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☆ Women's sport valuations offer opportunities with low-level entry costs: S&P Global's Serino
▼ + stars: | 2024-07-26 | 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 EmailWomen's sport valuations offer opportunities with low-level entry costs: S&P Global's SerinoNicole Serino, Director of Credit Research & Insights at S&P Global Ratings, joins 'Money Movers' to discuss the size of the economic opportunity in hosting the Olympics, the value of women's league franchises, and much more.

Persons: Global's, Nicole Serino Organizations: Credit Research

☆ JPMorgan says India has an 'improving credit story'
▼ + stars: | 2024-06-11 | 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 EmailJPMorgan says India has an 'improving credit story'Soo Chong Lim, head of Asia credit research at JPMorgan, says it's "generally quite constructive on India's macro story."

Persons: Chong Lim Organizations: JPMorgan Locations: India, Asia

☆ We've probably seen the worst of bond market volatility, Pimco says
▼ + stars: | 2024-05-23 | 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 EmailWe've probably seen the worst of bond market volatility, Pimco saysChristian Stracke, president and global head of credit research at Pimco, says the 10-year Treasury will likely be "in a range."

Persons: Pimco, Christian Stracke Organizations: Treasury

☆ Active bond funds outperformed their passive peers in 2023, Morningstar says. These are top performers
▼ + stars: | 2024-03-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Overall, actively managed mutual funds and exchange-traded funds fell short of passive funds, with 47% of active strategies surviving and beating their index-following peers, according to Morningstar. However, actively managed funds outperformed in the bond category. About 53% of active bond managers survived and beat the passive average in 2023, up from 30% in 2022, the research firm said in a recent report . Intermediate core bond funds largely invest in investment-grade debt, spanning from government issues to corporates. Core bond funds have also held up in recessions, thanks to their diversification across fixed income and duration.

Persons: Morningstar, Paul Olmsted, Olmsted, Olmstead, It's Organizations: Morningstar, Vanguard, Bond Market, Aggregate Bond, Intermediate Bond Fund

☆ U.S. Treasury yield curve will likely continue to steepen, analyst says
▼ + stars: | 2023-11-10 | 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 EmailU.S. Treasury yield curve will likely continue to steepen, analyst saysGuy Stear, head of emerging markets and credit research Société Générale, weighs in on the outlook for bond markets.

Persons: Guy Stear, Société Organizations: U.S, Treasury

With the economy slowing and adding fewer jobs, banks are anticipating more consumers could default on credit-card payments and mortgages, hurting profits. "(Canadian banks) are running a little bit tighter in capital than they have in the past," said Adrienne Young, director of corporate credit research at Franklin Templeton Canada. "I don't see them having to go out and raise equity... I think the banks will use other tools in their toolbox before having to go and raise equity," said Maria Gabriella Khoury, analyst at credit-ratings agency Fitch. "They are doing that.. to make sure banks are holding more capital as we potentially head into a downturn," Colangelo said.

Persons: Banks, Adrienne Young, Maria Gabriella Khoury, Fitch, Robert Colangelo, Colangelo, Anthony Visano, Nivedita Balu, Rod Nickel Organizations: TORONTO, Franklin Templeton, " Bank of Nova, Scotiabank, BMO, Equity, DSB, Royal Bank of Canada, RBC, HSBC Canada, Kingwest, Thomson Locations: Franklin Templeton Canada, " Bank of Nova Scotia, U.S, Toronto

☆ What went wrong with WeWork – and what's going to happen to your WeWork office
▼ + stars: | 2023-11-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +7 min

WeWork filed for Chapter 11 bankruptcy protection on Monday. AdvertisementAdvertisementWeWork, the company synonymous with coworking that was once valued at $47 billion, filed for Chapter 11 bankruptcy on Monday night. The main thing to note about WeWork's bankruptcy filing is it's Chapter 11, rather than Chapter 7 which would involve liquidation. AdvertisementAdvertisement"They need to raise capital, and they need to rightsize their real estate portfolio — negotiating more favorable lease terms, rejecting lease terms," said Sarah Foss, global head of legal at Debtwire. It will depend on how profitable each lease is, and what renegotiating terms WeWork is offered by landlords.

