Hints and tips:
...Assume, then, that TMTG’s weighted average cost of capital falls from more than 20 per cent to 5-6 per cent, the S&P 500’s average WACC. Even then, we’re only at $51....
...Holders of the bond said they hope to get single-A credit returns with triple-A protection....
...A triple-whammy of high interest rates, low energy prices and trade protectionism aimed at China were all challenges for solar companies, Schröder told me....
...Berkshire has warned that figure could double or triple....
...After S&P took away its triple A rating for the US, there was little long-term effect on markets....
...Spreads on triple-A CLO tranches are near 20-month lows. Greater CLO demand, somewhat circularly, has come in part from US banks....
...Since mid-May, NRG’s shares have risen 47 per cent, compared with a 10 per cent loss for the S&P 500 utilities index. Shares of NRG fell 1 per cent in early trading on Monday....
...There was no liquidity in S&P 100 options....
...So now that Moody’s is the only one that still gives the US sovereign a triple-A grade could theoretically mean that some triple-A-only investors might have to ditch Treasuries?...
...You can get 7.5 per cent from floating rate triple-A assets in parts of the securitised market that will not have any defaults.”...
...These reliably hot bits of transportation services more than offset a fall in airfares, which, despite intense volatility, have fully reverted to pre-pandemic price levels and then some: Several measures...
...The S&P 500 stock index closed 1.4 per cent lower on Wednesday....
...“They’re taking bets on different things,” said Raoul LeBlanc, an analyst at S&P Global....
...Global bond exchange traded funds crossed $2tn in assets this week, double their total just three years ago, and BlackRock has predicted assets will triple to $6tn by 2030....
...* Yes we know that Fitch uses restricted default (RD) and selective default is S&P’s classification....
...S&P downgraded its rating based on the increased debt size after the deal. It described the deal as “notable” for Nasdaq, although “not transformational”....
...The S&P 500 fell a bit yesterday, but growth was unbothered. Google even staged a nice little rally, after Bill Ackman and Dan Loeb disclosed fresh investments....
...Stocks have dropped this week, with the blue-chip S&P 500 and the tech-heavy Nasdaq Composite both down nearly 2 per cent....
...The benchmark S&P 500 has declined 20.9 per cent while an investor in US Treasuries has lost 15.3 per cent, according to Ice Data Services....
...expected to come from new sectors like heavy-duty transportation, steel production, and long-term energy storage....
...The rating agency maintained the UK’s AA- investment grade but warned that the outlook was now negative rather than stable, mirroring the action taken last week by its peer S&P....
...S&P 500 companies....
...There has been 338 GWh of new US battery manufacturing capacity announced this year alone, according to data from S&P Global Commodity Insights, more than the past four years combined....
...A painful back and forth between Moral Money and S&P Global ensued....
...That might seem perverse to many observers, given that the company’s entire business model is centred on low-carbon transportation, especially so given the inclusion of ExxonMobil....
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