High-Yield Bond ETFs: Rush for the Exits?
February 5th at 1:00pm by John Spence
The cash outflows in the largest junk bond ETFs such as iShares iBoxx High Yield Corporate Bond (NYSEArca: HYG) and SPDR Barclays High Yield Bond (NYSEArca: JNK) have analysts wondering whether the pullback is a healthy correction after a strong rally, or a sign of something more serious in credit markets.
http://www.etftrends.com/2013/02/high-yield-bond-etfs-rush-for-the-exits/
Tuesday, February 5, 2013
Sabine Pass Liquefaction Closes USD 1.5 Billion Private Placement, USA
Sabine Pass Liquefaction Closes USD 1.5 Billion Private Placement, USA
Posted on Feb 4th, 2013
Cheniere Energy Partners said that its wholly owned subsidiary, Sabine Pass Liquefaction, has closed the previously announced private placement of $1.5 billion aggregate principal amount of its 5.625% Senior Secured Notes due 2021.
http://www.lngworldnews.com/sabine-pass-liquefaction-closes-usd-1-5-billion-private-placement-usa/
Posted on Feb 4th, 2013
Cheniere Energy Partners said that its wholly owned subsidiary, Sabine Pass Liquefaction, has closed the previously announced private placement of $1.5 billion aggregate principal amount of its 5.625% Senior Secured Notes due 2021.
http://www.lngworldnews.com/sabine-pass-liquefaction-closes-usd-1-5-billion-private-placement-usa/
Sunday, February 3, 2013
First Insights: China: First annual capital account deficit since 1998
First Insights: China: First annual capital account deficit since 1998
China’s capital account recorded a deficit of US$117bn in 2012, the first capital account deficit since 1998. Net FDI inflows rose slightly to US$180bn in 2012 from US$179bn in 2011, but were offset by net portfolio and other financial outflows.
China’s capital account recorded a deficit of US$117bn in 2012, the first capital account deficit since 1998. Net FDI inflows rose slightly to US$180bn in 2012 from US$179bn in 2011, but were offset by net portfolio and other financial outflows.
Chile: Policy minutes reflect increasing concerns about inflation
Chile: Policy minutes reflect increasing concerns about inflation
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 01 Feb 2013 14:34 |
The minutes of the January monetary policy meeting showed that the central bank is less concerned about (diminished) external downside risks to growth and increasingly worried about the implications for inflation of the persistently robust economic performance (which have not yet materialized).
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 01 Feb 2013 14:34 |
The minutes of the January monetary policy meeting showed that the central bank is less concerned about (diminished) external downside risks to growth and increasingly worried about the implications for inflation of the persistently robust economic performance (which have not yet materialized).
Is the Trend Our Friend?
Is the Trend Our Friend?
Julia Coronado - Market Economics
US Daily Spotlight | 04 Feb 2013 00:20 |
Last week’s US data provided some big headline surprises, but, on balance, provided some key signals on the state of the US recovery. While Q4 GDP surprised sharply to the downside with a small decline, December construction data on Friday already suggested a small upward revision to a flat reading. Smoothing through the Q3 and Q4 offsetting surprises, the message seems to be the underlying run rate of the economy through 2012 was about 1.5%, somewhat below our prior estimate closer to 2.0%. While January payrolls were close to expectations, benchmark revisions going back to March 2011 suggest a higher trend pace of hiring. Nonfarm payrolls averaged 181k in 2012 and 175k in 2011. This more robust estimate of hiring coupled with a gradual, steady decline in the unemployment rate suggests trend growth in the US may be slower than most current estimates.
Julia Coronado - Market Economics
US Daily Spotlight | 04 Feb 2013 00:20 |
Last week’s US data provided some big headline surprises, but, on balance, provided some key signals on the state of the US recovery. While Q4 GDP surprised sharply to the downside with a small decline, December construction data on Friday already suggested a small upward revision to a flat reading. Smoothing through the Q3 and Q4 offsetting surprises, the message seems to be the underlying run rate of the economy through 2012 was about 1.5%, somewhat below our prior estimate closer to 2.0%. While January payrolls were close to expectations, benchmark revisions going back to March 2011 suggest a higher trend pace of hiring. Nonfarm payrolls averaged 181k in 2012 and 175k in 2011. This more robust estimate of hiring coupled with a gradual, steady decline in the unemployment rate suggests trend growth in the US may be slower than most current estimates.
