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31%  
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Keyword: bonds

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  • World’s Biggest Pension Fund Loses $51 Billion in Stock Rout

    07/30/2016 6:26:17 AM PDT · by CorporateStepsister · 13 replies
    Bloomberg ^ | July 30 2016 | Yuko Takeo and Shigeki Nozawa
    Japan’s $1.3 trillion Government Pension Investment Fund lost 3.8 percent in the year ended March 31, or 5.3 trillion yen ($51 billion), the retirement manager said Friday in Tokyo. That’s the biggest drop since the fiscal year ended March 31, 2009. GPIF lost 10.8 percent on domestic equities and 9.6 percent on shares in other markets, while Japanese bonds handed the fund a 4.1 percent gain.
  • Germany Is About To Sell Zero-Coupon 10 Year Bonds For The First Time Ever

    07/13/2016 5:20:11 AM PDT · by Leaning Right · 27 replies
    Zero Hedge ^ | July 13, 2016 | Tyler Durden
    *snip* According to Bloomberg, on Wednesday morning Germany will sell 10-year bonds with a zero coupon for the first time, as a rally in fixed-income securities pushes investors to forgo annual interest payments in order to hold the safest assets.
  • Highway project delays rack up $700 million cost overruns

    06/24/2016 9:54:35 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The Milwaukee Journal Sentinel ^ | June 13, 2016 | Catie Edmondson
    Madison— Faced with delays and inflation over the past five years, four major state highway projects — including a Madison artery — have accumulated overruns in excess of $700 million. While some of these increases come from faulty cost estimates or unavoidable inflation, the new figures underline the obvious: Delays can be costly for Wisconsin taxpayers. When projects are paused because of financial challenges in the state's road fund, the price of materials, labor and real estate can rise. The numbers compiled by the Milwaukee Journal Sentinel underline the urgency of a divisive issue for Wisconsin's Republican leaders: finding a...
  • 2001 California Electricity Bonds

    06/07/2016 12:32:50 PM PDT · by sheana · 27 replies
    Vanity, need help with research ^ | June 7, 2016 | Sheana
    In 2001 Governor Gray Davis signed SBX1 6 which authorized the sale of $5 billion in bonds to purchase electricity for California. I believe these were 15 year bonds. As a result our electricity rates were tiered and prices went way up. At the time I contacted PG&E and asked them what they were doing with the extra monies. The answer.....we send it to the state to pay back the bonds. The 15 years is now up and our rates are the same. Nothing has changed. I've contacted news people and asked them to look into it...silence. I called the...
  • Five banks sued in U.S. for rigging $9 trillion agency bond market

    05/20/2016 5:49:11 PM PDT · by Lorianne · 5 replies
    Reuters ^ | 18 May 2016 | Jonathan Stempel
    Five major banks and four traders were sued on Wednesday in a private U.S. lawsuit claiming they conspired to rig prices worldwide in a more than $9 trillion market for bonds issued by government-linked organizations and agencies. Bank of America Corp (BAC.N), Credit Agricole SA (CAGR.PA), Credit Suisse Group AG (CSGN.S), Deutsche Bank AG (DBKGn.DE) and Nomura Holdings Inc (8604.T) were accused of secretly agreeing to widen the "bid-ask" spreads they quoted customers of supranational, sub-sovereign and agency (SSA) bonds. The lawsuit filed in Manhattan federal court by the Boston Retirement System said the collusion dates to at least 2005,...
  • Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

    05/01/2016 4:39:02 PM PDT · by tcrlaf · 64 replies
    Zerohedge ^ | 5-1-2016 | Durden
    Update: PR Governor Padilla has spoken... -PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW -PUERTO RICO GOVERNOR SAYS ISLAND WON'T PAY DEBT MONDAY -PUERTO RICO GOVERNOR: GOVERNMENT SIGNED MORATORIUM BILL YESTERDAY -PUERTO RICO NEEDS DEAL W/ CREDITORS AND/OR CONGRESS: GARCIA And of course, demands a bailout... -PUERTO RICO GOVERNOR CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP And then threatens... -CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP: GARCIA -PUERTO RICO GOVERNOR CONCLUDES REMARKS TO COMMONWEALTH A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.
  • Road project opponents to pay hefty fees under proposed SC law

