Chinese SOEs’ Bonds Drop With Doubts on Government Support; Middle East Looks at More Sukuks; Emirates Suffers First Loss in 30 Years; Revlon Staves Off Bankruptcy

Chinese SOEs’ Bonds Drop With Doubts on Government Support; Middle East Looks at More Sukuks; Emirates Suffers First Loss in 30 Years; Revlon Staves Off Bankruptcy

S&P and Nasdaq posted losses of 1% and 0.65% yesterday. Sectors that dragged the broad market included energy down 3.3% while utilities and financials were down 1.7% each. Both headline and core CPI came in softer than expected while jobless claims numbers printed...
China Merchants, Shinhan Card Launch $ Bonds; Deutsche’s AT1s & Tesla Upgraded; All But One Vedanta Bonds Fall; Lenders Reduce Exposure to Evergrande

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...
OUE, Castle Peak, China Huadian Launch Bonds; GMR Hyd Airport Downgraded; AT1s with Upcoming Call Dates

OUE, Castle Peak, China Huadian Launch Bonds; GMR Hyd Airport Downgraded; AT1s with Upcoming Call Dates

Last week ended with a positive tone despite Thursday’s huge drop across the board. Markets are still cautious this morning and doubts over a quick recovery persist especially with news coming out over the weekend about rising coronavirus cases in some US...
UPL, China Fortune, Ronshine Launch $ Bonds; GE Raises $3bn via Bonds; Commerzbank & ABN Sell EUR AT1s

UPL, China Fortune, Ronshine Launch $ Bonds; GE Raises $3bn via Bonds; Commerzbank & ABN Sell EUR AT1s

Monday saw an extension of the rally sparked by Friday’s NFP jump with US stock indices returning to profit for 2020. European stocks saw some profit taking following last week’s huge gains. Long dated US treasuries recovered a little after the sharp sell...
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