Persons: WeWork, —, Adam Neumann, Tim Hynes, David Tolley, Sarah Foss, Foss, Hynes, X0GgcZMUHO, Chris Person, it's, There's, there's Organizations: Service, Colliers Locations: Manhattan

☆ Moody's quarterly profit beats estimates on robust demand
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside the Moody's Corporation headquarters in Manhattan, New York, U.S., November 12, 2021/File Photo Acquire Licensing RightsOct 25 (Reuters) - Ratings agency Moody's (MCO.N) reported higher-than-expected profit in the third quarter on Wednesday, helped by strong demand for its research and analytics. The New York-based company saw robust demand for its data and insights, including CreditView, its flagship credit research product. Lesser economic uncertainty compared to last year also helped a rebound in debt issuance, further boosting Moody's business. The company reported adjusted profit of $2.43 per share for the three months ended Sept. 30, compared with analysts' average estimate of $2.30 per share, according to LSEG data. Moody's kept its full-year adjusted profit forecast unchanged at $9.75 to $10.25 per share.

Persons: Rob Fauber, Moody's, Niket, Shilpi Majumdar Organizations: Moody's Corporation, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

☆ Get tax-exempt income on the cheap as bond shake-up hits munis
▼ + stars: | 2023-10-12 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Tax-exempt income and relative safety are on sale for investors who are sniffing around municipal bonds. Tax-exempt income Interest income from municipal bonds is exempt from federal income tax — and can avoid state and local levies, too, if an investor and the bond issuer are in the same jurisdiction. This feature makes munis especially attractive to high-income investors in the 32% marginal federal income tax bracket and higher. Investors weighing a tax-exempt municipal bond against a corporate bond would do well to check out the tax equivalent yield. Schwab's Howard noted that the 5- to 7-year part of the municipal bond curve is favorable.

Persons: MUB, Nathan Will, Will, it's, Cooper Howard, Schwab's Howard, Shannon Saccocia Organizations: Federal Reserve, Muni Bond ETF, Vanguard, AAA, Bond, ., New York Life Investments, Schwab Center, Financial Research Locations: munis, muni

☆ Government bonds are in a rout worldwide. Here's why you should care
▼ + stars: | 2023-10-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

When official interest rates rise, so do investors’ expectations for returns on bonds, known as yields. In the United Kingdom, the yield on 30-year bonds also reached 5% this week, the highest level in more than two decades. Yields on Italy’s 10-year bonds hit 5% on Wednesday, the highest level since 2012, when that crisis was in full swing. Mortgage rates riseThe yields on local government bonds are usually used by banks to price mortgages. High official interest rates in America and Europe have also raised the cost of borrowing for businesses.

Persons: Saul Loeb, Liz Truss, —, Matt Cardy, Freddie Mac, Andrew Sheets, Morgan Stanley, Stocks, ” Russ Mould, AJ Bell, we’ve, ”, “, That’s, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, US Treasury Department, Getty, UK, CNN, Nasdaq, Federal Reserve, BlackRock, Hargreaves Locations: Washington ,, United Kingdom, Bath, England, United States, Europe, America

☆ Income investors go back to school. These munis offer an opportunity as property values rise
▼ + stars: | 2023-09-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Local municipal general obligation bonds help fund operations or specific projects. Right now, yields for local general obligation munis are historically attractive at about 3.7%, said Cooper Howard, fixed income strategist for the Schwab Center for Financial Research. In general, the credit quality of local general obligation munis are pretty solid, said Richard Schwam, a municipal credit research analyst at AllianceBernstein. "There are so many general obligation bonds in the country that you can stay away from anything too tiny. Weinberg also recommended diversifying with multiple states, but cautioned that buying a bond outside of your state means you'll likely be subject to state income tax.

Persons: It's, Cooper Howard, Howard, Richard Schwam, Schwam, Schwab's Howard, bode, Ian Weinberg, Weinberg Organizations: Schwab Center, Financial Research, AAA, San, Family Wealth, Pension Management, Schwab's Municipal, Bond Locations: California, New York, San Francisco

REUTERS/Florence Lo/Illustration Acquire Licensing RightsSept 5 (Reuters) - A post Labor-day rush of bond issuance by U.S. investment-grade-rated companies added renewed pressure on long-end U.S. Treasuries, as some investors switch to buying top-rated corporate debt offering higher yields than those on government bonds. Investors told Reuters they expect anywhere between $100 billion and $150 billion in new bond issuance this month. Ten-year Treasury bond yields were last about nine basis points above Friday's market closing, at 4.27% from 4.180%, and 30-year yields similarly climbed about 9 bps to 4.38% from 4.285% on Friday. Other factors have also contributed to the selloff, from higher government bond supply to rising concerns around U.S. debt sustainability, as highlighted by Fitch’s downgrade of U.S. debt last month. "For right now, it’s just all about supply, and I think that’s what’s pushing yields higher," he said.