    04/29/2016 8:02:07 PM PDT · by Tolerance Sucks Rocks · 3 replies
    Myrtle Beach Online ^ | April 6, 2016 | Audrey Hudson
    Legislation moving through the state House and Senate would require that environmental groups using the legal system to object to road construction provide a sound basis for their claim before those projects are halted. Lawmakers supporting the bill, which includes almost all of the Horry County House delegation, say the legislation is needed to prevent the process from being abused to easily block road projects, including International Drive. “I started talking to folks on the coast, and they told me how any individual can just file an automatic stay against a project to slow it down for whatever reason,” said...
  • Saudi Arabia Approves Economic Reform Program

    04/25/2016 6:40:41 AM PDT · by Tolerance Sucks Rocks · 15 replies
    The Wall Street Journal ^ | April 25, 2016 | Margherita Stancati and Dahlia Kholaif
    RIYADH—Saudi Arabia, crimped by low crude prices, approved Monday a long-term blueprint for the kingdom’s economic transformation aimed at reducing its dependence on oil. The multiyear plan, dubbed “Saudi Vision 2030,” was approved by the cabinet, according to Saudi Arabia’s monarch, King Salman. The Saudi cabinet, in a statement carried by the official Saudi Press Agency, said the government’s economic council would be in charge of overseeing the vision’s implementation. Saudi officials later Monday were to present a broad overview of the country’s most extensive economic shake-up in decades. The steep drop in oil prices has given new urgency to...
  • Chicago Debt Downgraded to Near ‘Junk Bonds’

    03/30/2016 5:42:15 AM PDT · by detective · 5 replies
    Breitbart ^ | March 29, 2016
    Fitch Ratings downgraded the City of Chicago’s credit rating to just one step above “junk bonds” on March 28.
  • Bond Guru Says Trump Nomination Could Bring Down World Economy

    03/22/2016 12:51:57 PM PDT · by Innovative · 71 replies
    Fortune ^ | March 21, 2016 | Reuters
    Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, foresees a “global growth scare” between now and the end of the summer, triggered by a presidential nomination of Donald Trump. “That is where I see the vulnerabilities,” Gundlach said in a telephone interview on Monday. Trump’s protectionist policies could mean negative global growth, Gundlach warned. “As he gets the nomination, the markets and investors are going to worry about it more. You will see a downgrading of global growth based on geopolitical risks. You must factor this into your risk-management.”
  • Foreign governments dump U.S. debt at record rate

    03/16/2016 4:26:38 PM PDT · by SkyPilot · 18 replies
    CNN ^ | 16 March 16 | Matt Egan
    In a bid to raise cash, foreign central banks and government institutions sold $57.2 billion of U.S. Treasury debt and other notes in January, according to figures released on Tuesday. That is up from $48 billion in December and the highest monthly tally on record going back to 1978. It's part of a broader trend that gathered steam last year when central banks sold a record $225 billion of U.S. debt. "Foreigners have no longer been our BFF when it comes to buying U.S. Treasuries," Peter Boockvar, chief market analyst at The Lindsey Group, wrote in a client note. So...
  • China to sack SIX MILLION state workers from its hugely inefficient state sector

    03/02/2016 4:07:30 PM PST · by Olog-hai · 12 replies
    Daily Mail (UK) ^ | 03:07 EST, 2 March 2016 | Tom Wyke for Mail Online and Reuters
    China aims to lay off 5 to 6 million state workers over the next two to three years as part of efforts to curb industrial overcapacity and pollution. The move is being seen as Beijing's boldest retrenchment program in almost two decades. China's leadership, obsessed with maintaining stability and making sure redundancies do not lead to unrest, will spend nearly 150 billion yuan ($23 billion) to cover layoffs in just the coal and steel sectors in the next 2-3 years. [...] The hugely inefficient state sector employed around 37 million people in 2013, and accounts for about 40 percent of...
  • After Original Bondholders Stiffed, GM Issues New Debt

