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...Asked by one bondholder whether Altice could rule out forcing creditors to take part in these proposed debt impairments, Okhuijsen replied: “I don’t think we can exclude anything” and that “if you do the...
...Sotheby’s will be banking on the fact that there isn’t much overlap between the buyers of esoteric ABS issues and European junk bonds, with investors in the former tending to be more focused on the underlying...
...She’s in T-bills at 5.25 per cent right now. Pretty good deal. Or she could buy 10-year bonds at 4.55 per cent....
...As you can see at right, bank credit is still restricted, but spreads don’t care....
...Some of these bonds are trading at little over 70 pence in the pound, as investors have grown more nervous about the potential for deep impairments....
...He added: “I don’t think it’s the model which is the issue per se, it’s the shift in the regulatory and political landscape.”...
...Given the boilerplate nature and insane length of modern bond prospectuses that’s understandable. And most of the time that’s fine — until it really isn’t....
...Email Robert at magazineletters@ft.com Follow @FTMag to find out about our latest stories first and subscribe to our podcast Life and Art wherever you listen...
...But valuation shifts don’t go on forever....
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com. The inflation narrative could flip fast Jay Powell is worried about inflation again....
...I’m going to say something that’s going to sound weird: a market with a T-bond rate of 4 per cent is much healthier than a market with a T-bond rate of 1.5 per cent....
...cent is much healthier than a market with a T-bond rate of 1.5 per cent....
...Email Robert at robert.shrimsley@ft.com Follow @FTMag to find out about our latest stories first and subscribe to our podcast Life and Art wherever you listen...
...Most investors buy utilities for their dividend yields, as a bond substitute. But since the pandemic began, bond yields have risen, and utilities’ yields have not....
...There is far too much hand-wringing from banks and bond investors as bonds fall and yields rise back up towards 4.75 per cent, reversing the rally at the close of 2023 (“The great bet on rate cuts is off...
...Email us: robert.armstrong@ft.com and ethan.wu@ft.com. How much inflation is priced in?...
...Listen, don’t ask me, I don’t know. I don’t know. Robert ArmstrongYeah. Should we turn to Apple? Ethan WuLet’s turn to Apple. Robert ArmstrongOK....
...He’s like, guys, isn’t this crazy? Like talking into the camera. Don’t do that. Very annoying. Rob, short or long? Robert ArmstrongI’m gonna continue the theme that Anna brought up....
...Robert ShrimsleyThere’s still 647 who haven’t sent these pictures....
...Kemble’s £400mn bonds are trading at little over 15 per cent of their face value, indicating debt investors are braced for a near-total wipeout....
...That is in line with current market expectations given that a default at Kemble earlier this month sent the price of a second-ranking “Class B” bond plunging to little over half of its face value....
...The bonds were issued by Kemble Water Finance, which sits above the nearly £15bn of debt at the Thames Water utility companies that should be unaffected by the move....
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