DIRS.INFO The most relevant business & tech news

☆ Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

They're just a few of the destinations trying to lure away the U.K.'s uber wealthy ahead of proposed changes to the country's divisive non-dom tax regime. They will also be prevented from avoiding inheritance tax on assets held in trust. The majority (83%) cited inheritance tax on their worldwide assets as their key motivator for leaving, while 65% also referenced changes to income and capital gains tax. Where the wealthy are movingIt comes as other countries are shaking up their tax regimes to incentivize wealthy investors. Ultra-wealthy U.K. citizens, who are typically highly active in the super-prime market, are also in "wait and see" mode ahead of possible changes to capital gains and inheritance tax.

Persons: Keir Starmer, Rachel Reeves, Macleod, Miller, they'll, Leslie Macleod, Helena Moyas de Forton, Moyas de Forton, Labour's, Alexander Spatari, I'm, Marcus Meijer, Mark, CNBC's, it's, James Myers, Oliver James, Myers, Knight Frank, Stuart Bailey, Knight Frank's, they're, Bailey Organizations: Old Bond, Pawel, Bank, Getty, Labour, Oxford Economics, Conservative, Investors, Britain, CNBC, Treasury, EMEA, Christie's, Estate, Henley & Partners, Monaco, London, Istock Locations: Old, Mayfair, London, United Kingdom, Monaco, Italy, Switzerland, Dubai, They're, Britain, Greece, Malta, Caribbean, Bahamas, Monte Carlo, Gibraltar, South Kensington, England

SKIP AHEAD How I picked the best treatments for dry, cracked heels | Best treatments for dry, cracked heels | What causes dry, cracked heels? Best treatments for dry, cracked heelsBelow, I compiled dermatologist-recommended moisturizing and exfoliating products to help treat dry, cracked heels year-round. Below, our experts highlight a few main causes of dry, cracked heels:Lack of moisture: The primary cause of dry, cracked heels is a lack of moisture or a damaged skin barrier, according to our experts. The primary cause of dry, cracked heels is a lack of moisture or a damaged skin barrier, according to our experts. How to treat dry, cracked heelsWhen it comes to dry heels, prevention is key.

Persons: William Huang, Samer Jaber, Nkem, shea, Aveeno, ”, Annie Chiu, Huang, Chiu, Barry Goldman, Goldman, Jaber, Slough, Duke University’s, keratosis, TikTok Organizations: NBC, Washington Square Dermatology, Derm Institute, Goldman Dermatology, Cream, Walmart, NEA, American Podiatric Medical Association, Duke, Facebook, Twitter Locations: Washington, New York City, Union, California, Eucerin, Jaber, North Redondo Beach , California

☆ Income investors can find double-digit yields at a discount with this play
▼ + stars: | 2024-05-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Enter the closed-end fund, a relative of the traditional, open-end mutual fund. Gundlach highlighted closed-end funds on CNBC's " Closing Bell " Wednesday afternoon, noting that it's "a pretty good environment for moderate risk assets." "For retail investors, closed-end funds have gone back to trading at discounts broadly, and with some leverage involved there, there's double-digit yields available without taking a ton of credit risk," he said. Searching for discounts Drivers of these closed-end fund discounts, particularly those that hold bonds, include sharp spikes in yields. The Abrdn National Municipal Income Fund (VFL) , for instance, is trading at a 15% discount to its net asset value, according to Nuveen's CEF Connect, a database of closed-end funds.

