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Search resuls for: "Davide Barbuscia Saeed Azhar"


3 mentions found


☆ Analysis: Why a US debt deal may only provide short-term relief for markets
  + stars: | 2023-05-28 | by ( Shankar Ramakrishnan Davide Barbuscia Saeed Azhar Laura Matthews | Shankar Ramakrishnan | Davide Barbuscia | ) www.reuters.com   time to read: +5 min
May 28 (Reuters) - Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. "That's where the debt ceiling matters." In that case, "the impact on broader financial markets would likely be relatively muted," Daniel Krieter, director of fixed income strategy, BMO Capital Markets, said in a report. Some bankers said they fear financial markets may not have accounted for the risk of a liquidity drain from banks' reserves. Bankers put it to hope that the debt ceiling impasse would be resolved without significant dislocation to markets, but warn that's a risky strategy.
☆ Goldman Sachs sees risk of 'permanent destruction' in demand for AT1 bonds
  + stars: | 2023-03-20 | by ( Davide Barbuscia Saeed Azhar | Davide Barbuscia | Saeed Azhar | ) www.reuters.com   time to read: +2 min
Some $17 billion worth of AT1 Credit Suisse bonds will be written down to zero on the orders of the Swiss regulator as part of a rescue merger with UBS (UBSG.S). Under the deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in terms of who gets paid when a bank or company collapses, will receive $3.23 billion. AT1 bonds issued by other European banks fell sharply on Monday as the treatment of Credit Suisse AT1 bondholders highlighted the risks of investing in this type of debt. AT1 bonds act as shock absorbers if a bank's capital levels fall below a certain threshold. Meanwhile, law firm Quinn Emanuel Urquhart & Sullivan said it was talking to a number of Credit Suisse AT1 holders about possible legal action.
☆ Analysis: Looming U.S. default risk prompts investors to cut some debt exposure
  + stars: | 2023-02-21 | by ( Davide Barbuscia Saeed Azhar | Davide Barbuscia | Saeed Azhar | ) www.reuters.com   time to read: +4 min
The U.S. Treasury hit its $31.4 trillion borrowing limit last month. Investors need to actively manage their positions during a prolonged turbulent period in which borrowing negotiations could disrupt markets, Shah said. The Treasury bills yield curve indicates investors are demanding higher returns to hold debt due in August, signaling that it is perceived to be riskier than other maturities. Bid yields of Treasury billsStandoffs over the debt limit in the last decade have largely been resolved without causing major financial turmoil. Bond investors are navigating uncertainty around what they're calling the X-date, when the government can no longer meet its payments.
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