Oman to Lift Subsidies to Narrow Fiscal Deficit; Fed Allows US Banks to Resume Buybacks; GE Buys Back Bonds Worth $2.2bn; China ex Fin Min Criticizes Regulators
S&P ended 0.4% lower on Friday while Nasdaq was 0.1% lower. European equities also showed a similar picture, with the DAX, CAC and FTSE down 0.3%-0.4%. China threatened to impose countermeasures after US decided to blacklist more than 60 Chinese companies. “Such...
Fed to Maintain Bond Buying; Vedanta to Raise $8bn In a Bid for BPCL; CFLD to Get Support from Ping An; Casino Upsizes 5NC2 & Tightens Pricing by 87.5bp
S&P and Nasdaq rose 0.2% and 0.5% with the latter at a record closing high. US retail sales fell 1.1% from the prior month, more than forecasted. US Markit manufacturing PMI beat expectations at 56.5 while services were slightly short at 55.3. The Federal Reserve...
CIFI, KWG Launch $ Bonds; Status Quo at The Fed; Maldives & Carnival Downgraded; IMF Calls For Strategy Change at Pemex
US equities continued to rally with the S&P and NASDAQ up 1.9% and 2.6%. Similar gains were seen in European equity indices. The FOMC meeting was a non-event with Chairman Powell noting that they could shift the composition, duration, size or the life cycle of the...
Fed to Let Inflation Run Higher; Treasury Curve Steepens; Finnair Issues Euro Hybrid at 10.25%
Markets were supported overnight by constructive comments from Fed Chair Jerome Powell, who spoke at the Jackson Hole economic policy symposium. He announced a major dovish paradigm shift where the central bank will abandon its old policy of targeting 2% inflation and...
