunction with the New York Federal Reserve.
Throughout this week, investors have been concerned about the investment bank's possible explosure to collapsing fund Carlyle Capital and other at-risk investment funds. Carlyle Capital, an arm of private equity firm Carlyle Group, invested heavily in poor-quality mortgage assets and has had to default on $16.6 billion in debt.
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