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...
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...
SwissRe, Aoyuan, NagaCorp Launch $ Bonds; Oman & Carnival Downgraded; HPCL-Mittal Energy Seeks to Amend Bond Terms

SwissRe, Aoyuan, NagaCorp Launch $ Bonds; Oman & Carnival Downgraded; HPCL-Mittal Energy Seeks to Amend Bond Terms

Investors are grappling between upbeat economic data and the surging number of coronavirus cases. Economic data from the US and Europe recovered with IHS Markit’s Eurozone flash PMI at 47.5 from May’s 31.9, US Markit PMI at 49.6 from 39.8 and US home sales...
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