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Bonds Junk Bonds

  • JOHANNESBURG, April 6- Ratings agency Fitch is likely to follow rival S&P and cut South Africa's sovereign credit rating to below investment-grade, analysts said, an outcome that would underscore worries about political uncertainty and prompt a further selloff in assets. S&P Global Ratings cut South Africa's foreign currency debt to speculative grade or "...

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • LONDON, April 5- If South Africa loses two of its prized investment grade credit ratings for foreign and local currency borrowing in the turmoil triggered by the sacking of the finance minister, the country could lose more than $10 billion in investment funds. Moody's later placed South Africa on review for downgrade. Being downgraded to junk by at least two...

  • JOHANNESBURG, April 5- South Africa's rand and government bonds weakened on Wednesday, giving up earlier gains, after the ruling African National Congress Party rejected calls for President Jacob Zuma to quit. Zuma's decision last week to fire a respected finance minister rattled markets and led to the country's debt being downgraded to junk status by S&P...

  • NEW YORK, April 4- There is no risk of a high-yield junk bond "meltdown" because the risk of a recession is low, Jeffrey Gundlach, chief executive of DoubleLine Capital, said on a client webcast on Tuesday. Gundlach, who oversees more than $105 billion in assets at Los Angeles- based DoubleLine, also said he does not think financial markets will see 3 percent on the 10-...

  • PRETORIA, April 4- The deputy governor of South Africa's central bank said on Thursday the downgrade of the country's credit rating to junk status by S&P was a "serious set back", and that the bank was ready to act if the political events caused the favourable rates outlook to reverse. "It is a serious setback for the country. We will now need to redouble our efforts in...

  • JOHANNESBURG, April 4- President Jacob Zuma said South Africa's fiscal policies will not change and that people should remain calm after its credit rating was cut to junk following a political reshuffle that he defended as bringing new blood into the cabinet. But moments later, the ANC-allied Cosatu, South Africa's largest trade union, said Zuma must step down...

  • JOHANNESBURG, April 4- South Africa's largest trade union and ally to the ruling African National Congress Cosatu said on Tuesday that President Jacob Zuma must step down after his change of finance ministers triggered a credit rating downgrade to "junk".

  • JOHANNESBURG, April 4- South Africa's rand, bonds and banking shares tumbled sharply on Tuesday after S&P Global Ratings cut the country's credit rating to junk in response to President Jacob Zuma's move to sack its respected finance minister. Zuma's cabinet reshuffle has triggered public criticism from within the ruling African National Congress and...

  • JOHANNESBURG, April 3- S&P cut South Africa's credit rating to junk status on Monday, saying the dismissal of its respected finance minister heralded a damaging policy shift, while President Jacob Zuma readied for a showdown with other ANC leaders over the sacking. In an unscheduled review that prompted a selloff in South African assets, the credit agency...

  • JOHANNESBURG, April 3- S&P cut South Africa's credit rating to junk status on Monday, saying the dismissal of its respected finance minister threatened a damaging policy shift, while President Jacob Zuma readied for a showdown with other ANC leaders over the sacking. In an unscheduled review that prompted a selloff in South African assets, the credit agency...

  • JOHANNESBURG, April 3- S&P cut South Africa's credit rating to junk status on Monday, saying the dismissal of Pravin Gordhan as finance minister threatened a damaging policy shift, while President Jacob Zuma readied for a showdown with other ANC leaders over the sacking. "This has increased the likelihood that economic growth and fiscal outcomes could suffer,"...

  • JOHANNESBURG, April 3- South Africa's Treasury is committed to a responsible fiscal path following S&P Global Ratings decision to cut the country's sovereign credit rating to "junk," it said on Monday.

  • NEW YORK, March 31- Third Avenue Management and its founder Martin Whitman have reached a $14.25 million settlement of a lawsuit by investors who accused the well-known value investment firm of mismanaging a junk bond mutual fund that collapsed in December 2015. The preliminary all-cash settlement was filed on Friday with the U.S. District Court in Manhattan,...

  • JOHANNESBURG, March 31- New South African Finance Minister Malusi Gigaba got a sceptical welcome on financial markets on Friday, with fears growing that budget discipline will falter despite a risk that the country's credit rating will be downgraded to "junk" status. Economists and political analysts questioned the credentials of Gigaba, until now the home...

  • Weather storm California

    Fundstrat says junk bond investor outflows reached nearly $6 billion in the past month.

  • CHICAGO, March 30- Illinois' already low credit rating could be downgraded if the state does not end its record-breaking budget impasse over the next two months, Moody's Investors Service said on Thursday. Moody's rates Illinois Baa2, which is just two steps above the junk level and is the lowest rating among the 50 states. If Illinois begins a third straight...