Fallen Angel ETF’s Assets Double to $1 Billion on Strong Flows in The New Year
Strong appetite for fallen angel bonds – bonds of issuers that have recently been downgraded to junk from investment grade – have led to solid inflows in the iShares FALN ETF in the new year. Record weekly inflows of $478mn, followed by another $93mn have...
Ecuador’s Bonds Drop After Presidential Candidate Announces Plans to Shun IMF Terms
Ecuador’s dollar bonds dropped after the front-runner for the President’s seat Andres Arauz indicated his unwillingness to comply with the conditions attached to a financing package negotiated with the IMF last year. The sovereign’s bonds have been...CFLD’s Dollar Bonds Recover, Although Concerns Remain
China Fortune Land Development (CFLD), whose bonds fell over 40% in the first week of the new year, saw its bonds recover some of the losses last week. Similar moves were also observed in Greenland Holdings’ bonds, which also fell earlier in the week on CFLD’s woes....
Jiayuan Launches $ Bond; Oman Raises $3.25bn via Bonds; CFLD Downgraded by Fitch, Bonds Recover; CNOOC & Xiaomi Blacklisted; Sritex $ Bonds Slump
US equities ended slightly lower as S&P and Nasdaq were down 0.4% and 0.1% respectively. Fed Chair Powell said that “a lesson from the financial crisis a decade ago is not to exit a bond-buying program too early…interest rate increase would come no time soon” –...
