NFP for June at a Record High of +4.8mn; US Junk Bond Funds Witness Big Outflows; SAIC to Buy Stake in CAR Inc

NFP for June at a Record High of +4.8mn; US Junk Bond Funds Witness Big Outflows; SAIC to Buy Stake in CAR Inc

Stronger than expected US NFP data of 4.8 million in June vs 3 million expected gave a knee-jerk rally for stocks. The unemployment rate also fell to 11.1% from 13.3% last month. The intraday rally was short-lived and reversed much of the gains as many are concerned...
Emirates NBD & JG Summit Launch $ Bonds; World’s Most Valuable Carmaker Is Rated Junk; Lufthansa Downgraded; TAQA Upgraded

Emirates NBD & JG Summit Launch $ Bonds; World’s Most Valuable Carmaker Is Rated Junk; Lufthansa Downgraded; TAQA Upgraded

Sentiment picks up as positive news about an early vaccine trial along with good economic data sent Wall Street higher. Nasdaq hit a new record. US ISM manufacturing data came in better than expected and rose to 52.6 in June from 43.1 in May. China’s Caixin PMI...
SMFG & Times China Launch $ Bonds; S&P ‘Junks’ Axis Bank & PFC; Fed Discloses Bond Purchases

SMFG & Times China Launch $ Bonds; S&P ‘Junks’ Axis Bank & PFC; Fed Discloses Bond Purchases

As coronavirus cases globally cross the 10 million mark, with more than half a million deaths, markets are now worried about the potential impact of economies not reopening as soon as expected. With more than a quarter of cases globally in the US, and states like...
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