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...Berkshire and the S&P 500 If your entire equity portfolio had to be in either the S&P 500 or Berkshire Hathaway, which would be the better choice?...
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...The stock has gained nearly 40 per cent over the past 12 months, outpacing the S&P 500’s 20 per cent rise....
...“Significant budgetary consolidation has placed Greece’s fiscal trajectory on to a firmly improving track,” said S&P’s analysts, who attributed a “stable” outlook to the country....
...S&P’s move comes after Fitch raised the company to investment grade status in September. Moody’s lifted the company to the highest notch of junk territory in July....
...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....
...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)....
...Since 2000 oil prices have rarely continued rising when the S&P 500 has a sustained decline. That surely would happen if oil prices soared in an all-out war between Iran and Israel....
...Digging through the data of S&P Global offers surprising findings. Sub-Saharan African sovereigns rated in the B category between 2010 and 2023 defaulted in 22 per cent of all cases within five years....
...S&P could not immediately be reached for comment....
...We’ve divided the issuers up by their primary exchange and overlaid short-interest data from S&P Global, accurate to February 23....
...For example: “In my view, [public markets aren’t] differentiating enough between office Reits that hold B-tier assets and office Reits that hold A-tier assets.”...
...Heavily indebted H&W has posted operating losses annually for the past decade, according to S&P Capital IQ, and was bought out of receivership in 2019....
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...Wall Street’s benchmark S&P 500 index reversed an early gain of 0.8 per cent to close down 1.2 per cent as investors fretted over the impact of higher tensions in the oil-rich region....
...“Shale has redrawn the map of world oil in a way most people don’t seem to understand,” said Daniel Yergin, vice-chair of S&P Global and a Pulitzer Prize-winning energy historian....
...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...Of the 447 universities with a credit rating from S&P Global Ratings, more than a third are rated triple B plus or below....
...He has made it his mission to significantly reduce the proportion of companies with languishing P/B ratios, to bring the TSE to levels closer to those in the US (5 per cent of S&P 500 companies) and Europe...
...S&P this month downgraded Thames Water’s top-ranked class A debt to BBB-, the bottom rung of investment-grade, just one notch above junk....
...The S&P 500 is not yet quite as expensive as it was in the zero-rate, fiscal bonanza, everyone-has-loads-of-cash glory days of 2021. But it is getting closer....
..., PepsiCo Q1, Philip Morris International Q1, RWS Holdings HY, Seagate Q3, Shimano Q1, Spotify Q1, Taylor Wimpey AGM & trading update, Tesla Q1, Texas Instruments Q1, United Parcel Service Q1, Visa Q2, W...
...From S&P’s definitions: A short-term obligation rated ‘D’ is in default or in breach of an imputed promise....
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