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A slew of recent hotter-than-expected economic data has eased recession concerns without raising fears of a September rate hike. "Further rate hikes would risk sending the economy into a hard landing," said Thomas Simons, U.S. economist at Jefferies. "Instead, the Fed can look to a strategy of maintaining current policy rates for a long time as the best way to administer restrictive monetary policy to the economy." ET, Dow e-minis were up 31 points, or 0.09%, S&P 500 e-minis were up 5.25 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.15%. Asset management firm Blackstone Inc (BX.N) and vacation rentals platform Airbnb (ABNB.O), which are set to join the S&P 500 before the bell on Monday, were down 0.5% and 0.1%, respectively.

Persons: Brendan McDermid, Blackstone, Thomas Simons, Goldman Sachs, Janus Henderson, Wells, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Micron, Deutsche Bank, Airbnb, Dow, Nasdaq, Federal Reserve, Traders, Jefferies, Morgan Asset Management, Janus Henderson Investors, Bank of England, Bank of, Dow e, Micron Technology, Blackstone Inc, L3Harris Technologies, Thomson Locations: New York City, U.S, Bank of Japan, Bengaluru

☆ Fed unlikely to raise rates in November, says Goldman Sachs
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsSept 16 (Reuters) - The Federal Reserve is unlikely to raise interest rates at its Oct. 31-Nov. 1 meeting, Goldman Sachs strategists wrote on Saturday, while also forecasting the U.S. central bank would lift its economic growth projections when policymakers gather next week. The odds for the policy rate, which is currently in the 5.25%-5.50% range, staying unchanged at the Oct. 31-Nov. 1 gathering stood at roughly 72% on Saturday, CME's data showed. Next year could see "gradual" rate cuts if inflation continues to cool, Goldman's strategists added. They also said the central bank could raise its estimates for 2023 U.S. growth to 2.1% from 1%, when policymakers update their economic projections on Wednesday, reflecting the economy's resilience.

Persons: Sarah Silbiger, Goldman Sachs, Janus Henderson, Ira Iosebashvili, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal, Morgan Asset Management, Janus Henderson Investors, Thomson Locations: Washington ,

☆ Analysis: US healthcare stocks roiled by investor tug of war over economy
▼ + stars: | 2023-09-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Many view healthcare as a defensive sector because it has constant demand and is somewhat insulated from the economy. In the latest week, investors pulled a net $1.4 billion from the sector, the biggest weekly outflow since May 2022. Overall, the healthcare sector - which ranges from health insurers like UnitedHealth to pharmaceutical companies like Pfizer to small biotechs - has received the third largest inflows of any sector year to date, BofA's data showed. This would weaken the case for loading up on healthcare stocks. Overall, healthcare sector earnings are expected to lag this year as COVID-related revenues decline 13% versus a 1.8% rise for the overall S&P 500.

Persons: Brendan McDermid, Bob Kalman, Emily Roland, Dan Lyons, Janus Henderson, you've, Lyons, Kalman, Joe Biden's, Margie Patel, Patel, David Randall, Ira Iosebashvili, Megan Davies, David Gregorio, Richard Chang Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, BofA Global Research, Pfizer, Miramar Capital, Healthcare, John Hancock Investment Management, Janus Henderson Investors, U.S, Bristol Myers Squibb, Allspring Global Investments, Thomson Locations: New York City, U.S

☆ Janus Henderson CEO Ali Dibadj gives his investment playbook for an uncertain market
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJanus Henderson CEO Ali Dibadj gives his investment playbook for an uncertain marketAli Dibadj, Janus Henderson Investors CEO, joins 'Closing Bell Overtime' to explain what a contrarian fund is and why it may be useful in the current market environment.

Persons: Janus Henderson, Ali Dibadj

☆ Europe's bumper Q2 puts global dividend payouts on track for record year
▼ + stars: | 2023-08-29 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase. At the same time, U.S. dividend growth slowed for the sixth consecutive quarter. "But the positive effect on bank margins from the end of years of ultra-low interest rates is very powerful and is driving dividend payouts". The second quarter marks a seasonal high point for Japanese dividends and payouts there rose 8.4% on an underlying basis. Its largest dividend payer, carmaker Toyota (7203.T), accounted for one third of the underlying increase with a 25% hike, despite lower profits.

