by Amruth Sundarkumar | Jul 28, 2022 | Banks, Global
Britain’s Lloyds Bank reported a 2.9% increase in underlying profit to £1.9bn ($2.3bn) for the quarter ended June. Underlying net interest income rose 16% YoY to £3.2bn ($3.9bn), which was above analyst expectations of £3bn ($3.6bn). This was slightly offset by...
by Amruth Sundarkumar | Jul 26, 2022 | Banks, Global
Barclays has announced a buyback of up to $17.6bn of securities, after it accidentally sold more structured and exchange-traded notes than it had registered with the SEC. Bloomberg notes that this blunder requires the firm to not only repurchase more than 3,000 of the...
by Megha Malhotra | Jan 18, 2022 | Corporates, Financial News, Global, High Yield Bonds
French state-owned utility Electricité de France S.A. (EDF) has been downgraded to BBB+ from A- by Fitch. Further, its ratings have been placed on Rating Watch Negative by Fitch, review for downgrade by Moody’s (A3) and CreditWatch Negative by S&P (BBB+)....
by Megha Malhotra | Jan 18, 2022 | Financial News, Global, High Yield Bonds
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...
by bondevalue | Oct 13, 2020 | Financial Institutions, Financial News, Global, High Yield Bonds, People's Bank of China, Perpetual Bonds
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...
by bondevalue | Oct 12, 2020 | Global, High Yield Bonds, Macroeconomic news
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...
