Last week, the world began to wake up to the fact that all of the “Chicken Littles” screaming that the sky is falling in high yield were right. There was Third Avenue which announced it would gate investors in a $788 million mutual fund on the way to liquidating over the next several months (as…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 -0.19%) are up +0.06% and European stocks are down -0.43% as a sell-off in crude oil (CLF16 -2.44%) to a new 6-3/4 year low drags energy producers lower. U.S. and European stocks had moved higher in overnight trade after stronger-than-expected Chinese economic data reduced global growth concerns. European stocks also received…
Crude oil price had its steepest weekly drop of 2015 to date after an economic report forecasts more doom and gloom for the ‘black gold’. The report released on Thursday by the International Energy Agency (IEA) pointed the ongoing crude oil volume glut in global markets and forecasted that it is weighing on demand levels….
The safe-haven trade dominated last week’s market activity. Investment-grade bonds in foreign and US markets delivered the only gains for the five trading days through Dec. 11, based on a set of ETFs representing the major asset classes. Leading the way: foreign corporate bonds, which gained 1.2% last week via the PowerShares International Corp Bond ETF (PICB)….
Investor attention at the end of last week’s trading was focused on the sharp sell off in high yield bonds, better know as junk bonds. This sell off was precipitated by the firm, Third Avenue, restricting redemptions on its Focused Credit Fund. Subsequent to Third Avenue’s announcement, Stone Lion Capital Partners L.P. said it suspended redemptions in…
The WTI Crude Oil market continued to fall on Friday, as this market simply cannot find any type of support. We are now well below the $36 level, and quite frankly I think the next target will be the $35 handle. I also expect that we will break down well below that as oil markets…
This is going to be one of the most important financial trading weeks of the year, given that it is likely to be the first interest-rate hike in the US in several years. It should be remembered that most of the price movement expected from this decision has already been factored into equities, commodities, indices…
The US dollar is firmer against the euro, sterling and yen, but within the ranges seen before the weekend. The greenback is softer against the dollar-bloc currencies after early gains were unwound. The biggest mover has been the South African rand, which is up a little more than 5%, retracing nearly half of last week’s losses. Under strong pressure, President Zuma…
Asian markets are dropping on Monday amid growing worries about the stability of the junk-bond market and tumbling oil prices. The declines in Asia came after the S&P fell 1.9% on Friday, the biggest daily drop since September as the price of U.S. crude oil fell below $36 a barrel. Investors were also cautious before…
Last week saw all of the major stock markets lose ground as the price of crude oil continued to fall. In Europe over the course of the week, the FTSE was down by 4.6%, it closed at 5952.8; the DAX ended at 10340, down by 3.8% on last week’s close; the CAC was down by…
