The financial position of the world’s largest oil producer has darkened as it contends with a fall in crude prices caused by the coronavirus pandemic.
Investors are pointing to one key factor lurking beneath a recent rally in U.S. speculative-grade bonds: falling real yields, which are driving those in search of higher returns to the high-yield market.
Tsinghua Unigroup, a key player in China’s push for self-reliance in semiconductors, has defaulted on a bond, adding to a recent spate of trouble in the country’s corporate debt markets.
U.S. Treasury yields jumped Monday after positive news about the potential efficacy of a Moderna Inc. Covid-19 vaccine sparked a risk-on shift in market sentiment.
Investors are losing confidence in the local governments that stand behind many of China’s corporate debt issuers.
Saudi Aramco said it aims to issue a U.S. dollar-denominated bond, as the cash-strapped oil giant cuts jobs, considers asset sales and reviews its expansion plans.
The U.S. election and good early results for a Covid-19 vaccine have given a double-boost to junk-rated companies such as American Airlines, Macy’s and Occidental Petroleum.
The yield on the 10-year Treasury note rose to 0.821% after new data showed Democratic candidate Joe Biden pulling ahead in Pennsylvania.
Generous aid to state and local governments, as well as income-tax increases making municipal bonds more attractive to investors, is less likely if Democrats fail to control both the White House and Congress.
The election-induced drop in Treasury yields rippled overseas, dragging down borrowing costs in Europe as investors wrote off hopes that a big U.S. spending package could give the global economy a jolt.
Government-bond yields dropped sharply, reflecting traders’ bets that the results from Tuesday’s election will lead to smaller economic stimulus efforts than many had expected.
Companies hit hard by the pandemic have flooded the market this year with the most convertible bonds since 2007. Investors who scooped up these securities have been rewarded with strong returns.
Expectations for a postelection surge in government spending powered the yield on the benchmark 10-year Treasury note to its biggest monthly gain in two years on Friday.
Investors are reducing bets on extreme volatility in currency markets around the U.S. presidential election.
U.S. government bond yields finished the week near multimonth highs, with the 10-year Treasury note’s above 0.8%, lifted by signs of economic recovery and hopes for fiscal stimulus before or after the presidential election.
Central banks were among the biggest buyers of European common debt this week, signaling growing trust that the euro will hold its own through the pandemic.
Analysts say the company is in danger of running out of cash without new blockbusters to attract moviegoers.
The decimated municipal-bond insurance industry is having a renaissance. Weakened by Covid-19, state and local borrowers are using insurance at their highest rates in more than a decade.
Bond yields hit their highest levels in more than four months, following signs of progress in Washington toward a deal on a roughly $2 trillion coronavirus relief package.
Greece’s borrowing costs shrank to the tightest point relative to Germany since 2009, a flashback to before last decade’s debt crisis exposed fault lines across the Continent.