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☆ Credit Suisse rights sell-off spells worst year for its shares
▼ + stars: | 2022-11-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +3 min

Shares in Credit Suisse (CSGN.S) fell 3.1% to 2.915 francs by 1451 GMT, their lowest level on record according to Refinitiv data, as the rights tumbled as much as 29.9% to as low as 0.101 on their second day of trading in Zurich. That took losses for Credit Suisse shares in 2022 to more than 65%, further shrinking its market value to 12 billion francs and firmly setting the stock for its biggest yearly drop. "The problem now for Credit Suisse is to plug the outflows of staff and client assets: the damage is done and there will be an impact for sure," said Angelo Meda, head of equities and portfolio manager at Banor SIM in Milan. Credit Suisse declined to comment. snapshotThe offering, which is guaranteed by a group of banks, will raise as much as 2.24 billion Swiss francs ($2.3 billion) and follows a 1.76 billion-franc share placement where Saudi National Bank took a 9.9% shareholding in Credit Suisse.

☆ US stocks fall as comments from Fed officials dash hopes for a pivot on rate hikes
▼ + stars: | 2022-11-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Fed officials Esther George and James Bullard separately indicated the Fed is still on course for more rate hikes. Stocks came under pressure with Treasury yields rising. Equities lost ground as Treasury yields scaled higher. The Fed in 2022 has jacked up the fed funds rate from 0% to a range of 3.75%-4%, including four consecutive, hefty hikes of 75 basis points. Along with viewpoints voiced by Fed officials, investors weighed quarterly results and economic data.

☆ Politics and your portfolio: Midterm elections create uncertainty for markets
▼ + stars: | 2022-10-31 | by ( Stephanie Dhue | ) www.cnbc.com time to read: +3 min

Voters file down the hall as early voting begins for the midterm elections at the Citizens Service Center in Columbus, Georgia, on Oct. 17, 2022. So with the midterm elections now a week away but the outcome still not in focus, does it make sense to make those adjustments now? Financial advisors say it's best to adjust your portfolio based on your financial goals and not on the outcome of any event. The market has a 'very distinct' midterms patternHistorically, stocks tend to do better after midterm elections. In 17 of the 19 midterm elections held since 1946, stocks performed better in the six months after the election than they did in the six months prior.

☆ Why this could be the best opportunity in years to buy investment grade corporate bonds
▼ + stars: | 2022-10-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

The Bloomberg Corporate Index , which measures the investment grade corporate bond market, has lost 19.97% year to date, as of Tuesday's close, while the S & P 500 is down 19.03%. Many believe that's created an opportunity to move into investment-grade corporate bonds. Investors can buy corporate bonds in $1,000 increments or through a diversified exchange traded fund. Investing in a fund One way to get exposure to the corporate bond market is through an ETF, such as the iShares iBoxx $ Investment Grade Corporate Bond ETF . Corporate investment grade debt funds have seen $139.7 billion in outflows so far this year, according Refinitiv Lipper.

☆ Stocks could continue to break higher as Apple, big tech report earnings in week ahead
▼ + stars: | 2022-10-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The three major averages closed higher Friday, with the S & P 500 adding 2.37% to close at 3,752.75. Stovall said the S & P 500 had six positive moves of 1% or more in the last 17 trading days, as of Friday. Earnings, earnings, earnings About 150 S & P 500 companies report earnings in the coming week. Technically speaking Scott Redler, partner with T3Live.com, said he is watching a formation in the S & P 500 that could be positive. His first target for the S & P 500 is 3,800.

By late on Wednesday six banks, including global coordinators Bank of America (BAC.N), Citigroup (C.N), Credit Suisse (CSGN.S) and Mediobanca (MDBI.MI), had signed the guarantee contract, the sources said. Five years after an 8.2 billion euro ($8 billion) bailout that handed the state its 64% stake, MPS plans to raise the extra cash to lay off staff and bolster capital. The eight banks due to underwrite the MPS issue are willing to backstop only a third of the 900 million euro private portion of the capital raising, one of the sources said. MPS CEO Luigi Lovaglio had until recently not produced the written commitments, triggering a race in the last few days to get all the necessary documents signed. The Tuscan bank has so far secured support from its insurance partner AXA (AXAF.PA), local banking foundations and asset manager Anima Holding (ANIM.MI).

Five years after an 8.2 billion euro ($8 billion) bailout that handed the state its 64% stake, MPS plans to raise the extra cash to lay off staff and bolster capital. They have demanded written commitments from investors for an amount roughly equivalent to half the overall figure, accepting pledges which are not in writing for the rest to get to two thirds of the total, the source added. MPS CEO Luigi Lovaglio had until recently not produced the written commitments, triggering a race in the last few days to get all the necessary documents signed. MPS and the banks expect to be able to get to a deal on the underwriting contract later on Wednesday, although sources had previously not ruled out preparations taking until Thursday. A January 2030 bond yielded 41.42% after spiking to 45.44% from 39.95% at closing on Tuesday.