Persons: Dado Ruvic, Janus Henderson, Ben Lofthouse, Lofthouse, Eli Lilly, Marc Jones, Alex Richardson Organizations: REUTERS, Companies, Global Equity, UnitedHealth Group, Intel, Blackstone, Toyota, HK, Petrobras, PETR4, Thomson Locations: Europe, Italy, Spain, Britain, Ukraine, U.S, Asia, China, Brazil, Colombia

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "It's pretty weak," said Sat Duhra, a portfolio manager at Janus Henderson who devises a macro score for countries by tracking seven factors including PMI surveys, real exchange rates, current accounts, growth estimates and liquidity. Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales. However, I think more importantly, it has fallen short of initial expectations," said Jagdeep Ghuman, a portfolio manager for U.S. asset manager Nuveen. Reporting by Tom Westbrook and Rae Wee in Singapore, Dhara Ranasinghe in London and Summer Zhen and Xie Yu in Hong Kong.

Persons: Aly, Janus Henderson, Seema Shah, Zuhair Khan, Prashant Bhayani, it's, Jagdeep Ghuman, Nuveen, Tom Westbrook, Rae Wee, Dhara, Zhen, Xie Yu, Sam Holmes Organizations: REUTERS, Rights, BHP, PMI, Global Investors, UBP Investments, Vegas Sands, Wealth Management, U.S, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, London, Bangkok, Zealand, Europe, Thailand, Asia, Japan, Singapore, Hong Kong

☆ In the Dead of Night, a Danish Commune Cracks Down on Drug Gangs
▼ + stars: | 2023-08-22 | by ( Sune Engel Rasmussen | Photographs Janus Engel For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Fleur Frilund, 27, moved into Christiania about six years ago. She was attracted to its proximity to nature and its embrace of freethinkers. “It’s a radically different way of living, compared to the big-city mentality just on the other side of the fence,” she said.

Persons: Fleur Frilund, “ Locations: Christiania

☆ The best and worst parts of being an NBC page: In the 70s, I worked with stars like Regis Philbin and Johnny Carson and was paid $1.90 an hour
▼ + stars: | 2023-08-22 | by ( Shelley Herman | ) www.businessinsider.com time to read: +9 min

I was an NBC page two weeks laterIt was 1976 and I was 20, still in college and clueless. Now in its 90th year, the NBC Page program is one of the most prestigious entry-level positions in the entertainment industry. I wish I could tell you there was one straight, surefire way to becoming an NBC page, but there isn't. My other friend Al got his NBC page job when the women who worked behind the scenes on "Wheel of Fortune" spotted him as a contestant on the show. She is the author of "My Peacock Tale: Secrets of an NBC Page."

Persons: Shelley Herman, Elvis Presley, pagedom, Janus, Jim Croce, Alice, Regis Philbin, Gene Rayburn, Chuck Barris, Peter Marshall, Neil, Al, Sandy, Johnny Carson, Pete, Julian Goodman, Chance, Hawkins, Roxanne, Don Rickles, Peter Isackson, C.P.O, Sharkey, Dinah, Johnny, Sid Caesar, Imogene, Sid, John Travolta, Diana Hyland, Jeff, Alfred Hitchcock, Hitchcock, Redd Foxx, Sanford, Son, Dick Clark, Freddie Prinze, Johnny Carson's, Harry Chapin, I've Organizations: NBC Studios, Service, Sears, Toyota, NBC Burbank, NBC, USC, Pasadena Civic Locations: Wall, Silicon, Burbank , California, Las Vegas, California, Pasadena

☆ A Famous Hippie Freetown Is Ganging Up on Drug Criminals
▼ + stars: | 2023-08-08 | by ( Sune Engel Rasmussen | Photographs Janus Engel For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/a-famous-hippie-freetown-is-ganging-up-on-drug-criminals-6f630367

Persons: Dow Jones Locations: freetown

☆ Opinion | Does Free Speech Protect Trump’s Election Lies?
▼ + stars: | 2023-08-02 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +5 min

