Hints and tips:
Related Special Reports
...US Federal Reserve chair Jay Powell this month hinted that the central bank would move slowly. US bond yields, anticipating problems, have risen this year....
...As you can see at right, bank credit is still restricted, but spreads don’t care....
...Slok: In some cases triple C, even single B credit looks more vulnerable, because those are the firms that are more vulnerable to higher interest rates....
...That’s five or six rate cuts, assuming the bank goes 25 basis points at a time. Is the market too giddy?...
...There will also be monetary policy meeting minutes from the European Central Bank and the US Federal Reserve, as well as plenty more central bank speakers....
...Chart of the day The S&P 500 rose 3.1 per cent in July after closing up 0.2 per cent yesterday at 4,588.96....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...One more thing: We are launching a new central banks newsletter for premium subscribers....
...He adds that the US Federal Reserve has had success in taming wage inflation, which is proving to be a new tailwind for profit margins....
...Weakest links pertain to companies rated “B minus” and lower with negative outlooks....
...(Bank of America also lent them money for the planes, but as you’d expect from a bank, it demanded interest payments and security over the jets.) Well, we have an update....
...Department of Justice “to attend to the interests of the United States” by “argu[ing] any case in a court of the United States in which the United States is interested.” 28 U.S.C. §§ 517, 518....
...Also, investors might want to think carefully before owning small-cap banks right now, and they make up 7 per cent of the Russell but only 3 per cent of the S&P....
...Under PAC 1, launched by Lula in 2007, only a quarter of projects were effectively delivered, according to analysis by consultancy Inter B....
...Russia said its 300,000 b/d export reduction would also stay in place until December....
...Their key role was highlighted by rating agency Fitch, when it downgraded the US federal government this month....
...There is still demand for lower-quality single-B loans, said Drew Sweeney, a loan portfolio manager at asset manager TCW, referring to the rating just above triple-C....
...Just take a look at Bank of America’s latest fund manager survey for August....
...There is empirical evidence that uninsured depositors flee banks that run into trouble and insured depositors do not (see here and here for evidence from the S&L crisis)....
...From Bloomberg on Tuesday: Federal Reserve Chair Jerome Powell, asked in a private meeting with US lawmakers Wednesday how much further the central bank will raise interest rates this year, referred to...
...Bank stocks also retreated, with the KBW Bank index off 2 per cent....
...’ in Hanover China, EU, Japan, UK, US: S&P Global/Cips/HCOB/Caixin/Jibun Bank manufacturing PMI data UK, Nationwide house price survey US, Goldman Sachs president John Waldron speaks at the Bernstein...
...“Mergers and acquisitions started to pick up there thanks to Reaganomics” and inflation-busting policies pursued by then-US Federal Reserve chairman Paul Volcker, “which revived the stock market”, he said...
...S&P has rated the bonds single-B minus, among the riskiest ratings it assigns....
...That’s according to the Federal Reserve Bank of Chicago. Now, it’s a lot easier for US companies to raise money. Here to explain what’s going on is the FT’s Harriet Clarfelt. Hi, Harriet....
International Edition