Post Archive

Ноябрь 2015

Plummeting oil and gas prices pushed the percentage of junk bonds trading at distressed levels to the highest since the markets were recovering from the financial crisis, according to Standard & Poor’s. The ratings firm’s so-called distress ratio increased to 20.1 percent in November, up from 19.1 percent in October and the most since September 2009, when it hit 23.5 percent. The ratio is calculated by dividing the number of distressed securities by the total amount of speculative-grade debt outstanding. “The oil and gas sector accounted for 113 of the 361 issues in the distress ratio, because drops in oil

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Growth in investments limited by uneven consumer demand, global turmoil Business investment across the U.S. is fizzling out. Companies appear reluctant to step up spending on the basic building blocks of the economy, such as machines, computers and new buildings. The broadest measure of U.S. business investment advanced 2.2% from a year earlier in the third quarter, the Commerce Department said last week, marking one of the worse performances of the six-year-old economic expansion. Other measures show an even gloomier picture. A gauge of capital expenditures—orders for nondefense capital goods excluding aircraft—declined 3.8% through the first 10 months of the

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One week ago, gold market observers were surprised when in the span of four days, gold held in the JPM Comex vault declined by nearly 50%, starting on November 16 when the 668,498 ounces held in the vault below 1 Chase Manhattan Plaza declined precipitously to just 347,899 ounces, a new all time low. Furthermore, as of the latest Comex activity update, on Friday the Registered gold held by JPM dropped another 2,802 ounces to a record low and virtually negligible 7,975 ounces, essentially equivalent to zero as shown in the chart below, even as JPM’s eligible gold has also

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Emerging-market corporate defaults hit their highest level in six years HONG KONG — A Chinese fishing company’s failure to repay its lenders this month could prove to be a drop in an ocean of emerging-market corporate-debt defaults, as economic conditions worsen for companies that have spent years piling up their borrowing. Defaults are already mounting as companies struggle to generate enough cash to meet their interest costs and repayments. The dollar’s strength is exacerbating the problems for companies that borrowed in the U.S. currency. Corporate defaults in emerging countries have hit their highest level since 2009 this year, and are

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GPIF lost 8 trillion yen on Japanese, foreign stock holdings Fund posts worst return in comparable data starting 2008 The world’s biggest pension fund posted its worst quarterly loss since at least 2008 after a global stock rout in August and September wiped $64 billion off the Japanese asset manager’s investments. The 135.1 trillion yen ($1.1 trillion) Government Pension Investment Fund lost 5.6 percent last quarter as the value of its holdings declined by 7.9 trillion yen, according to documents released Monday in Tokyo. That’s the biggest percentage drop in comparable data starting from April 2008. The fund lost 8

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Gold declines to five-year low on Friday as dollar advances `Where is all this value that people promised?’ Randgold CEO Half of the gold coming from mines may not be viable at current prices, underscoring the industry’s need for consolidation and output cuts, according to the best-performing producer of the metal in the past decade. “The more we continue to produce unprofitable gold, the more pressure we put on the gold price,” Randgold Resources Ltd. Chief Executive Officer Mark Bristow said in an interview in Toronto on Friday. “In the medium term, it’s a very bullish outlook for the gold

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