But, Hasen argued:“Trump did not just state the false claims; he allegedly used the false claims to engage in a conspiracy to steal the election. There is no First Amendment right to use speech to subvert an election, any more than there is a First Amendment right to use speech to bribe, threaten, or intimidate.”Francesca Procaccini, a law professor at Vanderbilt, shares the view that in the contemporary political environment, there needs to be more regulation of speech. In an email, she wrote:The left is split on how to respond to misinformation precisely because the left is historically committed to free speech and also to uplifting marginalized voices. Now, many on the left have increasingly come to understand that speech itself (whether false speech or hate speech) is also detrimental to marginalized communities. It concluded that “states and public-sector unions may no longer extract agency fees (partial union dues) from nonconsenting employees.”

Persons: Hasen, Trump Will, ” Hasen, Jack Smith, Donald Trump, Trump, “ Trump, ” Francesca Procaccini, ” Procaccini, “, ”, ” Catherine MacKinnon, ” MacKinnon, misogynists, MacKinnon, Elena Kagan Organizations: “, Trump, Vanderbilt, Citizens, University of Michigan, . State, Municipal Employees Locations: “ U.S, Janus, ., County

Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. U.S. excess savings have fallen to around $500 billion from around $2.1 trillion in August 2021, the San Francisco Federal Reserve estimates. In Europe, Deutsche Bank reckons excess savings in Sweden, struggling to contain a property slump, have dwindled. Reuters GraphicsRUNNING OUTDefinitions for excess savings differ, but economists generally agree that this means savings that went beyond trend levels during the pandemic. Cardano chief economist Shweta Singh said U.S. pandemic excess savings are likely to be depleted by year-end.

Persons: Rachel Adams, Janus Henderson, Oliver Blackbourn, Shweta Singh, Guy Miller, Jamie Dimon, Ben, Eren Osman, Arbuthnot Latham, Janus Henderson's Blackbourn, U.S . Russell, Russell, Goldman Sachs, Blackbourn, Zurich's Miller, Simon Bell, Guilluame Paillat, Paillat, Naomi Rovnick, Sharon Singleton Organizations: Oxford, REUTERS, San Francisco Federal, Deutsche Bank, Reuters, Insurance Group, Ryanair, JPMorgan, Unilever, U.S ., London's, Bank of, Aviva, Thomson Locations: Britain, London, China, Europe, U.S, Sweden, United States, downturns, Australia

REUTERS/Dado Ruvic/IllustrationLONDON, July 28 (Reuters) - Corporate credit quality is weaker than financial markets currently price in, while defaults are likely to pick up in the second half of the year, a report by Janus Henderson Investors said on Friday. Tighter lending standards, higher refinancing costs and a slowing economy would take their toll on the credit quality of corporates, the report said. This suggests that defaults could pick up in the second half, even if the pace of defaults is slower than in previous cycles, it added. Additionally, a recent trend of small businesses being forced to file for bankruptcy is likely to spread more broadly into capital markets, Janus Henderson noted. "As recession fears scaled back, markets have been pricing in a more muted credit default cycle.

Persons: Dado Ruvic, Janus Henderson, Jim Cielinski, Chiara Elisei, Dhara Ranasinghe, Conor Humphries Organizations: REUTERS, Janus Henderson Investors, P Global, U.S, Casino, Thomson Locations: industrials

With its latest 25 basis point interest rate increase now in the books, the Fed has raised the benchmark overnight interest rate by 525 basis points since March 2022 to a level last seen before the 2007 housing market crash in a fight to bring down inflation. Still, some fixed income investors have remained on edge over how long the Fed can keep interest rates at restrictive levels without sparking an economic downturn. Meanwhile, Fed funds futures traders saw increased probability of another interest rate increase in September. To be sure, investors had badly overestimated the chances for recession at the beginning of this year and could be wrong again. Over the past year the unemployment rate has remained stubbornly low and growth has run consistently above trend.

