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Stocks struggled to make progress after a recent rally that brought the market close to its all-time highs. The S&P 500's winning streak was interrupted by a drop in equities, but it had previously gained almost 8% in just eight days. Citigroup Inc. strategists noted that nearly $16 billion in new long bets have been added to S&P 500 futures, driving positioning to extended levels. While some experts believe a breather for the equity market would be healthy, others anticipate ongoing stock-market strength. [Extracted from the article]

Stocks struggled to make progress after a strong rally, with the S&P 500's nine-day winning streak coming to an end. The market saw a rapid turnaround from the extreme negative momentum of early August, driven by improved investor sentiment and strong flows. The recent rally was fueled by bets that the Federal Reserve will signal a rate cut, and investors are closely watching upcoming payrolls revisions. While the market took a breather, experts remain cautiously optimistic about ongoing stock market strength. [Extracted from the article]

Goldman Sachs Group Inc. now sees a 15% chance the US will slide into recession, down from 20% previously as cooling inflation and a still-resilient labor market suggest the Fed may not need to raise interest rates any further. (Bloomberg) -- Treasuries sank as a handful of companies flooded the market with billions of dollars in debt sales before this month's key economic data and the Federal Reserve's rate decision. [Extracted from the article]

INCOME INVESTING Jeffrey R. Kosnett Time to Consider Foreign Bonds I normally dismiss international bonds and bond funds, whether denominated in U.S. dollars or in native currencies. (Note that most major-market international bond funds hedge the dollar.) Consequently, for the first 10 weeks of 2023, scores of big international bond funds are in the green, including PIMCO INTERNATIONAL BOND (PFOAX), up 1.1%, and VANGUARD TOTAL INTERNATIONAL BOND INDEX (VTIBX), ahead 0.88%. [Extracted from the article]

(Bloomberg) -- A renewed bout of selling hit the Treasury market, with factory data offering little comfort on the inflation front and a slew of companies considering debt sales before this week's Federal Reserve decision. Stock investors holding on to hopes the Fed will cut rates in the second half could be disappointed this week, according to Morgan Stanley's Michael Wilson. [Extracted from the article]

Issuers should be disclosing their reserves on "a daily basis", said Bill Cannon, head of ETF portfolio management at crypto asset manager Valkyrie. Keywords: %XDT; %XUC; %XUT; 0890888DID; 0899303D; 1624511D; 19963Z; ALLTOP; BON; BUSINESS; COS; ETF; EUROPE; FIN; GOV; INDUSTRIES; MARKETS; TEC; TECSVC; TOP; UK; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN %XDT %XUC %XUT 0890888DID 0899303D 1624511D 19963Z ALLTOP BON BUSINESS COS ETF EUROPE FIN GOV INDUSTRIES MARKETS TEC TECSVC TOP UK WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU As crypto's most traded tokens, stablecoins have ballooned in circulation under a relatively light-touch regulatory regime. Following its fine last year, the issuer said it planned to reduce its commercial paper holdings over time in favor of more liquid assets like US Treasury bills. [Extracted from the article]

The Internationational Organisation of Securities Commissions (IOSCO) has warned on the use of credit sensitive rates (CSRs), days after the cessation of the US dollar Libor rate. In statement published on Monday, Madrid-based IOSCO warned that it sees similar risks to the use of Libor in the rates, as opposed to the so called risk free Secured Overnight Financing Rate (SOFR) preferred by regulators. Further, gaps in data and volatility related to reliance on a very small number of transactions mean that US dollar Libor alternatives based on these markets are unlikely to sufficiently implement the IOSCO's Principles relating to benchmark design.". [Extracted from the article]