Persons: Jeffrey Gundlach, Gundlach, Eaton Vance Organizations: Income Fund, Income Trust, Fidelity Locations: Eaton Vance California

☆ BlackRock's Larry Fink says India's love for gold has done little for its economy and investors
▼ + stars: | 2024-03-27 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

India's fondness for gold has neither benefited its economy nor generated decent returns for investors, BlackRock Founder and Chairman Larry Fink said in his annual letter to shareholders of the world's largest asset manager. Nor has investing in gold helped the country's economy," Fink said. The country's central bank, the Reserve Bank of India, purchased 4.7 tons of gold in February, taking its gold reserves to an all-time high of 817 tons, according to data from World Gold Council. Kavita Chacko, research head of India at World Gold Council, however, said recent record highs in gold prices could hurt demand for the precious metal in India. Indians' love for gold aside, the country's stock markets have been one of the biggest gainers in the Asia-Pacific region with major institutional investors positive on Indian stocks that have hit record highs multiple times this year.

Persons: Larry Fink, " Fink, Fink, Kavita Chacko, Chacko, — CNBC's Lee Ying Shan Organizations: BlackRock, Reserve Bank of India, World Gold, World Gold Council Locations: India, American, Asia, Pacific

☆ A couple in their 30s who hit a net worth of over $1 million and retired early explains how they invest their money — and why they didn't max out their retirement accounts
▼ + stars: | 2024-02-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

About six months later, after doing their own research, they discovered low-cost index fund investing , a relatively low-risk and hands-off strategy that aims to match the returns of a specific market index. Putting their money to work in stock market index funds helped them reach their current net worth of just above $1 million — but it’s not their only investment. BI verified their net worth by looking at investment account screenshots and property appraisal documents. Bond market index funds“While stocks and rental real estate can generate high returns, they’re also volatile,” they write. “To smooth out the ride, we hold bonds.”Specifically, they hold the Vanguard Total Bond Market Index Fund ( BND ).

Persons: Lauren, Steven Keys, “, ” Steven, Steven, we've, it’s, ”, they’re, Keys, “ It's, Roth IRAs, Roth Organizations: Business, Vanguard, Market Index, Index, ” Employees, HSAs Locations: Gainesville , Florida, We're

☆ These new ETFs will help investors target a lucrative part of the corporate bond market
▼ + stars: | 2024-01-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

BondBloxx is set to debut three new funds on Thursday: BBB Rated 1-5 Year Corporate Bond ETF (BBBS) , BBB Rated 5-10 Year Corporate Bond ETF (BBBI) and BBB Rated 10+ Year Corporate Bond ETF (BBBL). Bonds rated BBB or an equivalent are considered the last rung of investment grade credit. Tony Kelly, co-founder of BondBloxx, said BBB credit is the "not-so-secret sauce" for active managers trying to beat credit benchmarks. Of course, economic downturns are always a concern for corporate credit. This is not unusual for corporate bond funds since banks and other financial institutions issue a lot of short-term debt, but it does suggest that the funds could have some concentration risk.

Persons: Bonds, Rick Rieder, Tony Kelly, BondBloxx, Kelly, Lauren Goodwin, Goodwin Organizations: BBB, Corporate, New York Life Investments, Reserve Locations: BondBloxx

☆ These new bond ETFs will let investors target specific parts of the corporate market
▼ + stars: | 2024-01-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A new group of bond funds aims to give investors a way to bet on specific segments of the corporate bond market, potentially creating more control in an interest rate environment that looks to be volatile in 2024. F/m Investments announced Wednesday that it will launch three corporate bond funds targeting certain times to maturity. The new suite of funds starts with three offerings: a 2-Year Investment Grade Corporate Bond ETF (ZTWO), a 3-Year Investment Grade Corporate Bond ETF (ZTRE) and a 10-Year Investment Grade Corporate Bond ETF (ZTEN). Benchmark series, which F/m launched starting in 2022 and gives investors tools to target specific maturities on the Treasury curve. Corporate bond defaults soared 80% in 2023, though most of the damage was done from lower-rated and heavily indebted companies.