Friday, February 1, 2013
Chile Sees 2013 Copper Production Boost Contributing to Global Surplus
Chile Sees 2013 Copper Production Boost Contributing to Global Surplus
Friday February 1, 2013, 4:00am PST
By Ragnhild Kjetland - Exclusive to Copper Investing News
Even as copper producers are halting or delaying large new projects, Chile — the world’s largest source of copper — is expecting record output to push global supply above demand for the first time since 2009, potentially depressing copper prices toward the end of the year.
http://copperinvestingnews.com/13768-chile-copper-production-boost-2013-contributing-global-surplus-bhp-anto-price.html
Friday February 1, 2013, 4:00am PST
By Ragnhild Kjetland - Exclusive to Copper Investing News
Even as copper producers are halting or delaying large new projects, Chile — the world’s largest source of copper — is expecting record output to push global supply above demand for the first time since 2009, potentially depressing copper prices toward the end of the year.
http://copperinvestingnews.com/13768-chile-copper-production-boost-2013-contributing-global-surplus-bhp-anto-price.html
Thursday, January 31, 2013
Market Trend: New York City's Office Vacancy Decreases to 7.4%
Market Trend: New York City's Office Vacancy Decreases to 7.4%
Net Absorption Positive 990,481 SF in the Quarter
By Justin Sumner
January 31, 2013
The New York City Office market ended the fourth quarter 2012 with a vacancy rate of 7.4%.
The vacancy rate was down over the previous quarter, with net absorption totaling positive 990,481 square feet in the fourth quarter. That compares to negative 575,819 square feet in the third quarter. Vacant sublease space increased in the quarter, ending the quarter at 4,944,077 square feet.
http://www.costar.com/News/Article/Market-Trend-New-York-Citys-Office-Vacancy-Decreases-to-74/145256
Net Absorption Positive 990,481 SF in the Quarter
By Justin Sumner
January 31, 2013
The New York City Office market ended the fourth quarter 2012 with a vacancy rate of 7.4%.
The vacancy rate was down over the previous quarter, with net absorption totaling positive 990,481 square feet in the fourth quarter. That compares to negative 575,819 square feet in the third quarter. Vacant sublease space increased in the quarter, ending the quarter at 4,944,077 square feet.
http://www.costar.com/News/Article/Market-Trend-New-York-Citys-Office-Vacancy-Decreases-to-74/145256
First Insights: China: Surprise fall in official PMI
Economics Research | Asia Ex-Japan
01 February 2013
First Insights: China: Surprise fall in official PMI
China’s official PMI dropped surprisingly to 50.4 in January from 50.6 in December (Consensus 51.0, Nomura 50.9), which casts some doubt on the strength and sustainability of the growth recovery.
Sub-indexes show mixed signals. Output was down to 51.3 from 52.0, but new orders rose to 51.6 from 51.2 and while inventories of finished goods fell to 47.4 from 49.4, which suggests that the PMI may improve next month.
The improvement of new orders was mostly driven by domestic demand as export orders fell. Input prices rose sharply to 57.2 from 53.3, reinforcing our view that inflation may surprise on the upside in 2013.
Economists
Zhiwei Zhang
01 February 2013
First Insights: China: Surprise fall in official PMI
China’s official PMI dropped surprisingly to 50.4 in January from 50.6 in December (Consensus 51.0, Nomura 50.9), which casts some doubt on the strength and sustainability of the growth recovery.
Sub-indexes show mixed signals. Output was down to 51.3 from 52.0, but new orders rose to 51.6 from 51.2 and while inventories of finished goods fell to 47.4 from 49.4, which suggests that the PMI may improve next month.
The improvement of new orders was mostly driven by domestic demand as export orders fell. Input prices rose sharply to 57.2 from 53.3, reinforcing our view that inflation may surprise on the upside in 2013.
Economists
Zhiwei Zhang
Eco Analysis - Impressive German labour data (M. Martinez, A. Annenkov)
Eco Analysis - Impressive German labour data (M. Martinez, A. Annenkov)
Hard data once gain underlined the growing divergences between the French and German economies. German labour data proved very impressive and the unemployment rate dropped to a 20 year low in January (6.8% in January. Meanwhile, French consumption was flat in Q4 12 and details suggest that it is likely to remain sluggish in Q1 13.
Hard data once gain underlined the growing divergences between the French and German economies. German labour data proved very impressive and the unemployment rate dropped to a 20 year low in January (6.8% in January. Meanwhile, French consumption was flat in Q4 12 and details suggest that it is likely to remain sluggish in Q1 13.
Subscribe to:
Posts (Atom)