EUROPEAN EQUITIES REBOUND AFTER
weak economic data from China reported the
economy expanded at its slowest pace in 27 years
in the second quarter citing trade tensions and the
absence of domestic economic stimulation.
Contradicting data revealed
industrial output and retail sales exceeded
estimates.
Greece
announced plans to
issue a 7-year bond
with a target of 2.5 billion euros “
subject to market conditions”.
FTSE 100 +0.41%,
German DAX +0.55%,
CAC 40
+0.21%,
STOXX Europe 600
+0.32%. The
10-year
Gilt dipped 4.3 basis points.
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THE YIELD GAP BETWEEN INVESTMENT GRADE and high yield corporate bonds is at its lowest since 2007. Just 60 basis points separate yields of the lowest-rated investment grade debt and the highest-rated high yield debt. As trends among corporate and government debt continue to point to economic downturn, many investors are selling riskier junk bonds. S&P +0.46%, DOW +0.90, NASDAQ +0.59%
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Topics:
High Yield,
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
bond market,
market analytics,
New Issues,
Finance,
Fixed Income,
News,
Syndicated Bonds,
syndicated,
research,
market update
THE YIELD GAP BETWEEN INVESTMENT GRADE
and high yield corporate bonds is at its
lowest since 2007. Just
60 basis points separate yields of the lowest-rated investment grade debt and the highest-rated high yield debt. As trends among corporate and government debt continue to point to economic downturn, many investors are
selling riskier junk bonds.
S&P
+0.46%,
DOW +0.90,
NASDAQ
+0.59%
Read More
Topics:
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
bond market,
market analytics,
New Issues,
News,
Syndicated Bonds,
syndicated,
research,
market update
EURO ZONE INDUSTRIAL PRODUCTION REBOUNDED in May
advancing by 0.9 percent exceeding estimates
a pleasant surprise to many investors. The production of consumer goods drove output higher notably in
France increasing 2.1 percent month-over-month
. Despite the expansion in all major economies production is down 0.5 percent from one year prior.
“If you look at the industrial production figures for the Eurozone they were better than expected, which is obviously a welcome sign - and in the background you have the Fed as well and we now expect a cut in July.”
FTSE 100 -0.13%,
German DAX -0.03%,
CAC 40
+0.29%,
STOXX Europe 600
-0.01%. The
10-year
Gilt dipped 0.2 basis points.
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Topics:
Analytics,
bonds,
junk bonds,
bond market,
corporate bonds,
market analytics,
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News,
research,
EU,
market update,
European
US MONEY-MARKET FUNDS pulled in $28 billion in the week ended Wednesday marking the third consecutive week of inflows rising to the highest levels since 2009. A weak global economic outlook and trade concerns have sparked fear in investors fleeing to assets with minimal risk. Middle market loan issuance rebounded in the second quarter of 2019 spiking 48 percent. “Clearly the volatility at the end of 2018 had a negative impact on all segments of the loan market in the first quarter.” The S&P 500 hit an all-time high rising above 3,000 for the first time. S&P +0.11%, DOW +0.71, NASDAQ -0.17%. The 10-year note dipped 6.5 basis points.
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Topics:
High Yield,
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
bond market,
market analytics,
New Issues,
Finance,
Fixed Income,
News,
Syndicated Bonds,
syndicated,
research,
market update
US MONEY-MARKET FUNDS pulled in $28 billion in the week ended Wednesday marking the
third consecutive week of inflows rising to the highest levels since 2009.
A weak global economic outlook and trade concerns have
sparked fear in investors
fleeing to assets with minimal risk
. Middle market loan issuance rebounded in the second quarter of 2019 spiking 48 percent.
“Clearly the volatility at the end of 2018 had a negative impact on all segments of the loan market in the first quarter.”
The S&P 500
hit an all-time high rising above 3,000 for the first time.
S&P +0.11%,
DOW +0.71,
NASDAQ -0.17%.
The 10-year note dipped 6.5 basis points
.
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Topics:
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
bond market,
market analytics,
New Issues,
News,
Syndicated Bonds,
syndicated,
research,
market update
GERMAN INFLATION TICKED HIGHER moving closer to the
European Central Banks target
coming in at 1.5 percent in June. Inflation across the euro zone has
lagged behind the ECB’s target
for years; Germany’s data is uplifting for the economy despite the
ECB lowering growth estimates across the bloc. Crude oil continues to climb amid a
tightening supply and draws from stockpiles globally.
FTSE 100 -0.35%,
German DAX -0.45%,
CAC 40
-0.23%,
STOXX Europe 600
-0.18%. The
10-year
Gilt advanced 8.1 basis points.
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Topics:
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bonds,
junk bonds,
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market analytics,
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News,
research,
EU,
market update,
European
JEROME POWELL SIGNALED A RATE CUT IS LIKELY IN JULY citing the Fed will “act as appropriate to sustain the expansion” despite global weakness and the ongoing trade spat. “Manufacturing, trade and investment are weak all around the world ... We have agreed to begin (trade) discussions again with China, and that is a constructive step. It doesn’t remove the uncertainty.” Gold rallied 1.33 percent following Powell’s dovish remarks and the major indices finished near all-time highs. The 10-year note dipped 0.3 basis points. S&P +0.45%, DOW +0.29, NASDAQ +0.77%
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Topics:
High Yield,
Investment Grade,
Loans,
Analytics,
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junk bonds,
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Finance,
Fixed Income,
News,
Syndicated Bonds,
syndicated,
research,
market update
JEROME POWELL SIGNALED A RATE CUT IS LIKELY IN JULY
citing the Fed will
“act as appropriate to sustain the expansion” despite global weakness and the ongoing trade spat.
“Manufacturing, trade and investment are weak all around the world ... We have agreed to begin (trade) discussions again with China, and that is a constructive step. It doesn’t remove the uncertainty.”
Gold rallied 1.33 percent following Powell’s
dovish remarks
and the major indices finished near all-time highs.
The 10-year note dipped 0.3 basis points
. S&P
+0.45%,
DOW +0.29,
NASDAQ
+0.77%
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Topics:
Investment Grade,
Loans,
Analytics,
bonds,
junk bonds,
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News,
Syndicated Bonds,
syndicated,
research,
market update
INVESTMENT-GRADE BONDS edged out high yield debt in net prices linked to actual trades. The
UK economy rebounded after contracting 0.4 percent in April
expanding by 0.3 percent in May
lifted by a
jump in auto production.
“While all of this is ultimately
a temporary phenomenon, the
underlying growth story
doesn’t look a whole lot better.”
FTSE 100 -0.01%,
German DAX -0.55%,
CAC 40-0.10%,
STOXX Europe 600
-0.19%. The
10-year
Gilt rose 0.3 basis points.
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Topics:
Analytics,
bonds,
junk bonds,
bond market,
corporate bonds,
market analytics,
New Issues,
News,
research,
EU,
market update,
European
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