☆ Credit Suisse debt insurance costs rise, bonds ease after tax probe report
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 12 (Reuters) - The cost of insuring the debt of Credit Suisse (CSGN.S) against default rose on Wednesday, while its bonds and shares fell, after reports that the Swiss lender may be the subject of a U.S. tax investigation. Credit default swaps, an instrument that will pay its holder in the event of an issuer defaulting, rose to 337 basis points (bps) from 323 bps, according to S&P Global Market Intelligence. The U.S. Justice Department is investigating whether Credit Suisse continued helping U.S. clients hide assets from authorities, eight years after the Swiss bank paid a $2.6-billion tax evasion settlement, Bloomberg News reported on Tuesday. read moreCredit Suisse's additional tier 1 dollar-denominated bonds fell by as much as 0.7 cents to 90.259 cents, while its euro-denominated bonds dropped 0.75 cents to 73.30, according to Tradeweb data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Amanda Cooper; Editing by Karin StroheckerOur Standards: The Thomson Reuters Trust Principles.

☆ New Pakistan finance minister vows to tame inflation and cut interest rates
▼ + stars: | 2022-09-28 | by ( Asif Shahzad | ) www.reuters.com time to read: +5 min

Pakistan's likely new Finance Minister Ishaq Dar walks upon his arrival at the Nur Khan military airbase in Chaklala, Rawalpindi, Pakistan September 26, 2022. "We will control inflation," Dar told reporters in televised comments after he was sworn in. Register now for FREE unlimited access to Reuters.com Register"We will bring interest rates down," he said. WRECKED ECONOMYDar, a senior politician in the ruling party of Prime Minister Shehbaz Sharif, flew to Islamabad on Monday night after ending five years in self-exile in London. "I wasn't able to travel for the last four years," he added, describing the legal action against him as political victimisation by the previous government of Prime Minister Imran Khan.

☆ Breakingviews: BoE’s bond-buying U-turn is worth the risk
▼ + stars: | 2022-09-28 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The fallout makes it even harder for Governor Andrew Bailey to convince markets he can tighten monetary policy. His decision on Wednesday to buy UK government debt and delay plans to sell down its 857 billion pound ($915 billion) bond portfolio carries big risks. Bailey’s goal is to cut holdings by 80 billion pounds over the next year. UBS analysts reckon issuance of gilts, after factoring in sales and redemptions from QT, will reach 355 billion pounds in the year ending March 2024. If Bailey can now tighten monetary policy without freaking out investors, his U-turn will have been worth the risk.

☆ Fed rate hikes have made some corporate bonds very attractive. How to profit from it
▼ + stars: | 2022-09-27 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

As stocks sink and interest rates rise, investors are getting more excited about corporate bonds than they've been in a generation. One side effect of Federal Reserve tightening policy is it has made interest rates go up everywhere — including in the corporate bond market. The way we choose to access corporate bonds is through a highly diversified low cost index fund and part of the reason for that is when it comes to corporate bonds, there's more difficulty with them than with government bonds," he said. Playing through funds A fund that tracks short-term corporates is the SPSB, SPDR Portfolio Short Term Corporate Bond ETF . There is also the Vanguard Short-Term Corporate Bond ETF VCSH , which tracks a corporate bond index, is off 8.5% this year.

☆ Financial markets don't like the U.K. stimulus plan because they fear inflation above all else now
▼ + stars: | 2022-09-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The U.K. has unveiled a large stimulus program, the biggest tax cut in half a century and will pay for it by substantially raising the debt level. Wait, don't markets love stimulus programs? Stimulus programs might even be welcomed for stoking some inflation in those circumstances. The stimulus program and the attendant need to borrow was immediately seen as inflationary, hardly what the market wants to hear. If stimulus programs are no longer greeted as a positive, what can they do to help out weak economies?

☆ U.S. Treasury Yields Steady Ahead of Fed Decision
▼ + stars: | 2022-09-21 | by ( Sam Goldfarb | ) www.wsj.com time to read: 1 min

Most investors expect the Federal Reserve to approve its third consecutive interest-rate increase of 0.75 percentage point Wednesday. The relentless selling in U.S. Treasurys took a pause Wednesday, with bond prices edging higher ahead of the Federal Reserve’s latest interest-rate decision. In recent trading, the yield on the benchmark 10-year U.S. Treasury note was 3.532%, according to Tradeweb, compared with 3.571% Tuesday, its highest close since March 2011.

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