Wynn Macau Bonds Inch Up Post Gaming Law Reform
Investors welcomed the new Macau gaming law reform, which was more accommodative than previously expected. More importantly, the reforms have removed an overhang over increased regulatory scrutiny of gambling laws in the world’s largest betting hub. As per the...
China Merchants, Shinhan Card Launch $ Bonds; Deutsche’s AT1s & Tesla Upgraded; All But One Vedanta Bonds Fall; Lenders Reduce Exposure to Evergrande
S&P trended up by 1.6% led by tech and consumer discretionary sectors, which were higher by ~2.5%. Apple and Amazon were up 6.3% and 4.8% respectively ahead of their respective 5G iPhone launch and Prime Day events. US big banks to report Q3 earnings in the...
JSW Steel, Fosun, Logan Launch $ Bonds; Vedanta’s Delisting Efforts Fail; Weibo Downgraded to Baa2; Saudi’s NCB Merges With Samba
S&P ended up 0.9% on Friday led by tech and consumer discretionary sectors up ~1.5%. 10Y US Treasury yields moved 3bp higher mid-day but came back to end almost unchanged. Market activity in the US is expected to be light today due to the Columbus Day holiday...
Agile Launches $ Bond; Congress Report Calls for Restructuring of Big Tech; San Miguel Plans to Re-Enter Airlines
US equities dropped yesterday with S&P down 1.4% as tech (down 1.6%) and other sectors fell after Trump halted negotiations with Democrats on the Covid-relief stimulus until after the elections. Aviation fell sharply with Boeing and American Airlines down 7% and...
