Fun Fact
The world of finance is getting more complicated. More specifically, the fixed income market as the largest capital market in the world is expanding in its complexity and importance. There are over 40 different professional designations available to capital market professionals, from chartered financial analyst (CFA), certified public accountant (CPA) to certified fraud examiner (CFE)…
Drop in junk bond market could signal change Source: Barron’s “Frothy” is a good word to describe last week’s high-yield market. The seven-month return for the sector reached 20%—remarkably high for bonds. Average yields, which move in the opposite direction of prices, fell to just 6%, down from 10% in February. Companies rated below investment grade…
Regulators clarify rules regarding trading for international dealers in Canada Source: Financial Post The Canadian Securities Administrators says it’s willing to grant regulatory relief to ensure that international dealers can participate in the Canadian bond market. The CSA’s statement is a response to a letter the Canadian Bond Investors’ Association sent to the Ontario Securities Commission…
Large U.S. corporates are diversifying by issuing in foreign markets and currencies Source: The Wall Street Journal Not to worry, there are a few more corners of yield left in the world of bonds. The latest target: emerging-market bonds in local currencies. After pulling out cash for the past three years and into the first quarter…
Oil price rut fuels soaring debt levels for energy companies Source: The Wall Street Journal Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends and find new barrels. Exxon Mobil Corp., Royal Dutch Shell PLC,…
Rise in interest rates will impact corporate borrowing programs Source: The Wall Street Journal The prospect of a Federal Reserve rate rise has investors in the U.S. credit markets less willing to make long-term bets. That may sound counter-intuitive, given that two exchange-traded funds that track long-term corporate bonds are both up 14% this year, making…
Bond sales, low interest rates are powering share repurchases Source: The Globe and Mail As earnings stagnate, U.S. companies looking to charge up their stock returns with repurchases are turning to debt markets like no time since the dot-com bubble. Led by Apple Inc. and CBS Corp., S&P 500 constituents have rushed to sell bonds to…
With trading volumes for US corporate bonds up
