Bear Stearns Launches Market's First Global High Yield Index.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and LONDON--(BUSINESS WIRE)--June 30, 1998--Bear Stearns announced this month the launch of the Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Global High Yield Index (BSGX). The index is the second formal fixed income index launched by the firm - the first was the introduction of the Bear Stearns High Yield Index (BSIX) in 1994. The third, the Bear Stearns Euro Aggregate Index will be launched later this year. BSGX adds the debt in emerging markets and developed countries worldwide to the existing BSIX index for a combined measurement of the performance and statistical characteristics of the ever important global high yield debt markets - the U.S./Canada, the emerging markets worldwide and burgeoning European markets. The index is a composite housing several important regional and statistical sub-indices including Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Asia Pacific, U.K. Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). and Eastern Europe/Russia. Sub-indices also include the existing (and mainly domestic) Bear Stearns High Yield Index (BSIX), an Emerging Markets Country Index and an index comprised of the high yield debt of ECU countries. As of May 31st, the BSGX composite included 2241 instruments with a par value of $723 billion representing high yield debt from 52 countries. The composite and regional indices are unique in that they are 100% rules based and trader priced with no country restrictions. "These index tools compliment the strong analytics and credit analysis Bear Stearns already offers to our institutional customers involved in these international markets," said Walter McGuire, managing director in the Global High Yield Research department at Bear Stearns. "Our institutional clients continue to seek yield in the growing global high yield marketplace. Development of risk assessment, strategy and allocation tools for these markets is one of the keys to success. With these systems, the process by which our account base captures essential economies of scale in areas of global credit analysis, derivative applications, marketing and portfolio modeling is far more efficient." Elsewhere, Bear Stearns International Limited is in the process of creating a Euro Aggregate index for release late Autumn 1998, designed specifically for the concerns of the European investor and issuer base entering the EMU environment in January 1999. The index will cover all investment grade, fixed rate products issued by or in the currencies of the 11 EMU member countries. It will span governments, supranationals, corporates, ABS and MBS See Mb/sec. MBS - mobile broadband services bonds. Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading and brokerage firm, is the major subsidiary of The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange : BSC (Binary Synchronous Communications) See bisync. ). With approximately $16.3 billion in total capital, Bear Stearns serves governments, corporations, institutions, and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, asset management, correspondent clearing, securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. , and custody services. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has over 9,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, and San Francisco; and an international presence in Beijing, Buenos Aires, Dublin, Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Hong Kong, London, Lugano, Paris, S o Paulo, Shanghai, Singapore, and Tokyo.
CONTACT: Bear Stearns
Mary Flounders Green
(212) 272-4356
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