Keywords: ALLTOP; ASIA; BON; BUSINESS; CMD; FRX; GLOBALMACR; GOV; MARKETS; NORTHAM; NRG; OIL; STK; US; WORLD; WRP; WWTOP EN ALLTOP ASIA BON BUSINESS CMD FRX GLOBALMACR GOV MARKETS NORTHAM NRG OIL STK US WORLD WRP WWTOP Stocks fell in Asia on Friday amid fears of an economic downturn as monetary policy tightens to fight high inflation. Some of the main moves in markets: Stocks S&P 500 futures rose 0.4% as of 11:57 a.m. in Tokyo. [Extracted from the article]

Some of the main moves in markets: Stocks S&P 500 futures rose 0.5% as of 10:42 a.m. in Tokyo. Keywords: ALLTOP; ASIA; BON; BUSINESS; CMD; FRX; GLOBALMACR; GOV; MARKETS; NORTHAM; NRG; OIL; STK; TOP; US; WORLD; WRP; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BON BUSINESS CMD FRX GLOBALMACR GOV MARKETS NORTHAM NRG OIL STK TOP US WORLD WRP WWTOP WWTOPAM WWTOPAS WWTOPEU Stocks fell in Asia on Friday amid fears of an economic downturn as monetary policy tightens to fight high inflation. [Extracted from the article]

Microsoft Corp. became the latest US firm to make headlines for pointing a finger at the surging greenback, accusing it of eating away at its profits in a rare mid-season earnings forecast revision. A spokesperson for Biogen declined to comment beyond the firm's May earnings call, in which executives noted that the stronger dollar would result in a revenue hit of about $120 million after hedging. "The dollar might have even had a stronger quarter than we did, which is kind of amazing", co-Chief Executive Officer Marc Benioff said on the company's May 31 earnings call. [Extracted from the article]

The Goldman team advises buying U.S. dollar five-year five-year breakevens on a bet inflation will accelerate, and the Federal Reserve's reluctance to tighten aggressively will see markets demand more compensation for the risk it will quicken even further. (Bloomberg) -- Goldman Sachs Group Inc.'s top trade ideas for 2022 factor in the idea that markets face a "lower-octane" phase of the worldwide recovery. That's partly on a bullish view on oil and Australia's exposure to metals prices and downside risks to China's economy. [Extracted from the article]

(Bloomberg) -- One of Brazil's largest independent hedge-fund managers is looking to profit off of the most hawkish central bank in Latin America. Earlier this month, Brazil's central bank delivered its most aggressive hike in almost two decades, pushing the Selic rate to 5.25% from 4.25%, in order to fight soaring inflation. [Extracted from the article]

(Bloomberg) -- Deutsche Bank AG sold its first Additional Tier 1 bond since 2014, as signs of progress in a turnaround bolster the appeal of the high-coupon notes. The 6% yield on Deutsche Bank's new AT1 compares with an average yield of 2.57% on U.S. high-grade corporate bonds and an average yield of about 4% for dollar AT1s, based on Bloomberg Barclays data. [Extracted from the article]

Argentina's recently restructured international bond curve looks further than ever from the 10% yield target that the finance minister had set. New currency controls aimed at halting the decline in international reserves have had a catastrophic impact on both corporate and sovereign bond markets, and are likely to spell major trouble in the long term, said analysts. [ABSTRACT FROM AUTHOR]

The article reports on the move by Indonesia-based telecommunications company Indosat to select banks to arrange a bond issue denominated in U.S. dollars.

The article offers information on the U.S. dollar-denominated global bond issues of Inter-American Development Bank arranged by HSBC, UBS, JPMorgan and Morgan Stanley on February 9, 2010. The bonds were rated at Aaa/AAA/AAA with the total amount of 1.5 billion dollars. They will mature on February 14, 2020 and payment date is on February 17, 2010. Their issue/re-offer price is 99.533 with a coupon of 3.875%.

The article provides information on U.S. dollar-denominated corporate bonds issued in February 2007. Lead managers of a deal secured by Hewlett-Packard were Citigroup, Deutsche Bank and JP Morgan. The first dollar transaction by Vodafone since the first quarter of 2006 was able to raise $3.5 billion in a day.