Persons: Alexander Morris, Morris Organizations: Investments, Corporate, U.S, U.S . Treasury Locations: U.S

☆ Investors will soon be able to buy slices of bonds. How to decide if this is the right move for you
▼ + stars: | 2024-01-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors will be able purchase pieces of corporate bonds, Treasurys and eventually, municipal bonds. The idea is to open up opportunities to investors who don't want to spend upward of $1,000 on single corporate bonds. While retail investors can buy individual corporate bonds through brokerages, they often opt for mutual funds or exchange-traded funds, which offer baskets of diversified bond securities. The iShares Broad USD Investment Grade Corporate Bond ETF (USIG) , for instance, tracks the ICE BofA U.S. Corporate Index. For corporate bonds, he suggests looking at actively managed funds, particularly for noninvestment grade and municipal bonds.

Persons: Sam Nofzinger, Nofzinger, Chuck Failla, I'm, Tom Kaiser, Failla Organizations: Public, Corporate, ICE, Sovereign Financial Group, Brock Investment Advisors, Apple, Microsoft, BlackRock Locations: brokerages, TreasuryDirect

☆ Closed-end funds can generate income – and they’re cheap. Here’s how they might fit in your portfolio
▼ + stars: | 2023-11-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Closed-end funds offer a fixed number of shares, but they also trade publicly on exchanges. Right now, a confluence of events is resulting in some sharp discounts for closed-end funds, especially for those that hold bonds. Investors in closed-end funds have shed some of those holdings and that's resulting in sharper discounts to net asset value. Closed-end fund plays Financial advisors have called out closed-end funds holding municipal bonds as a way to add duration on the cheap. Closed-end funds offer other ways to pick up income: Paul Winter, CFP and portfolio manager at Five Seasons Financial Planning, likes funds that use buy-write strategies.

Persons: Dave Lamb, Lamb, Jeffrey Gundlach, Robert Finley, Paul Winter, BOE, Nuveen's Lamb Organizations: Treasury, Western Asset, Muni Fund, Asset Management, Five, Virtus, Strategy, BlackRock Locations: New York, York

☆ Counting the cost of contagion fears from Africa coups
▼ + stars: | 2023-09-21 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +5 min

Gabon coup leader General Brice Oligui Nguema is sworn in as interim president during his swearing-in ceremony, in Libreville, Gabon, September 4, 2023. The putsch not only sent Gabon's bonds tumbling 10%, but also hit those issued by a number of other countries including neighbouring Cameroon, as jittery investors scanned for who might be next. The apparent coup trend is adding to other major concerns deterring many investors from Africa - a wave of debt crises, tense geopolitics and an extreme vulnerability to climate change. "Nearly all markets in that region are paying some price in terms of rising cost of debt," said Sergey Dergachev, portfolio manager at Union Investment. There have been scores of coups and attempted coups in recent decades including in Thailand, Ecuador, Egypt and Turkey.

Persons: General Brice Oligui Nguema, Stringer, Sergey Dergachev, Paul Biya, Macky Sall, Denis Sassou Nguesso, Eamon Aghdasi, Fitch, Moody's, Thailand's, Ravi Bhatia, Bongo, Simon Quijano, Evans, Libby George, Marc Jones, Karin Strohecker, Emelia Sithole Organizations: REUTERS, UNDP, Union Investment, Investors, Reuters, General Assembly, Burkina, P Global, Reuters Graphics, Monetary Fund, Central, CFA, Peace, Thomson Locations: Gabon, Libreville, Africa Mali, Guinea, Africa, Cameroon, Mali, Thailand, Ecuador, Egypt, Turkey, crackdowns, Senegal, Congo Republic, New York, Niger, Burkina Faso, Kenya

☆ Exclusive: China asks banks to limit some Connect bond outflows
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Coins and banknotes of China's yuan are seen in this illustration picture taken February 24, 2022. "And it could also drive offshore yuan yields higher to support the renminbi." The southbound leg of the two-year-old Bond Connect scheme allows mainland institutional investors to purchase bonds traded in Hong Kong. Several measures have been aimed at raising the cost of shorting the yuan offshore. China's state-owned banks have taken steps to squeeze yuan this week by mopping up cash from the market, other sources told Reuters earlier this week.

