Russia-Ukraine Tensions Escalate Further, Weighing on Their Dollar Bonds
Tensions between Russia and Ukraine seem to be escalating further with US National Security Advisor Jack Sullivan telling CNN on Sunday that there’s “a distinct possibility that there will be major military action very soon.” He cited US intelligence when he...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
S&P and Nasdaq ended 1.8% and 2.1% lower as US inflation hit a 40Y high (details below). Sectoral losses were led by Real Estate, IT and Utilities, down over 2.5% each. The high inflation reading pushed US 10Y Treasury yields higher by 11bp to breach the 2% mark...
Credit Agricole Net Income Up 4.4x; SocGen’s Profits Jump 3.8x
Credit Agricole Group reported a 4.4x rise in its Q4 net income to €2.35bn ($2.7bn) vs. €530mn ($604mn) a year ago. This was helped by revenues increasing 9.6% to €9.5bn ($10.8bn) from last year’s €8.8bn ($10bn) and its underlying cost of risk down to down to...
Vodafone Rejects $13bn Iliad, Apax approach for Italian Biz
Vodafone rejected a preliminary offer for its Italian business from Iliad and Apax Partners worth more than €11bn ($12.5bn). Vodafone said that the offers were not in the best interest of its shareholders, adding that it was pursuing several value accretive deals....
