Bonds

Citi Posts $5.1 Billion Loss; Late Mortgages More than Double 

The bleeding continued for a second straight quarter at Citigroup Inc. [stock C][/stock], who said Friday morning that it lost $5.11 billion, $1.02/share, during the first quarter of 2008, thanks to a total of $13.9 billion in write-downs spanning mortgages to leveraged loans. The loss was greater than most analysts had forecast, although the write-down total was less than expected and revenues were greater than expected — meaning that Citi saw shares bounce in early morning trading, as a result.