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Oil prices recover as tech stocks lead US equities markets sharply lower and Treasury yields climb
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...Many US states and federal authorities require oil and gas companies to post bonds to cover the cost of well reclamation and plugging costs. But the amount is not always sufficient....
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...We will fret about machines that form emotional or erotic bonds with their users. In law, medicine, education and war, new ethical problems will erupt and demand resolution....
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...There were 11 high-yield bond issuances from the services sector in first nine months of the year, according to Dealogic, up from just one in all of 2022 and the highest total since 2018....
...For this reason, Prince said he saw “no reason to move out of cash into longer-term bonds at the moment”....
...Additional reporting by Jamie Smyth in New York...
...yields have made high-yielding staples less appealing as bond substitutes....
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...Jamie Dimon, chief executive of JPMorgan Chase, gave a more wary reaction in a Bloomberg interview....
...“We’ve seen all the money in the world not do some candidates any good,” Hamm told the FT’s Jamie Smyth. “People don’t believe in him.”...
...So this new Bank of England Working Paper by Jamie Long and Paul Fisher is worth bookmarking....
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...It feels fitting to quote Jamie Dimon to end this post....
...US bond yields jumped and stock futures sunk on the news as traders bet on fewer rate cuts than had been expected and the process starting possibly as late as November....
...But if the company is deemed investment grade with a bond listed on an exchange, a more favourable risk weighting of 65 per cent is proposed. Today, very few small and midsized groups issue bonds....
...If you invested $1mn into the 10-year Treasury bond today it would be worth over $1.1mn if yields dropped below 3 per cent again, or about $850,000 if yields approach the 7 per cent suggested by Jamie Dimon...
...As well as the emotional bond, they often have a large stake in the company, which grants them a seat round any negotiating table....
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