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...
Sino-Ocean Cap, Agile, Ronshine Launch $ Bonds; Hilong Defaults; Lufthansa Deal Hits Roadblock

Sino-Ocean Cap, Agile, Ronshine Launch $ Bonds; Hilong Defaults; Lufthansa Deal Hits Roadblock

Markets started this week on a positive tone as investors look towards recovery as we get closer to quarter end. Economic growth and data this quarter have been some of the worst but markets have seen a record return primarily driven by central bank stimulus’...
ICTSI, Powerlong Launch $ Bonds; $5bn Bailout Package for Cathay Pacific; Indian Dollar Bond Market Reopens

ICTSI, Powerlong Launch $ Bonds; $5bn Bailout Package for Cathay Pacific; Indian Dollar Bond Market Reopens

The rally in markets cooled off overnight over concerns that the move could have overshot economic prospects as well as some profit taking. Tuesday also saw German figures that pointed to the biggest collapse in exports from Europe’s largest economy on record in...
Kepco, Central China, Greenland Launch $ Bonds; ; 31% of Dollar Bonds Up YTD; NFP Delivers 10mn Upside Surprise

Kepco, Central China, Greenland Launch $ Bonds; ; 31% of Dollar Bonds Up YTD; NFP Delivers 10mn Upside Surprise

31% of dollar bonds in our universe are trading higher today vs. the start of the year (full story below). Friday’s Non-Farm Payroll (NFP) number of +2.5mn vs. an expected -7.5mn gave a 10mn upside surprise that caused a sharp rally in equity markets and...
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