Persons: Florence Lo, Ken Cheung, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Bond, People's Bank of China, Mizuho Bank, Reuters, Shanghai, Thomson Locations: SHANGHAI, BEIJING, Hong Kong, China, outflows, Beijing

☆ WM, 51, Separated, Looks to Rekindle Old Bond — With Voters
▼ + stars: | 2023-08-09 | by ( Norimitsu Onishi | More About Norimitsu Onishi | ) www.nytimes.com time to read: +1 min

In 2005, Justin Trudeau, the son of a legendary Canadian prime minister, and Sophie Grégoire, a well-known television journalist, married inside a stone church in Montreal’s wealthy, French-speaking enclave of Outremont. “I’m the luckiest woman in the world,” the bride said to a crowd of onlookers as she entered the church. Under a sunny sky, the couple drove away in a Mercedes roadster that belonged to Mr. Trudeau’s father, Pierre Trudeau, producing an iconic wedding photo. “The wedding was talked about a lot, maybe not as much as Céline Dion’s, but it was talked about,” Geneviève Tellier, a political science professor at the University of Ottawa, said, referring to the singer who is from Quebec. “It was a media event.”Over the next decade, Mr. Trudeau, with his wife and their three children, shrewdly crafted an image that became integral to his rapid ascent — that of a modern husband, father and political figure, who would go on to win votes with a mix of idealism and glamour.

Persons: Justin Trudeau, Sophie Grégoire, “, Trudeau’s, Pierre Trudeau, ” Geneviève Tellier, Trudeau, shrewdly Organizations: Canadian, University of Ottawa Locations: Montreal’s, Outremont, Quebec, “

ACCRA, June 1 (Reuters) - Ghanaian labour unions have asked the government for time to assess a proposal presented on Thursday to restructure pension funds worth around 30 billion Ghanaian cedis ($2.7 billion). The majority of eligible holders of Ghana's local bonds participated in a domestic debt exchange in February. The pension funds were exempted after unions threatened to strike, but have now been offered their own deal. Thomas Kwesi Esso, executive secretary of the lobby group for the pension funds, told Reuters that the offer was an improvement and addresses liquidity concerns with the old bonds. Editing by Alessandra Prentice, Rachel Savage and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Abraham Koomson, ”, Thomas Kwesi, ” Anthony Yaw Baah, Alessandra Prentice, Rachel Savage, Leslie Adler Organizations: International Monetary Fund, Finance Ministry, Reuters, International Monetary, Thomson Locations: ACCRA

☆ Summer is back, and so is this nostalgic beauty staple
▼ + stars: | 2023-05-28 | by ( Aj Willingham | ) edition.cnn.com time to read: +6 min

Summer is the season of Sun-In, a hair lightening spray that’s been birthing beach blondes (and beach oranges) for decades. As with all effectively marketed beauty products, Sun-In didn’t just promise lighter hair: It promised a perfect summer. “Just spray Sun-In under the sun, and see what happens,” a 1971 ad from Glamour Magazine reads. Other hair lightening sprays have come and gone, like Clairol’s Lemon Go Lightly, but Sun-In occupies a singular place in people’s hair memories. In this new lineup of summer potions, Sun-In is still the nostalgic classic.

☆ Adani Group hires banks to hold bond investor calls after market rout
▼ + stars: | 2023-02-15 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 15 (Reuters) - India's Adani Group and two of its main subsidiaries caught up in a short-selling storm in recent weeks are to hold calls with bond investors on Feb. 16 and Feb. 21, according to a document seen by Reuters. The planned calls follow a long-awaited credit report issued by the Indian conglomerate earlier this week that said its companies faced no material refinancing risk, or near-term liquidity issues. According to the document sent to investors the call on Thursday for Adani Group will be attended by its Chief Financial Officer (CFO) Jugeshinder Singh and head of Group Corporate Finance Anupam Misra. An Adani Green Energy call also on Thursday will involve its CFO Phuntsok Wangyal, and an Adani Transmission call next week will be attended by its CFO Rohit Soni and CFO of Adani Electricity Kunjal Mehta. Rating agencies S&P Global and Moody's this month revised their outlooks to negative from stable for some of the group's companies, while index provider MSCI said it would cut the weightings of some Adani companies in its stock indexes.

