U.S. Treasury securities might be losing their luster as a conventional safe-haven asset, a new report by the Institute of International Finance (IIF) says. The United States was one of the few nations to witness an outflow of foreign investment in governments bond in 2020, according to the Washington-based trade association for the global financial services…
US Treasurys May Be Losing Safe-Haven Status, New Study Says
U.S. Treasury securities might be losing their luster as a conventional safe-haven asset, a new report by the Institute of International Finance (IIF) says. The United States was one of the few nations to witness an outflow of foreign investment in governments bond in 2020, according to the Washington-based trade association for the global financial services…
Stocks and Bonds Reel Under Stagflation Threat
October 12, 2021
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Asia & PacificbondsBusiness & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyEuropeInternationalInvestmentMarket WatchMarketsstagflationstocksthreatUKUSUS NewsWorld
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LONDON—A selloff in global stocks extended into Tuesday on signs that soaring energy prices had put a dampener on economic growth, while inflation and policy-tightening fears sent short-dated U.S. Treasury yields to 18-month highs. Oil prices rose further, with Brent crude at almost $89 a barrel. Coal has scaled record peaks and, while gas prices…
Evergrande Suspends Bond Trading After Latest Downgrade
September 16, 2021
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Asia & PacificbondsBusiness & EconomyChinaChina Business & EconomyCompaniesdowngradeEconomiesevergrandeMarketsWorld
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Cash-strapped Chinese developer Evergrande Group has applied for a suspension of trade of its onshore corporate bonds on Sept. 16, following a ratings downgrade a day earlier. Hengda Real Estate Group, the property service provider and a subsidiary of Evergrande, found on Wednesday that its bonds’ ratings had been downgraded from AA to “A.” According…
China Evergrande Debt Woes Raise Financing Pressure on Peers
SHANGHAI—The Evergrande Group’s struggles to quickly sell off assets and avert defaulting on its $305.3 billion in liabilities is raising the risk of contagion for other privately-owned developers and fund managers analysts say. Worries over the ability of China’s second-largest property developer to make bank loan interest and wealth management product payments have led to…
Low Bond Yields Mean Weak Growth
Commentary Central banks should know by now that you cannot have negative interest rates with low bond yields and strong growth. One or the other. Central banks have chosen low bond yields at any cost, despite all the evidence of stagnation ahead. This creates enormous problems and perverse incentives. It’s not a surprise that markets…
Beyond the Dollar: China’s Plan to Replace US Treasuries
News Analysis Beijing experienced limited success in its quest to overtake the U.S. dollar as the global trade currency. But it may have an easier time convincing the world of its government bonds as an investment alternative to U.S. treasuries. So far in 2021, Chinese government bonds have far exceeded the performance of their U.S….
Homelessness, COVID-19, and Rising Cost of Employees Hurt L.A. Finances
February 1, 2021
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Analysisbondsbudgetcity controllerCity CouncilfinanceshomelessnessLos Angeles CountyNY-CalOpinionSouthern CaliforniaUS
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Commentary Los Angeles city controller Ron Galperin has released his office’s annual Comprehensive Annual Financial Report for fiscal year 2020 and provided an update on how things in the current fiscal year. As expected, it’s bad. During fiscal year 2020, the general fund shrank 9.8 percent from $1.1 billion in July 2019 to just $992…
Chinese Firms Owe Roughly $24 Billion in Overdue Credit Bonds
The latest indicator of China’s economic woes is the number of credit bonds nationwide that could not be repaid on time—164 of them, involving a sum of 160 billion yuan (about $24.43 billion). Borrowers include state-run enterprises who were previously rated AAA by Chinese bond rating agencies. The Chinese market has three types of bonds:…
Costa Mesa Receives Outstanding Credit Rating Amid Pandemic
Costa Mesa received an impressive credit rating during the most recent fiscal year, despite challenges brought on by the ongoing COVID-19 pandemic. The city received an AA+ rating from Standard and Poor’s (S&P) for the 2019–2020 fiscal year that ended June 30, for its 2017 Lions Park Project bonds. The Lions Park Project is a…
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