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...Anyway, back to the S&P report. They reckon that debt maturities of firms rated single-B or lower will be around $310bn in 2025, rising to $400bn in 2026....
...A discount on the bonds lifted the yield on the single-B rated notes to 11 per cent, according to people briefed on the matter....
...Amazon and Nvidia are less secure but still enjoy deep competitive moats in their niches (retail platform data and logistics and class-of-their-own AI chips)....
...The benchmark S&P 500 has climbed 19 per cent in six months, while volatility — a threat to would-be floats — has remained low....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...We’ve divided the issuers up by their primary exchange and overlaid short-interest data from S&P Global, accurate to February 23....
...The P/B ratio measures the market value relative to its book value....
...The rating agency in May cut SoftBank’s long-term credit rating from double B plus, its highest non-investment grade, to double B following record investment losses....
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...Since 1964, Berkshire shares have returned 4.4mn per cent, far outstripping the 31,233 per cent gain by the benchmark S&P 500....
...Additional reporting by George Russell in Hong Kong and Harriet Clarfelt in New York Letter in response to this article: It’s no surprise that ESG investment ratings unravel / From J Richard Finlay, Founder...
...You can get a deal done for a double-B senior loan at a 300-350bp spread all day long. That market’s wide open....
...(b) Returns implied by the stock market equal only est. half of Citi’s target. For those looking for a “margin of safety” for an investment—we believe Citi looks like a stock to own....
...Shares in the US delivery and logistics group are up 46 per cent so far this year. Arch rival UPS has dropped 4 per cent over the same period while the S&P 500 index has risen 16 per cent....
...“They’ve been burning cash throughout the last year or so,” said Oliver Vande Stouwe, an analyst at S&P....
...As the TSE’s chief executive, Hiromi Yamaji, told Nikkei Asia earlier this year: “Instead of taking the rigid approach of saying those with P/B ratios below 1 have failed, it makes more sense to urge every...
...The downgrade from double B plus, S&P’s highest non-investment grade, to double B came after SoftBank’s tech-heavy Vision Funds this month posted record annual investment losses of $39bn....
...“The fact the economy has stayed resilient even if overall growth has been subdued, that is a very positive thing,” said Christopher Rossbach, chief investment officer of J Stern & Co, a longtime shareholder...
...By contrast J&J, which gets 84 per cent of its revenue from pharma and medical device sales, trades at about 18 times. J&J would keep at least 80.1 per cent of the voting shares after the spin-off....
...Those that have complied tend to be the weakest companies, with p/b ratios below 0.5; many stronger companies apparently feel like they can get away with it....
...“They’re taking bets on different things,” said Raoul LeBlanc, an analyst at S&P Global....
...The perimeter of the financial junkyard is defined by a rating of BB+ from Fitch and S&P, and Ba1 from Moody’s....
...Grabinski calculates that on a trailing 12-month basis, S&P cost growth has outstripped revenue growth for the fourth month in a row....
...Under PAC 1, launched by Lula in 2007, only a quarter of projects were effectively delivered, according to analysis by consultancy Inter B....
...There’s a lot of companies in the double-B category that were downgrades from triple-B. They’re better companies. It’s a different high-yield than, say, 10 years ago ....
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