FRANKFURT, Jan 31 (Reuters) - Private equity investor Lone Star has hired Rothschild and Bank of America Merrill Lynch as advisors for the planned sale of German corporate bank IKB, two people familiar with the transaction said.
The sale of IKB, one of Germany's highest-profile casualties of the financial crisis, will likely be kicked off shortly, they said.
Lone Star, IKB, Rothschild and Bank of America Merrill Lynch declined to comment.
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As US growth shows signs of sputtering and inflation keeps rising, a re-run of the tumultuous 1970s is looking more likely.
The March reading comes as investors have continued to scale back their expectations on when the Federal Reserve will cut interest rates in 2024, if at all.
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U.S. inflation rose moderately in March, but that is unlikely to change financial markets' expectations that the Federal Reserve will hold off cutting interest rates until September. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau of Economic Analysis said on Friday. Data for February was unrevised to show the PCE price index gaining 0.3% as previously reported.
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As U.S. inflation worries grow, some investors are preparing for the 10-year U.S. Treasury yield to breach a 16-year high of 5% hit last October. Bond yields, which move inversely to prices, have climbed in recent weeks as signs of persistent inflation erode expectations for how deeply the Federal Reserve will be able to cut interest rates without further fueling consumer prices. Many investors are betting further weakness lies ahead for bonds.