The BOJ’s YCC faces a reckoningThe surprise news left investors and analysts trying to parse Ueda's recent commentary. "There is probably a lack of clarity on Ueda's policy leanings at the moment, but at least it is clear that Amamiya (who is seen as a dove) is out. That removes one of the headwinds for the yen," said Christopher Wong, currency strategist at OCBC in Singapore. "The knee-jerk reaction in yen appreciation is more of a reaction to Amamiya being out of the race." I think the new team means that they will redesign the BOJ's monetary policy, not maintain the current policy," said Takayuki Miyajima, a senior economist at Sony Financial Group in Tokyo.

☆ Should you buy bonds right now? Here's what investing experts say
▼ + stars: | 2023-02-07 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Last year was an extraordinary one for the bond market, and not in a good way. Many of the factors that hurt bonds in 2022 may work toward helping their performance in 2023, experts say. Here's how the pros say to approach the 2023 bond market responsibly. How interest rates affect bond returnsOne key relationship explains why bonds did so badly in 2022: Bond prices and interest rates move in opposite directions. Should the Fed begin decreasing interest rates, long-term bonds will be the biggest beneficiaries, he says.

☆ Investors are stampeding into boring old bonds to start the year
▼ + stars: | 2023-01-21 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

Yet boring old bonds have just about kept pace, as investors rush to lock in healthy-seeming yields after one of the worst years ever for fixed-income returns. The Federal Reserve's historically aggressive tightening campaign last year gouged debt portfolios but quickly rebuilt the supply of safe yield on offer for today's buyers. I made the case for bonds' value from this perspective in a column here three months ago , just as Treasury yields were peaking. The good news is that "real yields," meaning yields above the market's implied outlook for inflation, remain positive. The American Association of Individual Investors' monthly asset allocation survey for December showed bonds at 14.3%, below the survey's long-term average of 16%.

☆ Explainer: How the BOJ's new yield-controlling tool works
▼ + stars: | 2023-01-20 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Specifically, the BOJ amended rules for an existing market operation tool, so it can pump funds extending up to 10 years in variable rates to financial institutions against collateral. While the new tool could keep bond bears at bay, there is uncertainty on how effective it would be in keeping long-term interest rates from rising. Defying bets of a policy tweak, the BOJ kept ultra-low interest rates and the 0.5% yield cap on Wednesday. It is unusual for central banks to use funds-supplying operation, typically focused on guiding short-term interest rates, to influence long-term rates. By tweaking the tool, the BOJ can enhance its control over interest rate moves and risks stifling market-driven asset pricing.

☆ Explainer: How does Japan's yield curve control work?
▼ + stars: | 2023-01-16 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

TOKYO, Jan 16 (Reuters) - The Bank of Japan's yield curve control (YCC) is under fierce market attack, as investors test the bank's commitment to capping bond yields with inflation above the BOJ's target. When the central bank had gobbled up half the bond market, it was hard to commit to buying at a set pace. YCC allowed the BOJ to buy only as much as needed to achieve its 0% yield target. The bank has tapered bond buying in times of market calm to lay the groundwork for an eventual end to ultra-easy policy. But markets may force the BOJ to relent, breaching the 10-year yield cap on Friday - before massive BOJ bond buying brought the rate back down.

