by Amruth Sundarkumar | Jul 23, 2021 | China, High Yield Bonds, Insights
The fall in interest rates globally has seen bond investors flock towards high yield bonds, which have outperformed investment grade bonds this year. The HYG high yield index has delivered a total YTD return of 1.82% vs. the LQD investment grade index that has...
by Amruth Sundarkumar | Jul 23, 2021 | China, High Yield Bonds
Evergrande is said to be exploring prospects of listing its tourism business after having preliminary talks with advisers on an IPO as per sources reported by Bloomberg. The sources said that the IPO could be launched as soon as next year as considerations are at...
by Amruth Sundarkumar | Jul 23, 2021 | High Yield Bonds
American Airlines posted a net profit of $19mn and an EPS of $0.03/share for Q2, snapping a five quarter losing streak after it received more than $1bn in federal payroll support. The Texas based company reported a loss of $1.1bn or $1.69/share after adjusting for...
by Amruth Sundarkumar | Jul 23, 2021 | High Yield Bonds
The world’s oldest bank, Banca Monte dei Paschi di Siena, reached an agreement with Monte dei Paschi foundation to reduce its legal liabilities (compensation claims) by €3.8bn ($4.5bn). The foundation would get €150mn ($177mn) as part of the settlement. This is seen...
by Amruth Sundarkumar | Jul 22, 2021 | China, High Yield Bonds
In the latest setback for Evergrande, top banks in Hong Kong such as HSBC, ICBC, StanChart and BOC’s HK unit are reported to have stopped providing mortgages to buyers of Evergrande’s unfinished residential properties in HK. As per sources, Hang Seng Bank, Bank of...
by Amruth Sundarkumar | Jul 22, 2021 | High Yield Bonds
Oil drilling major Transocean’s dollar bonds rose on Wednesday with the easing risk-off sentiment and Brent crude crossing $70/bbl as per Bloomberg, leading the rally in high yield energy bonds. Oil prices had fallen below $70 after the OPEC+ nations agreed to boost...