Persons: Jerome Powell, Gurpreet Gill, Goldman Sachs, Powell, Kristy Akullian, It's, Adam Hetts, Janus Henderson, Mike Sanders, Blair Shwedo, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: YORK, Federal Reserve, Fed, Goldman Sachs Asset Management, Barclays, BlackRock, Investment, Treasury, Janus, Janus Henderson Investors, Madison Investments, U.S . Bank, Thomson

☆ Unilever quarterly sales beat estimates, boost shares
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File PhotoSummaryCompanies Underlying sales, price, volume growth beat forecastsPast peak cost inflation -finance chiefFocus is on volume growth -finance chiefShares jump 5%LONDON, July 25 (Reuters) - Unilever (ULVR.L) on Tuesday beat underlying sales growth forecasts after again raising prices to offset higher costs, boosting shares in the maker of Dove soap and Ben & Jerry's ice cream. The British company reported a 7.9% rise in underlying second-quarter sales, beating analysts' average forecast of 6.4%, a company-provided consensus showed. The company said it expects underlying sales growth for the full year to be above 5%, ahead of its multi-year range, with underlying price growth continuing to moderate through the year. Unilever said the percentage of its "business winning market share" had reduced to 41%. The metric assesses what percentage of the company's revenue is coming from areas in which it is gaining market share on a rolling 12-month basis.

Persons: Dado Ruvic, Hein Schumacher, Alan Jope, Jochen Kurz, Alan, Kurz, Graeme Pitkethly, Janus Henderson, Bernstein, Bruno Monteyne, Hein Schumacher’s, Richa Naidu, Jason Neely Organizations: REUTERS, Unilever, British, Kurz, Rivals, Nestle, Thomson Locations: Russia, Ukraine

Puma is likely to benefit less from the trend than Adidas because its terrace range doesn't have as much name recognition, said Adam Cochrane, analyst at Deutsche Bank. Investors will be pushing Puma and Adidas on broader strategies to navigate weak consumer demand at second-quarter results on July 26 and Aug. 3 respectively. Adidas, however, has got a big boost from selling some of its stock of discontinued Yeezy shoes. On Monday it slashed its expected 2023 operating loss to 450 million euros from 700 million euros, citing unexpectedly strong Yeezy sales. "However, the cost to compete for sportswear brands is very high, and barriers to entry are low, making retailers quite vulnerable to 'boom and bust' cycles as trends change," said Aubin.

Persons: Benoit Tessier, Adam Cochrane, it's, Robert Schramm, Fuchs, Janus Henderson, Bjorn Gulden, Edouard Aubin, Morgan Stanley, Aubin, Helen Reid, Linda Pasquini, Susan Fenton Organizations: Adidas, REUTERS, Puma, Nike U.S, Nike, Google, Deutsche Bank, Investors, Defamation, Thomson Locations: Lafayette, Paris, France, U.S, China, North America, London, Gdansk

Finance Minister Bruno Le Maire said on June 9 he had secured a pledge from 75 food companies to cut prices. French shoppers have paid more than 20% more for Nestle products each month since January versus last year, the data showed, and price increases peaked at 36.6% in May. Nestle, whose brands include Maggi stock cubes and Kit Kat chocolate bars, declined to comment. Similarly, stores sold products made by Activia yogurt owner Danone for between 11.2% and 16.7% more than last year in the first six months of the year. The NielsenIQ data shows the final prices retailers charge shoppers, and does not necessarily only reflect the prices food companies ask for from stores.

Persons: Arnd, Bruno Le Maire, Bernstein, Kat, Le Maire's, Jack Martin, Janus Henderson, Gaurav Gooptu, Richa Naidu, Sybille de La, Matt Scuffham, Sharon Singleton Organizations: Swiss, Nestle, REUTERS, Danone, Finance, Reuters, Reuters Graphics Reuters, Oberon Investments, U.S, Consumers, BNP, Thomson Locations: Bern, Konolfingen, Switzerland, France

☆ Peculiar dead white dwarf star has two faces
▼ + stars: | 2023-07-24 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers have made a first-of-its-kind discovery — a white dwarf star with two completely different faces. White dwarfs are burnt remains of dead stars. The newly discovered white dwarf has two sides, one made of hydrogen and the other made of helium. Researchers have nicknamed the star Janus, for the Roman god of transition, which has two faces. “We might have possibly caught one such white dwarf in the act.”As the white dwarf cools over time, the heavier and lighter materials may mix together.

