Greater Toronto Airports Authority is monitoring bond market conditions as its most recent debt deal outperforms the wider Canadian dollar corporate bond market. GTAA’s C$500 million ($382 million) of secured bonds due 2028 were quoted Friday at a spread of around 88 basis points over similar-duration government securities, or around 21 basis points tighter than where they were…
The risk-of-default ratios for consumer industries have decreased from higher peaks earlier this year, but they are still trending above the levels they enjoyed before the coronavirus pandemic. Source: S&P Global Drug retailers, department stores, and the travel and leisure industries — considered the most vulnerable sectors by S&P Global Market Intelligence’s median one-year market…
According to the article published by Reuters, J.P. Morgan’s credit trading desk is already handling more than three-quarters of the volume of trades this year executed in the whole of 2019 as market turmoil picks up. The turmoil unleashed by the coronavirus pandemic has forced liquidity to dry up even in the deepest parts of…
Titans such as Microsoft, Apple and Home Depot have been among the beneficiaries of the Fed’s bond buying program. Although the purchases have been light, questions have been raised over “moral hazard” as the Fed buys debt from these companies that don’t seem to need the central bank’s help. Track for dislocations in the corporate…
With US Rates coming off the lows and breaking out of a three-month range, the fixed income market is “acknowledging the worst of the economic hit might be in the rear view mirror,” said Jon Hill, senior fixed income strategist at BMO. We should be poised for higher yields and larger price action in the…
From Bunds to Gilts, Strategists have been calling for steepeners on the back of an inevitable global economic rebound. In the US, the call is as strong as ever with JPM, MS and NatWest calling for some expression of the trade. Overbond’s very own Rates Strategist, Tim Self, backtested a tactical 5s10s curve strategy. Inquire…
The mammoth bond market has long been the old-school bastion of the financial world, but the COVID-19 pandemic has cast a light on its future – and it looks electronic. As an example, around 45% of the European fixed-income market is electronically traded, versus 38% a year ago, Greenwich Associates estimates. Embrace the new generation…
Corporations, borrowing at more than twice last year’s pace, have already raised more than $1 trillion in 2020 as they race to restructure older debt, pay down bank lines and raise cash to weather the recession. The Fed’s bond buying program and strong inflows from overseas investors have supported the new issuance. Outperform the rising…
With central banks doing what they can to stoke greater economic activity, interest rates look poised to stay low for the foreseeable future. Even with 10-year Treasury yields below 0.75% and 30-year yields just above 1.5%, rates can conceivably fall even further. With yield compression squeezing relative value hunters, deep learning analytical tools have never…
Companies strong enough to gain access to the bond markets have borrowed $1 trillion this year at the fastest pace on record. Then there are those that can’t afford to carry the debt they have, leading to the most large bankruptcy filings in the first five months of the year since 2009, during the Great…
LONDON, UNITED KINGDOM, ENGLAND, February 27, 2024 /EINPresswire.com/
