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Shui On’s Dollar Bonds Drop 3-4 Points
Shui On's dollar bonds were among the biggest losers, having dropped 3-4 points across the curve. While there was no specific news attributable to the move yet, its bonds have been falling over the last two days. Chinese property developers' dollar bonds have again...
Lufthansa Upgraded to IG-Status at Baa3 by Moody’s
Lufthansa was upgraded to Baa3 from Ba1 by Moody's. The rating agency also upgraded the ratings of Lufthansa's senior unsecured debt to Baa3. The upgrade action follows the strong operating performance achieved by the company last year. The company achieved an...
Treasury Yields Tick Higher
US Treasury yields continued to tick higher, with the 10Y up 7bp and 2Y up 3bp. Atlanta Fed President Raphael Bostic urged the Fed to proceed cautiously towards interest-rate cuts given the potential economic impact of unpredictable events, including elections and...
Unifin Files Debt Restructuring Deal
Unifin Financiera filed a debt restructuring deal in a Mexican bankruptcy court last week which is currently under consideration by the judge. The judge must approve the plan before January 28 for the court to process the deal. According to the plan, which was...
Treasuries Sell-Off After Strong Retail Sales
US Treasury yields jumped further higher, led by the front-end, as strength in economic data saw markets reprice their view on expected Fed rate cuts. The 2Y yield rose by 12bp and the 10Y was up 3bp. US Retail Sales rose by more than expected in December, thanks to...
Kenya Receives $941mn Funding From IMF
The IMF approved funding of $941mn to Kenya on Wednesday, of which $624.5mn was disbursed immediately. The disbursement under the Extended Fund Facility (EFF) and Extended Credit Facility (ECF) programs will be topped by $60.2mn of funds under a Resilience and...
Telecom Italia’s €22bn Grid Sale Deal Cleared by Italy
Italy has cleared Telecom Italia's landline grid sale of €22bn ($23.9bn) to KKR & Co. after completing the review process. The government did not choose to use its 'Golden Power' provision, despite the deal involving strategic assets, as KKR has agreed to the...
Gol Bonds Sink on Uncertainty Over Deal With Creditors
Dollar bonds of Gol Linhas Aéreas Inteligentes SA ('Gol') tumbled by 7-10 points on uncertainty over the company reaching a deal with its creditors. It was reported last month that Gol was planning another restructuring. On Sunday, a local newspaper reported that the...
Shriram, Morgan Stanley, JPMorgan Price $ Bonds; Waller Sounds Hawkish
US Treasury yields jumped across the curve on Tuesday with the 2Y up 7bp and the 10Y up 11bp, following some hawkish comments by Fed governor Christopher Waller. Waller said that the Fed should take a cautious and systematic approach when it begins cutting interest...