Persons: Janus, ”, Ilaria Caiazzo, Caiazzo, Neil Gehrels, ” Caiazzo, “, K, Miller, James Fuller Organizations: CNN —, California Institute of Technology, Observatory, Gran, Canarias, Keck, Caltech Locations: Canary, Maunakea, Hawaii

☆ This global chip giant is set for an 'outsized' growth opportunity from A.I., fund manager says
▼ + stars: | 2023-07-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

One global chipmaker is set to benefit from an "outsized growth opportunity" on the back of the artificial intelligence trend, says Richard Clode, fund manager at Janus Henderson Investors. "Ultimately, when you look out in three years time, your iPhone is going to have to have a huge amount of AI capability. Clode manages the Horizon Global Technology Leaders Fund and the Horizon Sustainable Future Technologies Fund. Top holdings in his funds include chipmakers Nvidia and TSMC , payments giants Mastercard and Visa and a range of Big Tech stocks. The Horizon Global Technology Leaders Fund was up around 34% in the six months to the end of June, while the Horizon Sustainable Future Technologies Fund was 25% higher.

Persons: Richard Clode, Janus Henderson, CNBC's, Clode Organizations: Janus Henderson Investors, Taiwan Semiconductor Manufacturing Company, Horizon Global Technology, Fund, Technologies, Nvidia, Mastercard, Visa, Big Tech, Nasdaq, Global Technology

☆ Introducing Janus, the exotic 'two-faced' white dwarf star
▼ + stars: | 2023-07-21 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

But a two-faced star? Janus is fairly massive for a white dwarf, with a mass 20% larger than that of our sun compressed into an object with a diameter half that of Earth. About 97% of all stars are destined to become white dwarfs when they die," Caiazzo said. Janus may represent a white dwarf in the midst of this transitional blending process, but with the puzzling development of one side being hydrogen while the other side is helium. Janus is not the only exotic white star known.

Persons: Janus, Ilaria Caiazzo, Caiazzo, Will Dunham, Daniel Wallis Organizations: Caltech, Thomson Locations: San Diego

☆ 'They are real, they are proliferating': Tech investor names 2 internet-of-things stocks to own
▼ + stars: | 2023-07-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

But some niche plays like the Internet of Things (IoT) offer significant potential despite lower hype, according to tech investor Richard Clode. Clode, fund manager at Janus Henderson Investors, named NXP Semiconductors and Impinj as two IoT stocks he sees as long-term winners. One IoT technology he sees hitting its stride is radio frequency identification (RFID) for supply chain tracking. It was hailed in the early 2000s as a breakthrough in supply chain visibility. Their specialty chips that can transmit information wirelessly without batteries or line of sight make them ideal for supply chain applications.

Persons: Richard Clode, Janus Henderson, they've, everyone's, Clode, CNBC's Organizations: Janus Henderson Investors, NXP Semiconductors, Global Technology, Fund, Walmart, UPS

☆ CNBC Pro Talks: Fund manager reveals his top tech picks, says ‘big is beautiful’ right now
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: Fund manager reveals his top tech picks, says ‘big is beautiful’ right nowCNBC’s Will Koulouris on Wednesday quizzed Richard Clode, portfolio manager at Janus Henderson Investors, about how he invests across the Big Tech behemoths, with top holdings including Alphabet, Meta, Nvidia, Mastercard and more.

Persons: Koulouris, Richard Clode, Janus Henderson Organizations: Janus Henderson Investors, Big Tech, Nvidia, Mastercard

☆ CNBC Pro Talks: Fund manager to reveal his top tech picks, says 'big is beautiful' in the sector right now
▼ + stars: | 2023-07-18 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

From Alphabet to Meta , Richard Clode, portfolio manager at Janus Henderson Investors, is a fan of Big Tech — but his interest in the sector goes beyond the behemoths. Clode, who manages the Horizon Global Technology Leaders Fund and the Horizon Sustainable Future Technologies Fund, will reveal how he selects stocks that he judges to be underappreciated by the market. Top holdings in his funds include chipmakers Nvidia and TSMC , payments giants Mastercard and Visa and a range of Big Tech stocks. Join CNBC Pro Talks here on Wednesday, June 19, at 1:30 p.m. SGT / 6:30 a.m. BST / 1:30 a.m. Learn more from our previous Pro Talks: This U.S. biotech stock is up 90% this year and will continue to soar, fund manager says Aging populations are creating major opportunities, fund manager says.

