6 New $ Deals Today; 67% of $ Bonds Traded Up in 2020 Led by IG; China Sets Limit on Loans to Developers; Vedanta Raises $1.4bn in Private Debt
US equity markets closed on an upbeat note on the last trading day of 2020 with the S&P and Dow up 0.6%, ending the year with gains of 16% and 6.8% respectively. Andrew McCaffery, Global CIO at Fidelity explained the strong investor sentiment stating, "In 2020,...
PBOC to Scale Back Support Gradually; $120bn of $ Bond Deals Expected from GCC in 2021; Airbus & BOC Aviation Stare at Losses Related to AirAsia Restructuring
US equities closed slightly lower with the Dow and S&P down 0.7% and 0.2% while Nasdaq outperformed, up 0.5%. News on Apple’s electric car production saw its stock rally ~3%. The US Congress approved the $892bn Covid relief package with both the House and Senate...
CFLD Raises $340mn via Privately Placed Bond; NMC to Sell Fertility Biz for $525mn; Softbank Files For $525mn SPAC IPO
Risk assets slipped globally with S&P and Nasdaq down 0.4% and 0.1% while European equities fell sharply. DAX, CAC and FTSE ended the day lower by 2.8%, 2.4%, 1.7% as news of the new Covid strain took a toll on markets. While UK Prime Minister Boris Johnson...
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...
Tesla Upgraded to BB; China Regulators Probe Tech Cos on Past M&As; Seazen Buyback of $198mn of 2021s; Gol Upgraded to B3
Risk assets continue to stay bid with the S&P and Nasdaq up 0.6% and 0.8% while DAX was up 0.8%. US 10Y Treasury yields were marginally higher by ~1bp. The White House came out with an announcement mid-day that they were optimistic of a stimulus deal in the next...
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...
Laos Launches 6Y Amortizer at 10%a; Wynn Macau Raises $750mn via 2028s Tap; ECB Lifts Ban on Dividends; China Rating Agency Suspended Following Defaults
US equities rallied with the S&P and Nasdaq higher by 1.3%. US 10Y Treasury yields also inched higher by 1bp in a broad risk-on move. Preliminary Markit PMI and US retail sales numbers are expected to marginally soften from the prior numbers with the macro data...
Wynn Macau, Fantasia, Casino Launch Bonds; LMIRT to Skip Coupon on S$ Perps; JSW, Adani ICT Price New Bonds; Shandong Ruyi Defaults on Local Bond
Nasdaq outperformed the broader market and was up 0.5% while S&P was down 0.4%. Tesla was up 4% and Alexion was up 29% on the buyout news from AstraZeneca. US 10Y Treasury yields at 0.9%, continued to trade in a narrow range. The two-day FOMC meeting commences...
JSW, Adani ICT Launch $ Bonds; ECB Expected to Allow Banks to Pay Dividends; Yuzhou to Spin-Off & List Unit; McLaren Sells Stake in F1 Business
S&P and Nasdaq ended 0.1% and 0.2% lower on Friday while European equities slumped with the DAX down 1.4% while the CAC and FTSE were 0.8% lower each. Sanofi and GlaxoSmithKline mentioned that they would delay the launch of their Covid vaccine until late next...
