Archive for May, 2016
Monday, May 16th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: PCLN, RAI, DGX Filings Added to List
2016-05-16 09:29:34.897 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* Priceline Group (PCLN) Baa1/BBB+, has asked BAML/GS/WFS to
arrange investor calls today;last priced a new USD deal in
March 2015
* Reynolds American (RAI) Baa3/BBB filed automatic debt shelf;
sold $9b last June
* Quest Diagnostics (DGX) Baa2/BBB+, ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, May 16th, 2016
Via Bloomberg:
Announced buybacks slumped 38% to $244 billion from a year ago
Macro uncertainty and banks’ absence contributed to decline
Corporate America has its eye on a new target as executives look to tighten their belts amid a slump in profits -- and this time shareholders won’t like it.
After snapping ...
Posted in Uncategorized | Comments Off on Corporations Slash Share Buybacks
Sunday, May 15th, 2016
Via the FT:
7 hours ago
by: Alistair Gray in New York
Forget the bright lights and fast pace of living in two of the world’s greatest metropolises, city living for a new generation of financial workers is now more Jacksonville in Florida and Warsaw in Poland than New York and London.
The US ...
Posted in Uncategorized | Comments Off on Jacksonville?
Sunday, May 15th, 2016
Via Bloomberg:
Australian bonds rose, pushing the benchmark 10-year yield to a record low, as signs of weaker growth in key trade partner China intensified concern that the South Pacific nation will struggle to turn its economy around without more policy stimulus.
The yield fell as low as 2.215 percent, 30 basis ...
Posted in Uncategorized | Comments Off on Record Low 10 year Yields in Australia
Sunday, May 15th, 2016
Via the FT:
3 hours ago
by: Sam Fleming and Shawn Donnan in Washington
Donald Trump has drawn scorn from economists for his threats to launch a trade war with China and to renegotiate the terms of US sovereign debt. Less noticed, however, have been the Republican presidential candidate’s apparent threats to dismantle ...
Posted in Uncategorized | Comments Off on Trump and the Mighty Greenback
Sunday, May 15th, 2016
Via the FT:
By Patricia Kowsmann in Lisbon and
Jeannette Neumann in Madrid
Updated May 15, 2016 12:54 a.m. ET
As interest rates in Europe fall near or below zero, lawmakers and consumer advocates in Spain and Portugal are attacking an ancient tenet of finance by insisting that lenders can owe money to borrowers.
Banks ...
Posted in Uncategorized | 1 Comment »
Sunday, May 15th, 2016
Via Bloomberg:
Earnings yield vs bond yields still flashing bullish signals
The gap is part of the dividend case on American equities
A year of profit stagnation has left the S&P 500 Index’s price-earnings ratio flirting with some of its its highest readings since the Internet bubble. Judged against bonds, though, ...
Posted in Uncategorized | Comments Off on One Metric Says Equities Ain’t Rich yet
Sunday, May 15th, 2016
Via the FT:
Implicit guarantees are ubiquitous in China, but one company went a step further when it appealed to the central bank to give an explicit reassurance to creditors that the government will not permit any default.
China City Construction Holding Group Co saw yields on its Hong Kong-traded “dim sum” ...
Posted in Uncategorized | Comments Off on Implicit and Explicit Guarantees in China
Sunday, May 15th, 2016
Via Bloomberg:
PFA is hedging against Brexit’s fallout on the Danish euro peg
Danish central bank says any bets against the peg will fail
The man overseeing about $83 billion in Danish pension savings says the threat of a British exit from the European Union is now simply too big to ...
Posted in Uncategorized | Comments Off on Hedging Brexit
Saturday, May 14th, 2016
Via the WSJ:
By Mark Magnier
Updated May 14, 2016 4:32 a.m. ET
2 COMMENTS
BEIJING—China’s industrial-production and investment data came in below expectations in April, despite Beijing’s aggressive easy-money policies in the first quarter, pointing to continued weakness in the world’s second-largest economy.
Industrial output rose 6.0% year-over-year in April, compared with 6.8% growth ...
Posted in Uncategorized | Comments Off on China Weekend Data is Weak