Persons: Florence Lo, Gennadiy Goldberg, Tom di Galoma, it’s, Philip Morris, Matt Tracy, Davide Barbuscia Organizations: REUTERS, Labor, Financing, Investors, Reuters, Fed, ICE, TD Securities USA, Federal Reserve, JPMorgan Chase, Tuesday's, Unilever Capital Corp, Philip Morris International, Volkswagen, Thomson Locations: U.S

☆ Nokia profit misses forecast, expects stronger second half
▼ + stars: | 2023-04-20 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

However, it kept its full-year outlook unchanged and said it expects profitability in the second half of the year to be stronger than the first half. First-quarter comparable operating profit fell to 479 million euros ($524.94 million) from 583 million euros last year, missing the 532.4 million euro forecast of analysts polled by Refinitiv. Net sales grew 10% in the quarter to 5.86 billion euros, beating estimates of 5.72 billion euros, Nokia said. Lundmark expects some recovery in the North American market in the second half of the year. Comparable operating margin fell to 8.2% from 10.9%.

☆ Credit Suisse crisis: Not much risk of contagion in the regulated banking sector, says S&P
▼ + stars: | 2023-03-30 | 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 EmailCredit Suisse crisis: Not much risk of contagion in the regulated banking sector, says S&PPaul Watters, head of corporate credit research at S&P Global Ratings, discusses the Credit Suisse crisis and the European banking system.

☆ The best fixed income deals for investors as interest rates surge higher
▼ + stars: | 2023-02-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors searching for income were buoyed by the move higher in the 10-year Treasury yield, but there are also some other opportunities to bring in some cash. "They can blend A with AA and AAA and you can get better yields," Weinberg explained. In fact, a good signal to buy munis is when their yields are at least 85% of corresponding Treasury yields, he said. Investors can also buy municipal bond funds to get exposure to the market. Investors can also get exposure through a diversified exchange traded fund, such as the iShares iBoxx $ Investment Grade Corporate Bond ETF .

☆ Fed Rate Policy Is Shaking Up the World of Muni Debt
▼ + stars: | 2023-02-24 | by ( Heather Gillers | ) www.wsj.com time to read: 1 min

Concerns that the Federal Reserve will continue to increase rates have affected municipal fund inflows. The markets’ bumpy start to 2023 is causing whiplash even in the historically placid realm of state and local government debt. Municipal bonds this month have erased nearly all of their January gains after fears of rate increases cooled investor appetites. “It has been a roller coaster,” said Nathan Will , head of municipal credit research at Vanguard Group.

☆ Japan Inc strives to lure skilled workers as inflation, labour crunch bite
▼ + stars: | 2023-01-30 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +7 min

[1/2] A worker assembles an air drill at the factory of manufacturer Katsui Kogyo in Higashiosaka, Japan June 23, 2022. About a quarter of Japanese firms have offered inflation allowances or plan to do so, said corporate credit research firm Teikoku Databank. read moreThe private sector expects the drive to help boost productivity, meshing with Prime Minister Fumio Kishida's "new capitalism" initiative on wealth distribution that put a top priority on wage hikes. "Bonuses or inflation allowances would have only a limited impact on easing the pain of cost-push inflation, as consumers tend to save one-off payouts rather than spend," added Kiuchi, now an executive economist at the Nomura Research Institute. Workers have high expectations from this year's labour talks, which they hope will counter cost-push inflation while tackling the tight labour market to help boost the economy.