The article presents an update on corporate bonds issued in U.S. dollars as of November 2006. The maturity of a $300 million bond issued by Black & Decker Corp. will be on November 15, 2016. The joint bookrunners of bonds issued by Comcast Corp. on November 20 are Bank of America, JP Morgan and Wachovia. A $2 billion bond issued by Sprint Nextel Corp. on November 16 went exceptionally well.

The article presents information on corporate bond deals of ConocoPhillips Canada Funding Co. II and Toyota Motor Credit Corp. (TMCC) in U.S. dollars. Included among the ConocoPhillips bookrunners are Bank of America, Deutsche Bank and Union Bank of Switzerland. Pricing of the deal is done fairly. The rating of the TMCC deal is Aaa and AAA.

The article presents updates on corporate bonds issued in U.S. dollars. It is said that Diageo Capital PLC was able to come at a narrow new issue concession and established global benchmarks. It is expected that the bonds in a transaction of Total Capital will sell to retail names.

The article provides information on U.S. dollar corporate bonds issued by Abbott Laboratories. The launch date of the bonds was on May 9, 2006. Bookrunners of the deal include ABN Amro and Morgan Stanley. About 80 to 85 percent of the transaction was sold into the U.S.

The article presents information on the U.S. dollar-denominated corporate bond issued by Residential Capital Corp. on April 11, 2006. It consists of three tranches including $750 million senior debt, $1.75 billion senior debt and $1 billion lower tier two capital tranche. Citigroup issued guidance on the three tranches at 165 basis point on the seven year. Over 200 accounts participated in the seven year fixed rate tranche that resulted to $1.75 billion according to HSBC.

Presents updates on several corporate bonds issued in U.S. dollars as of February 2006. Information on the ratings of bonds issued by Cisco Systems Inc.; Estimated number of investors in the book of iStar Financial Inc.; Increase in the value of a five year tranche from Residential Capital.

Corporate bond bankers in the US are predicting a further 10% fall in dollar supply in 2019 as more volatility and an expected fall in US M&A activity hits issuance. The predictions come after supply for December hit its lowest level on record. [ABSTRACT FROM AUTHOR]

Japan Tobacco took the rare step of issuing corporate bonds in three different currencies on the same day when it sold its debut euro and sterling bond deals alongside a pair of dollar tranches this week. The unusual move proved to be a successful one however, with each tranche at least three times subscribed. [ABSTRACT FROM AUTHOR]

The article focuses on the southeast Asian bond market in 2015 and factors which could impact bond performance. It states from 2005-2014 the annual bond issuance for southeastern Asian nations grew from 38 billion to 109 billion dollars while corporate bond issuance grew from 20 billion to 78 billion dollars. It mentions factors behind the Asian financial crisis of 1997-1998 which was caused by a strengthening U.S. dollar and speculates on the impact increased U.S. interest rates will have.

Moneda Asset Management SA predicts high-yield Argentine and Dominican corporate bonds will outperform peers. After buying fewer Brazilian bonds than the benchmark index for the region's debt, Moneda has increased purchases of the country's high-yield bonds in recent months, Tisne said. [Extracted from the article]

Italian construction group Astaldi’s bonds have taken a beating on concerns that its exposure to Turkish risk could derail plans for injection of needed capital. For some high yield investors, it also is a reminder of market vulnerabilities ahead. [ABSTRACT FROM AUTHOR]

Daimler and Schlumberger joined the Yankee dollar rush this week as corporate bond yields hit record lows and investors continued to load up on safe-haven high grade paper. [ABSTRACT FROM AUTHOR]

The article announces the appointment of Barclays Capital, Deutsche Bank, Mitsubishi UFJ, Qatar National Bank, Standard Chartered and Royal Bank of Scotland as lead arrangers to Qatar Telecom's dollar benchmark bond.

The article reports that corporate bonds have broken through the one trillion U.S. dollar mark for the first time in 2009. According to data from Dealogic, the tightening spreads over the last few months have not hindered record issuance. There has been a 22% increase in the issuances of non-financial corporates, which raised 1.1 trillion U.S. dollars. A warning was issued by bankers about the reopening of the primary market in September 2009.

