Chinese SOEs’ Bonds Drop With Doubts on Government Support; Middle East Looks at More Sukuks; Emirates Suffers First Loss in 30 Years; Revlon Staves Off Bankruptcy

Chinese SOEs’ Bonds Drop With Doubts on Government Support; Middle East Looks at More Sukuks; Emirates Suffers First Loss in 30 Years; Revlon Staves Off Bankruptcy

S&P and Nasdaq posted losses of 1% and 0.65% yesterday. Sectors that dragged the broad market included energy down 3.3% while utilities and financials were down 1.7% each. Both headline and core CPI came in softer than expected while jobless claims numbers printed...
Bank of Communications, Aoyuan Launch $ Bonds; Verizon Issues $12bn Bonds; Tsinghua $ Bonds Beaten Down; EU issues SURE bonds, China Issues Draft Antitrust Guidelines

Bank of Communications, Aoyuan Launch $ Bonds; Verizon Issues $12bn Bonds; Tsinghua $ Bonds Beaten Down; EU issues SURE bonds, China Issues Draft Antitrust Guidelines

S&P ended marginally lower 0.14% while the rotation trade continued with Nasdaq down 1.4% as big tech stocks and those that benefitted from Covid got hit. Besides, the EU hit Amazon with formal antitrust charges. The DAX rose 0.51%, despite a 17 point drop in the...
Korea LH, Gansu Provincial Launch $ Bonds; China to Sanction Boeing, Lockheed on Arms Sales to Taiwan; State-Backed Parent of BMW’s China JV Partner Defaults on Local Bond

Korea LH, Gansu Provincial Launch $ Bonds; China to Sanction Boeing, Lockheed on Arms Sales to Taiwan; State-Backed Parent of BMW’s China JV Partner Defaults on Local Bond

US equities fell with the S&P down 1.9% and Nasdaq lower by 1.6% – energy and industrial sectors fell the most, by 3.5% and 2.5% respectively. Increased Covid-19 cases and hopes of a stimulus falling saw the risk-off sentiment pick-up. US 10Y Treasury yields...
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