People are just readjusting their sightson how low yields can go and that's not just a U.S. "This is a battle between the dismal state of the economyand prospects for the Fed buying longer-dated securities, bothof which are bullish for bonds, and the unprecedented avalancheof supply throughout the year, which is bearish," he said. Spinello said as traders turn their attention to theinaugural speech of the new U.S. The 10-year note yield fell to a fivedecade low of 2.04 percent in mid-December.
Thirty-year Treasury bonds were down 10/32 in price, theiryields rising to 3.05 percent from 2.92 percent US30YTRRlate on Friday. Two-year Treasury notes were down 2/32, their yields risingto 0.77 percent US2YTRR from 0.73 percent on Friday. (Reporting by Ellen Freilich; Editing by Chizu Nomiyama) Bonds Funds News ETFs News. SHANNON, Ireland(Business Wire)GE Commercial Aviation Services (GECAS) today announced that its engine leasingunit signed 120 new engine lease agreements in 2008, approximately 10 placementsper month. "At the end of our 10th anniversary year, we have grown to a portfolio of some350 owned and managed engines," said Julie Dickerson, general manager GECASEngine Leasing. "But we couldnt have done it without our 140 airline customersaround the world and a talented group of employees." The engine leasing unit started in 1998 as a trial venture within of GEAviation. A team of four people in the basement of one of the buildings in GEsmain plant in Evendale, Ohio, was charged with creating a bigger pool of rentalengines that could be offered to customers whose engines were undergoingmaintenance overhauls.
In only three months, the group purchased $100 million ofspare engines and realized that a partnership with GECAS could enable fastergrowth and customer financing. GEs Engine Leasing unit operated as a jointventure between GECAS and GE Engine Services until 2005 when it fully became aunit of GECAS. In 2006 and 2008, GECAS Engine Leasing completed two engine securitizationstotaling more than 80 spare engines. The 2006 "Blade" securitization wasrecognized as "Deal of the Year" by AirFinance Journal magazine. Today, GECAS Engine Leasing offers a full range of operational and financialservices, including short-term rentals, guaranteed spare engine availability,engine exchanges, operating leases (including sale/leaseback), and structured,long-term finance options on engines from GE, CFMI, Rolls-Royce, Pratt & Whitneyand IAE. "Despite challenging economic conditions, we expect airlines will lease more oftheir spare engines in 2009 instead of choosing the more capital-intensiveownership option," Dickerson added.
About GE Commercial Aviation Services (GECAS)GECAS, the US and Irish commercial aircraft financing and leasing business ofGE, has a fleet of over 1,500 owned aircraft with more than 250 airlines in some78 countries, and it manages over 300 aircraft for others. GECAS offers a widerange of aircraft types and financing options, including operating leases andsecured debt financing, and also provides productivity solutions including spareengine leasing, spare parts financing and management. GECAS, a unit of GECapital, has offices in 28 cities around the world. GE is a diversified global infrastructure, finance and media company that isbuilt to meet essential world needs. From energy, water, transportation andhealth to access to money and information, GE serves customers in more than 100countries and employs more than 300,000 people worldwide.