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What: Shares of Jefferies Group
So what: According to Bloomberg, Jefferies’ April 2021 notes rallied for a fourth straight day as investors drew distinctions between the firm and MF Global, a futures operator sunk by a multibillion-dollar bet on distressed European bonds.
Now what: The added confidence seems to be the result of repeated efforts to reassure shareholders. Most recently, the company said its own bets on European debt are net short $134 million, Bloomberg said. Deteriorating conditions on the Continent would therefore result in profits rather than the sorts of losses that sent MF Global into liquidation. Is that enough to get you to buy shares of Jefferies Group at current prices? Please weigh in using the comments box below.
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