Persons: Richard Clode, Janus Henderson, Koulouris, Clode, Goldman Sachs Organizations: Janus Henderson Investors, Big Tech, Horizon Global Technology, Fund, Technologies Fund, Nvidia, Mastercard, Visa, Nasdaq, Global Technology, Technologies, Moore, Pioneer Investments, Pro, UBS Locations: Gartmore

With the second half of the year now underway, investors may want to take another look at their fixed income portfolio. High yields have been a boon to income investors, as the Federal Reserve increased interest rates over the past year. "For more of our clients, we're looking to have the fixed income of the portfolio provide lower correlation and income," he said. Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors, generally prefers securitized assets such as asset-backed and mortgage-backed securities. "You can't think of high yield bonds in the same thought as Treasurys," said Cox of eToro.

Persons: James Franke, Sonal Desai, She's, We're, It's, Desai, Franke, Rothschild, Callie Cox, Greg Wilensky, Janus Henderson, Cox Organizations: Federal Reserve, Treasury, Rothschild Investment, Franklin, Janus, Janus Henderson Investors Locations: Treasurys, U.S, eToro

Consumer goods makers say the price hikes are necessary, and that they have taken a hit to margins over the past two years. Some companies such as Clorox (CLX.N) have even begun to ease off the hikes to protect sales volumes as input costs fall. "In the U.S. in particular, these pressures are more acute than in Europe," Janus Henderson portfolio manager Luke Newman told Reuters. U.S. consumer strength has begun weakening, "and that's bad news for the consumer companies," Barclays analyst Iain Simpson said. Still, cost inflation has chipped away at margins, which have broadly fallen 2-4 percentage points over the past two years for the consumer goods industry.

Persons: Janus Henderson, Luke Newman, Newman, Richard Marwood, Robert Klaber, Parnassus, Iain Simpson, Alvarez, Marsal, David Chavern, Stephanie Niven, Niven, Irene Jensen, Jensen, Thomas Joekel, Richa Naidu, Jessica DiNapoli, Matt Scuffham, Deepa Babington Organizations: U.S, Consumer, Reuters, Royal London Asset Management, Investments, Biden, Barclays, Procter, Gamble, Consumer Brands Association, Sustainable Equity Fund, Norges Bank Investment Management, Unilever, Reckitt, Investment, Thomson Locations: Ukraine, U.S, Europe, San Francisco, United States

LONDON, July 12 (Reuters) - Companies around the globe took on a record $456 billion of net new debt in 2022/23, although higher interest rates should reduce appetite for new borrowing ahead, Janus Henderson said in a report published on Wednesday. The net new debt taken on in 2022/23 pushed outstanding net debt up by 6.2% on a constant-currency basis to $7.80 trillion, surpassing a previous peak in 2020/21, at the height of the COVID pandemic, Janus Henderson's annual corporate debt index showed. One fifth of the net-debt increase reflected companies such as Alphabet and Meta (META.O), which owns Facebook and Instagram, spending some of their "vast cash mountains", Janus Henderson said. Higher interest rates were also expected to dampen appetite for further corporate borrowing and Janus Henderson said it expected net debt to decline by 1.9% in 2023/2024, falling to $7.65 trillion on a constant-currency basis. "The increase in interest rates will feed through into the weaker cohort of credit quality much quicker than in investment grade (bonds)," Briggs said.

Persons: Janus Henderson, Janus, James Briggs, Briggs, We're, Chiara Elisei, Dhara Ranasinghe, Sharon Singleton Organizations: Companies, Verizon, Thomson Locations: U.S, Europe

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