AVIC Launches $ Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets saw a massive sell-off on Wednesday with the S&P down 4% and Nasdaq down 4.7%. Sectoral losses were led by Consumer Staples and Consumer Discretionary, down over 6% each. US 10Y Treasury yields fell 6bp to 2.91% on the overall risk-off sentiment...
Emirates NBD Upgraded to A2 by Moody’s
Emirates NBD (ENBD) was upgraded to A2 from A3 by Moody’s, driven by the upgrade to ENBD’s Baseline Credit Assessment (BCA) and Adjusted BCA. This comes on the back of a “significant decline in related party exposures” to AED 140bn ($38.1bn) as...
Credit Suisse Downgraded by Fitch to BBB+
Credit Suisse Group AG’s was downgraded to BBB+ from A- by Fitch with a stable outlook. Fitch notes that weak operating profitability compared with peers’ highlights the execution risk and the challenges for the bank to strengthen its performance over the next...
Tencent Reports Slowest Quarterly Sales Since Listing; Profits Fall 51% YoY
Tencent reported almost no revenue growth during Q1 2022 at RMB 135.5bn ($20bn), much lower than consensus estimates of RMB 141bn ($20.9bn). This was its slowest quarterly sales since it got listed. Its quarterly profits were at RMB 23.4bn ($3.5bn), down 51% YoY....