The article presents a commentary on the U.S. dollar bond issued by E.On International Finance on June 10, 2009. Morgan Stanley and UBS served as bookrunners for the deal. The borrower said it was their first Eurodollar transaction and given where the basis swap is the market offered them a great opportunity for funding. It was priced at 70 basis points (bp) over mid-swaps, which came through the euro secondary curve. According to the bookrunners, E.On is in a very comfortable position and has done plenty of funding.

The article presents a commentary on the U.S. dollar bond issued by BP Capital Markets on June 8, 2009. Morgan Stanley and UBS served as bookrunners for the deal. They said it was a traditional Eurodollar deal, targeting Swiss retail investors. Based on investor feedback, the guidance was tightened to 70 basis points (bp)-75 bp over mid-swaps and the book grew to over $400 million. It was increased to $325 million at 70bp over and most went to Swiss retail accounts.

The article reports on the slow activity in the U.S. dollar corporate bond market as of June 2008. The market saw less than $10 billion bond which includes the $1.75 billion preferred deal for Allianz led by Citigroup and Merrill Lynch. Among the companies that have successful transactions were Suncor Energy and South Western Electric Power. The planned $250 million 10 year bond issue by American Financial Group was cancelled due to market conditions.

The article offers information on the dollar-denominated bond issued by Export Development Canada (EDC) on March 27, 2007. The bond was rated Aaa/AAA and priced at $1 billion. The company stated that its balance sheet is in U.S. dollars and raises funds in the international capital markets which provide investors with the opportunity to purchase Canada sovereign credit. Bookrunners stated that the joint lead book of the deal involved 55 separate investors.

The article offers information on the U.S. dollar-denominated bonds issued by Verizon on March 29, 2007. It includes a $500 million tranche and two $750 million tranches managed by companies including Barclays Capital, Goldman Sachs and Wachovia Bank. Barclays Capital stated that the lead managers offered a two year floater. It added that the move to offer a short dated floater allows Verizon to reduce some pressure from the fixed rate side due to strong floating rate market.

The article offers information on the U.S. dollar-denominated bonds issued by Wal-Mart on March 29, 2007. The transactions were managed by Deutsche Bank, JP Morgan and Lehman Brothers. Lehman Brothers cited that the proceeds will be used to refinance short term debt. The lead manager added that about 25% of the deal was sold to Asia.

The article reports that Gazprom has managed to attract the equivalent of $4.5 billion of orders for its dual tranche trade. The deal comprised $1.3 billion 15 year and €500 million 10 year prints. Lead managers Credit Suisse and Morgan Stanley set price talk on the euro trade at 125 basis points (bp)-130bp over mid-swaps and at 195bp over U.S. Treasury for the dollar tranche. Dollar tranche was priced in line with guidance while the euro deal was printed at 125bp over mid-swaps.

The article presents information on the U.S. dollar-denominated bond issued by American Express Credit Corp. Lead managers of the transaction were ABN Amro and Credit Suisse. The deal ended up being the largest unsecured floating rate note they have ever issued. The bond issue traded at approximately 11 basis point (bp) and 11.5bp.

The article presents an update on the corporate bonds in U.S. dollars issued in February 2007. Ambac Financial Group launched a $400 million hybrid capital with an issue/re-offer price of 99.335. Anheuser-Busch Cos. secured Barclays, Citigroup and Sun Trust as its lead managers on the deal worth $300 million. General Electric Capital Corp. issued a $500 million Eurodollar with an issue price of 101.334.

The article focuses on the U.S.-dollar denominated corporate bond launched by National Grid on July 19, 2006. The issue price is 99.785 with maturity date on August 1, 2016. Joint bookrunners include Citigroup, JP Morgan and Merrill Lynch. The bookrunners had guidance of 130 basis points (bp) and priced at 127bp.