Emirates NBD & JG Summit Launch $ Bonds; World’s Most Valuable Carmaker Is Rated Junk; Lufthansa Downgraded; TAQA Upgraded

Emirates NBD & JG Summit Launch $ Bonds; World’s Most Valuable Carmaker Is Rated Junk; Lufthansa Downgraded; TAQA Upgraded

Sentiment picks up as positive news about an early vaccine trial along with good economic data sent Wall Street higher. Nasdaq hit a new record. US ISM manufacturing data came in better than expected and rose to 52.6 in June from 43.1 in May. China’s Caixin PMI...
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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