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Bonds Junk Bonds

  • 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...

  • LONDON, March 29- On the face of it, the first quarter of the year followed the' risk on' script. U.S. stocks surged to new highs, the Federal Reserve raised interest rates, high yield debt rallied yet again and Wall Street volatility slumped to its lowest in a decade. Investors piled into riskier, high-yielding assets at the expense of safe-haven bonds on the view that...

  • LONDON, March 29- On the face of it, the first quarter of the year followed the' risk on' script. U.S. stocks surged to new highs, the Federal Reserve raised interest rates, high yield debt rallied yet again and Wall Street volatility slumped to its lowest in a decade. Investors piled into riskier, high-yielding assets at the expense of safe-haven bonds on the view that...

  • NEW YORK, March 16- Investors recoiled from debt issued by low-rated companies during the latest week, pulling the most cash since August 2014 from U.S.-based, high-yield bond funds, Lipper data showed on Thursday. Stock funds posted $72 billion in withdrawals last year, while bonds attracted $190 billion, according to ICI, a trade group. Mohamed El-Erian, chief...

  • NEW YORK, March 15- Markets are emboldened by the tone of monetary policymakers following an interest rate hike on Wednesday, but now is not the time to take on more risk in U.S. corporate debt, top BlackRock Inc bond investor Rick Rieder said. BlackRock managed more than $5.1 trillion in assets on Dec. 31. Rieder said on Feb. 1 the Fed would raise rates three or four times...

  • NEW YORK, March 15- Markets are emboldened by the tone of monetary policymakers following an interest rate hike on Wednesday, but now is not the time to take on more risk in U.S. corporate debt, top BlackRock Inc bond investor Rick Rieder said. BlackRock managed more than $5.1 trillion in assets on Dec. 31. Rieder said on Feb. 1 the Fed would raise rates three or four times...

  • NEW YORK, March 9- Investors are spurning U.S.-based high-yield junk bond funds, Lipper data showed on Thursday, as they keep gobbling up stocks and other risky assets. High-yield bond funds posted $2.1 billion in net withdrawals during the week ended March 8, the most since November 2016, the data showed. Crude fell this week to prices not seen since a pact led by the...

  • PARIS, March 7- Shares in French retailer Casino fell on Tuesday after analysts said the company's profit growth forecast for 2017 was not as robust as they had hoped. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticised by U.S. activist fund Muddy Waters, is under pressure to show it can revive profits in France at...

  • For 2017, Casino predicted growth of at least 10 percent in group operating profit at current exchange rates, having achieved a 3.7 percent rise in 2016 despite a weak performance in Brazil, its second-largest market after France. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and has been criticised by U.S. activist fund Muddy...

  • PARIS, March 7- French retailer Casino said on Tuesday it aimed to continue growing sales and earnings in 2017 thanks to cost savings and improving sales in France and Brazil, as it posted higher annual profits. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and has been criticised by U.S. activist fund Muddy Waters, is under pressure to...

  • Contopoulos: Hide out in high yield

    Michael Contopoulos, Bank of America Merrill Lynch, discusses why high-yield bonds, or junk bonds, may be a safety play for investors amid high risk.

  • Casino, whose credit rating was cut to junk by Standard& Poor's last March, is under pressure to revive profits in its biggest market in France, where it now makes more than 50 percent of its sales, at a time of slower growth in Brazil. Casino, which controls Brazil's Grupo Pao de Acucar, posted fourth-quarter sales of 10.929 billion euros. Casino, which reports...

  • U.S.-BASED HIGH-YIELD BOND FUNDS ATTRACT $734 MLN OVER WEEKLY PERIOD; INVESTMENT-GRADE FUNDS ADD $2.2 BLN- LIPPER.

  • U.S.-BASED HIGH-YIELD BOND FUNDS ATTRACT $592 MLN OVER WEEKLY PERIOD; INVESTMENT-GRADE FUNDS ATTRACT $1.2 BLN- LIPPER.