☆ Credito Real in talks with bondholders as bankruptcy ruling looms
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 15 (Reuters) - Troubled Mexican non-bank lender Credito Real (CREAL.MX) is in talks with foreign bondholders, prompting creditors to delay their request for an involuntary U.S. bankruptcy hearing, according to two sources close to the matter. Credito Real collapsed after it defaulted on a 170 million Swiss franc ($176 million) bond in February, prompting bonds to shed 99% of their value. The person added that while the talks did not constitute negotiations yet, there was chance they could develop into them. Credito Real, which offered payroll lending and unsecured credit, did not respond to Reuters' request for comment. The default by Credito Real, along with AlphaCredit and Unifin (UNIFINA.MX), have made banks less willing to finance non-bank lenders, analysts say, prompting fears about the non-bank sector in Mexico.

Many rules require banks to bulk up on treasuries. Two other bankers said the executives expressed concerns over longer-term "systemic risks" due to the level of their bond holdings. Parliament, dominated by the AKP and nationalist allies, is debating next year's budget including record spending of 258.4 billion lira on social aid. VULNERABLE TO REVERSALThe series of rules increased the central bank's authority over the government debt, credit and loan markets, bankers say. Akbank's (AKBNK.IS) Q3 net profit was 17.07 billion lira versus 3.21 billion lira year ago.

Oct 18 (Reuters) - Austria raised 1 billion euros ($983.20 million) on Tuesday from the auction of the first ever green T-bill, a move aimed at attracting shorter-term investors to buy environmentally friendly assets. But with central banks and a wider group of investors interested in green investments to bolster their sustainability credentials, interest in shorter-term green debt is growing. Austria, rated AA, is the first government to issue a green T-bill - short-term government debt which usually matures in less than a year. Markus Stix, director of the Austrian Treasury, called short-term green securities the "missing link" in the green market. It was easier for Austria to shift expenditure for funding through green T-Bills, given its overall T-Bill programme was only launched in 2021 and it just started issuing green debt, the banker said.

☆ Emirates NBD sells $500 million in 5-year bonds
▼ + stars: | 2022-10-18 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

DUBAI, Oct 18 (Reuters) - Dubai's biggest bank Emirates NBD sold $500 million in five-year bonds in its first public debt sale of the year which received more than $1 billion in orders, a bank document showed on Tuesday. The bank tightened the final spread by 20 basis points to 155 bps over U.S. Treasuries for the bonds sale arranged by Abu Dhabi Commercial Bank, Barclays, Emirates NBD Capital, HSBC, SMBC and Standard Chartered Bank. The sale came as Saudi Arabia and Abu Dhabi sovereign wealth fund Mubadala also issued bonds on Tuesday. Emirates NBD, nearly 56% owned by the government's Investment Corporation of Dubai, last sold bonds in the public debt markets in May last year, raising $750 million with Additional Tier 1 bonds non-callable for six years after raising the same amount via five-year bonds in January 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yousef Saba; Editing by Clarence Fernandez and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ "60/40" portfolios are facing worst returns in 100 years: BofA
▼ + stars: | 2022-10-14 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

LONDON, Oct 14 (Reuters) - Investors with classic "60/40" portfolios are facing the worst returns this year for a century, BofA Global Research said in a note on Friday, noting that bond markets continue to see huge outflows. "2022 (is) a simple tale of "inflation shock" causing "rates shock" which in turn threatening "recession shock" & "credit event"; inflation shock ain't over," BofA said in its weekly "Flows Show" report. So-called "60/40" portfolios typically have 60% of their holdings in stocks and the remaining 40% in fixed income. BofA said annualised returns so far in 2022 on portfolios like these are the worst in the past 100 years, while those on "25/25/25/25" portfolios that hold equal portions of cash, commodities, stocks and bonds have dropped 11.9%, the worst sinced 2008. Anticipation that inflation will fall and the fact that in 2023 inflation will be expected rather than unanticipated is good news, Bofa said.

Search resuls for: "Old Bond"

25 mentions found