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WORST SPATE OF DOWNGRADES SINCE 2021 SIGNALS PAIN

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✍️ Credit rating downgrades are becoming more frequent, raising concerns about corporate debt valuations.

👉 Credit rating downgrades are becoming more frequent in the US high-grade debt market. 👉 Around $94 billion of high-grade US debt was downgraded in the second quarter, compared to just $78 billion of upgrades. 👉 Corporate bond valuations are high, with US investment-grade spreads hovering around 0.8 percentage point, well below the two-decade average. 👉 Companies are vulnerable to downgrades, and "credit picking" is crucial in the current market.

-- #EricBeinstein #SilviMantri #JonCurran #OksanaAronov #SonaliPier #ChristinaPadgett #NickAdragna #PierreMorel #AlexRanson #MarcWarm #RyanWilliams #PeterYune #LizHarper #PhilTamplin #ChrisRigby #Senegal #US #Europe #Canada #UK #France #Japan #business

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Eric Beinstein Silvi Mantri Jon Curran Oksana Aronov Sonali Pier Christina Padgett Nick Adragna Pierre Morel

7/12/2025

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JPMORGAN SEES HIGH-GRADE DEBT DEMAND UP AFTER US CUT

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✍️ High-grade corporate bonds are expected to become more attractive to fund managers as bond yields rise following the US losing its top credit grading.

👉 Moody's downgraded the US credit score due to concerns about debt and deficits 👉 High-grade corporate bonds are expected to become more attractive to fund managers 👉 Bond yields are expected to rise, making high-grade corporate bonds more attractive 👉 JPMorgan strategists believe the impact on yields will be modestly higher rates

-- #EricBeinstein #NathanielRosenbaum #business

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Eric Beinstein Nathaniel Rosenbaum business mainstream:perspective

5/19/2025

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FOREIGN FUNDS SOUR ON US CORPORATE BONDS AS TRUMP SOWS CHAOS

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✍️ European and Asian money managers are showing signs of losing appetite for lending to US companies due to trade wars, potentially worrying for corporate America.

👉 European and Asian money managers are showing signs of losing appetite for lending to US companies 👉 Investors outside the US turned into net sellers of corporate debt in the first half of April 👉 The selling comes after overseas investors made record purchases of US corporate debt in 2024 👉 Official data shows the demand slowing in February, according to Citigroup 👉 Some foreign investors are guarded about jumping back into US credit after April's roller-coaster ride

-- #DonaldTrump #LotfiKaroui #GeorgeSaravelos #KenichiKuga #TorstenSlok #HansMikkelsen #EricBeinstein #NathanielRosenbaum #TetsujiSaito #US #Japan #Europe #Asia #NewYorkCity #business

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Donald Trump Lotfi Karoui George Saravelos Kenichi Kuga Torsten Slok Hans Mikkelsen Eric Beinstein Nathaniel Rosenbaum

5/3/2025

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US CREDIT RISK GAUGE SHOWS FEAR RISING AS TARIFFS LOOM THIS WEEK

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✍️ A gauge of credit risk rose on Monday as looming tariffs stoked concerns of an economic slowdown and stock markets fell.

👉 Credit risk gauge rose 2.3 basis points to 63.6 basis points 👉 Junk CDX Index fell 0.4 point to 104.8 👉 Planned 25% tariffs on auto imports could weigh on profit margins for carmakers 👉 Tariffs have pushed the S&P 500 5.1% lower in the first quarter

-- #EricBeinstein #business

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Eric Beinstein business mainstream:perspective

4/1/2025

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BONDS YIELDS DROP BELOW 4.2%, ERASING MONTHLY GAINS AHEAD OF TARIFFS

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✍️ The 10-year Treasury yield dropped below 4.2% on Monday, erasing monthly gains ahead of the implementation of new tariffs.

👉 The 10-year Treasury yield dropped below 4.2% on Monday 👉 The move erased all of this month's gain and is set to end March with essentially flat yields 👉 Lower yields are good news for existing bond investors 👉 The move suggests little optimism about the potential repercussions of tariffs