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Bond Market News
Lumen’s Bonds Continue to Trend Higher
August 1, 2024
Lumen’s bonds have risen over 8-10 points this week. The company recently announced its partnership with Microsoft. Lumen said that it will use Microsoft’s Cloud to drive its digital transformation leading to reduction in its overall technology costs, removal of legacy systems and creating new solutions for its global customer base. More recently, Corning announced that it’s selling 10% of its fiber capacity for the next two years to Lumen to help the latter build of a new network to interconnect AI-enabled data centers. The stream of positive updates have seen its shares soar by nearly 190% in July. Its bonds have jumped higher in this period too, as seen in the chart.
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