by Amruth Sundarkumar | May 18, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields were higher across the curve with the 2Y and 5Y yields up 6-7bps for a second straight day. Both US President Joe Biden and Republican House Leader Kevin McCarthy expressed optimism that a deal will soon be struck to lift the $31.4trn debt ceiling,...
by Amruth Sundarkumar | May 18, 2023 | Sovereign Bonds, Sovereigns
Yields on Turkey’s dollar bonds have risen significantly across the curve on expectations that the President Erdogan will likely hold power following the May 28 run-off election. Markets had not expected Erdogan to garner the number of votes that he actually...
by Amruth Sundarkumar | May 18, 2023 | High Yield Bonds, India
Vedanta Resources is said to be in talks with global banks like Deutsche Bank, JPMorgan and others for a $500-600mn loan to meet its debt repayments in May, as per sources. The sources noted that Vedanta plans to borrow the amount via its Zinc International unit....
by Amruth Sundarkumar | May 18, 2023 | Credit Ratings, Investment Grade Bonds
DP World was upgraded to BBB+ from BBB- by Fitch with a stable outlook. This comes on the back of the logistics company’s “successful deleveraging” with a net debt-to-EBITDA of less than 4x at end-2022 vs 6.4x in 2020. DP World is the fifth-largest...
by Amruth Sundarkumar | May 17, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields were higher across the curve with the 2Y and 5Y yields up 6-7bps. The US Treasury’s debt ceiling talks are ongoing and continue to weigh on markets. US retail sales increased by 0.4% in April, less than the expected 0.5% rise. On the...