☆ China developers' debt risks persist after support policies' slow start
▼ + stars: | 2023-01-17 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The next few months could therefore find more developers starting to miss offshore debt obligations, while many developers that have already defaulted will continue struggling to pin down a restructuring plan for viable long-term repayments. This year, Chinese developers' maturing offshore debt will total $141 billion, up from $120.7 billion in 2022, Refinitiv data showed. Since November, it has completed two rounds of share placements in Hong Kong, raising HK$8.6 billion ($1.10 billion). An executive at a developer that has defaulted on offshore debt said the company would speed up its debt restructuring process this year as onshore banks have offered to extend new loans once a revamp is complete. ($1 = 7.8194 Hong Kong dollars, 6.7810 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Sumeet Chatterjee and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Ericsson makes $220 mln Iraq provision over US probe, shares rise
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, Jan 12 (Reuters) - Ericsson (ERICb.ST) said on Thursday it would book a 2.3 billion Swedish crown ($220 million) provision for an expected fine from the U.S. justice department over the company's handling of an earlier settlement related to its operations in Iraq. Ericsson had in 2019 settled bribery allegations with U.S. authorities and agreed to be under review for three years. But it failed to fully disclose results of an internal investigation about potential payments to the Islamic State militant group in Iraq, leading to more regulatory scrutiny. "The provision is significantly below both our and S&P's base case of about 10 billion SEK," he said. ($1 = 10.4692 Swedish crowns)Reporting by Anna Ringstrom, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Ericsson's Cloud Software and Services unit books $76 mln charge
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, Jan 4 (Reuters) - Ericsson (ERICb.ST) on Wednesday announced a 800 million crown ($76 million) fourth-quarter charge linked to dropping some contracts and products at its loss-making Cloud Software and Services business. Its cash flow would take a 700 million crown hit from the action, mainly in 2023, it added. Shares in Ericsson, which is due to report fourth-quarter earnings on Jan. 20, were up 1.2% at 1259 GMT. "That said, we still view Ericsson as a strong trade for 2023." ($1 = 10.5121 Swedish crowns)Reporting by Anna Ringstrom and Supantha Mukherjee, editing by Terje Solsvik and John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Pimco's co-head of special situations Harin de Silva has taken a personal leave
▼ + stars: | 2022-11-16 | by ( Danielle Walker | ) www.businessinsider.com time to read: +2 min

Harin de Silva is on the small investment committee for Pimco's Private income Fund, which includes Group CIO Dan Ivascyn. Core Strategies, also recently took a personal leave of absence from the firm. Pimco's co-head of special situations, Harin de Silva, has taken a personal leave of absence from the firm, a company spokesperson confirmed Wednesday. De Silva is co-head of special situations with executive vice president Kristofer Kraus, who is a portfolio manager on the speciality finance team. During de Silva's leave, Pimco has placed portfolio manager Kristofer Kraus, who is on the speciality finance team, on the PIF investment committee.

☆ Analysis: Twitter's 'massive' revenue drop adds to heavy debt burden
▼ + stars: | 2022-11-07 | by ( Matt Tracy | ) www.reuters.com time to read: +4 min

loadingYet even before this upheaval, Musk had engineered an acquisition that pushed the San Francisco-based company's finances to the edge. It's not clear how much of the $5.29 billion debt Twitter had before the acquisition was refinanced or remained with the company. Debt investors and analysts said Musk needs to ensure the company is profitable enough to meet its debt payments or it will require a cash infusion. If he can generate enough revenue to diversify Twitter's profits without alienating users, that would be a boon, credit analysts said. BRAND ADVERTISINGIn their note, S&P analysts also said that an expected economic recession would weigh on Twitter's advertising revenue next year.

☆ $14 billion Schonfeld is launching a new credit unit as the hedge fund continues its growth tear
▼ + stars: | 2022-10-28 | by ( Alyson Velati | ) www.businessinsider.com time to read: +3 min

$14 billion Schonfeld Strategic Advisors has rolled out a credit unit within its new macro trading business that launched earlier this year. Silverman and Aubrey joined in July and August, respectively, following Anchorage shutting its $7.4 billion hedge fund last December. The expanding credit business is part of Schonfeld's recent growth tear. In January, the firm is rolling out long/short credit strategies across the credit quality spectrum in the US and plans to add APAC and EMEA strategies over time. The HFRI Asset Weighted Index gained 1.1% for September, increasing the year-to-date return to 3.8%, according to Hedge Fund Research data.

☆ S&P Global Ratings: UK consumer linked sectors particularly vulnerable during 'critical winter'
▼ + stars: | 2022-10-20 | 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 EmailS&P Global Ratings: UK consumer linked sectors particularly vulnerable during 'critical winter'Paul Watters, head of EMEA credit research at S&P Global Ratings, discusses the impact of the government's fiscal measures on U.K. corporates.

☆ 2-year Treasury reaches a fresh 15-year high
▼ + stars: | 2022-09-26 | 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 Email2-year Treasury reaches a fresh 15-year highLotfi Karoui, chief credit strategist and head of the credit research group at Goldman Sachs, joins 'Squawk on the Street' to discuss what 2-year Treasury reaching a fresh 15-year high means for the market.

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