US investment-grade bond yields are the lowest since 2013, at 2.73%. I'm struck by the rapidly improving financing environment for companies of all types right now, as central banks say they remain on hold for the time being after last year's additional easing. (1/2)
Two records of note for the corporate bond market in 2019, via BAML: - BBB-rated bonds now account for a record 50% of investment-grade credit. - Just 0.3% of the IG market -- a record low -- got downgraded to high-yield.
Hedgie David Einhorn is long gold and short both investment-grade and junk bonds, arguing in investor letter that "the economy appears to be decelerating"; we are late in cycle; corporate debt has "exploded"; and rating agencies have been "complacent."
We expect limited rating actions in 2020 for U.S. Health Insurers. Almost all of those we rate are rated investment grade ('BBB-' or higher). But could the resolution of legal challenges rock the boat?
Investment-grade wine has historically moved in tandem with gold, but the trade war has sent gold soaring whilst the threat of further US tariffs is depressing wine prices. @StephenWilmot
Congratulations to India for the #Moody 's credit rating upgrade. India now firmly investment grade.