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...China’s outbound M&A of $2.5bn is the lowest recorded amount over the same period since 2005....
...I’m here and I’m going to live up to that role.”...
...Bristol Myers Squibb raised $13bn in a large bond deal on Wednesday that will help fund two acquisitions....
...Bristol Myers Squibb launched a potentially jumbo-sized bond deal on Wednesday to help fund two acquisitions....
...Well, there are no bad bonds, just bad prices. At some price, I’m willing to take that “lose 20, make 5” trade. Right now, the current pricing structure is off-the-charts crazy....
...I’m sure we’re all delighted to see the downtrodden billionaires enjoy a stroke of luck....
...However, in a post-bond crash world (ie now) these covenants have at least the potential to provide a headwind to M&A deals. Why?...
...Exclusive: Chinese authorities have kicked off plans to sell Rmb1tn ($140bn) of long-dated bonds, as Beijing ramps up spending to stimulate the economy....
...Ethan WuYou know what I’m short, Katie?...
...“I’m not seeing any evidence of it whatsoever.” “For the last six months at least, clients have been coming to us asking ‘Where do I get into the bond market? When do I get into the bond market.’...
...And here’s what else I’m keeping tabs on today: Economic data: US government data is expected to show that job openings in February fell to 8.7mn from about 8.9mn in January....
...It is earning 5 per cent now, but I’m worried that won’t last. I need to do something, and I have plenty of stocks as it is. Part of the issue here is that my background is in equities....
...“Since the rule came out, I thought more people would be more forthcoming in saying ‘we’re going to do this’, I’m surprised they haven’t.”...
...Here’s what else I’m keeping tabs on: Economic data: Economists expect US consumer price inflation to have risen to 3.4 per cent on an annual basis when it is reported later....
...pp [February 2024 m-o-m] = ~~~2.9 per cent Get the latest-month vibes roughly right, and you too could be a sellside economist....
...could come down and bond prices could go up....
...Last month, a 400sq m “maison” opened on Rue Duphot in Paris; tomorrow, London follows with a similarly sized store on New Bond Street....
...— Exploring the ECB’s distributional wealth accounts (Benjamin Braun) — An SDR-linked bond can strengthen the finances of the World Bank Group (Brad Setser and Stephen Paduano for CFR) — Reassessing...
...And, of course, what you had to do was buy all the long bonds. Now there are almost no long bonds left in the US market, because they’ve absorbed them on to the Fed’s balance sheet....
...This leaves my US government, short-dated bond fund....
...But measured by equity risk premium — forward earnings yield versus local bond yield — equities are cheaper than they were during the AOL-Time-Warner-to-RBS-ABN-Amro era: And what would an M&A strategy...
...It’s a little weird that I’m bidding for Treasuries against the Saudis, isn’t it? Well, you might actually want to bid against them, depending on where oil prices are at the time....
...But until Charter “formally rules out M&A”, the CreditSights analysts write, “we think there may be a new floor for Altice USA bonds.” Good for them!?...
...I’m joined now by the FT’s Polina Ivanova. She covers Russia. Hi, Polina. Polina Ivanova Hi. Sonja Hutson OK....
...Gray said Blackstone was “definitely seeing more transaction activity”, helped by lower corporate borrowing costs and a pick-up in bond issuance even as investors have curbed their expectations for central...
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