Fidelity Investments has entered an alliance with Lehman Brothers Inc. to give some of Fidelity's customers access to initial public offerings of stocks and bonds that are lead-managed by the Wall Street investment bank.

Fidelity announced a deal Monday that would also give its retail customers, retirement-product clients, and those who buy its products through brokers access to other Lehman stock and bond products, including secondary offerings, as well as equity and debt research.

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