Hints and tips:
...JB Hunt, which is a big old capital-intensive diesel-burning trucking company that owns its own trucks, earned 11 per cent (and that was its worst year in more than two decades; trucking is in a slump)....
...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....
...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?...
...Without them, the S&P 500’s rise of 14 per cent at that point shrank to a miserly 4 per cent....
...According to a survey by Pew published in 2019, its share of children living with only one parent was triple the global average....
...They have attracted a net $5.9bn in new money this year, according to data from Morningstar, well below 2022’s record of $22.6bn....
...The S&P 500 stock index closed 1.4 per cent lower on Wednesday....
...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....
...Net inflows to ETFs surged to $111.5bn globally, according to data from BlackRock, triple that of September and the highest reading since March....
...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....
...That is significantly higher than the $109mn analysts had been predicting, according to data from S&P Capital IQ. Free cash flow is defined as cash flow from operations minus capital expenditures....
...S&P 500 companies....
...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....
...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....
...S&P cited the World Bank’s backing plus Argentina’s “unblemished record” in servicing multilateral debt....
International Edition