    02/25/2016 1:08:22 PM PST · by jazusamo · 30 replies
    NLPC ^ | February 25, 2016 | Mark Modica
    "Fool me once, shame on you; fool me twice shame on me." That is a cliché that investors should keep in mind if they are considering buying into General Motors' latest debt offering. In fact, holders of GM common stock should also assess the growing similarity that New GM has with the bankrupted Old GM. GM announced last week that it will be offering an estimated $2 billion of unsecured debt to help prop up underfunded pensions with additional proceeds used for general business purposes. The move follows a contradictory continuing dialogue that proclaims the company is so cash...
  • This is How Financial Chaos Begins

    02/14/2016 8:13:53 AM PST · by Lorianne · 16 replies
    Wolf Street ^ | 12 February 2016 | Wolf Richter
    It’s not contained. There are over $1.8 trillion of US junk bonds outstanding. It’s the lifeblood of over-indebted corporate America. When yields began to soar over a year ago, and liquidity began to dry up at the bottom of the scale, it was “contained.” Yet contagion has spread from energy, metals, and mining to other industries and up the scale. According to UBS, about $1 trillion of these junk bonds are now “stressed” or “distressed.” And the entire corporate bond market, which is far larger than the stock market, is getting antsy. The average yield of CCC or lower-rated junk...
  • The Growing Public Pension and Muni Bond Bubble

    02/04/2016 6:11:39 AM PST · by artichokegrower · 18 replies
    American Thinker ^ | February 4, 2016 | Michael Bargo, Jr.
    A credit bubble is created when the amount of money borrowed exceeds the capacity of the borrower to pay it back. This concept is easy to understand, but the financial foundation of borrowing has been manipulated to an historic extreme by government. Not just through the national debt but through the agreements to create debt through public sector union contracts and municipal bond issuance.
  • In shocking move, Japan adopts negative interest rate as deflation fight falters

    01/29/2016 3:27:36 AM PST · by TigerLikesRooster · 52 replies
    Japan Times ^ | Jan 29, 2016
    In shocking move, Japan adopts negative interest rate as deflation fight falters The Bank of Japan unexpectedly adopted a negative interest rate policy Friday, stunning investors with a move aimed at shielding the country's sluggish economy from volatile markets and slowing global growth. The BOJ said it would use a three-tiered system to charge for excess reserves parked with the institution, an aggressive policy pioneered by the European Central Bank that penalizes banks for holding cash and encourages them to loan it out. "The BOJ will cut the interest rate further into negative territory if judged as necessary," the central...
  • Behold Unintended Consequences: Japan Cancels 10Y Auction For First Time Ever Due To Sub-Zero Rates

    02/02/2016 11:55:43 AM PST · by Former Proud Canadian · 31 replies
    Zerohedge ^ | February 2, 2016 | Tyler Durden
    Dear Bank of Japan, how do you spell unintended consequences: •PLANNED MARCH SALE OF 10-YEAR JAPANESE GOVERNMENT BONDS THROUGH BANKS TO BE CANCELED AMID EXPECTED BELOW-ZERO YIELDS - NIKKEI •JAPAN'S MINISTRY OF FINANCE IS EXPECTED TO ANNOUNCE WEDNESDAY THE FIRST-EVER DECISION TO CALL OFF SALES OF 10-YEAR JGBS- NIKKEI Here is the full Nikkei report on this absolute stunner of a development: The planned March sale of 10-year Japanese government bonds through banks to retail investors, municipalities and others will be canceled amid expected below-zero yields following the Bank of Japan's recent move to adopt negative interest rates. The Ministry...
  • Bill Gross on CNBC says investors should stay with U.S. Treasuries

    01/25/2016 10:26:30 AM PST · by Citizen Zed · 9 replies
    Reuters ^ | 1-19-2016
    Gross also recommended investors should consider Build America Bonds, which are taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bondholder. "There are a lot of closed-end funds that are selling 10-15 percent discounts to net asset values. That means you are buying something at 80-95 cents on the dollar," Gross said. "Some of these closed-end funds deal in, yes, relatively high-quality municipal bonds." Last year, the Janus Global Unconstrained Bond Fund outperformed a comparable fund at Gross's former employer, Pimco.
  • 2016 A BIRTHING of Unity and Oneness [Charismatic Caucus]

    01/04/2016 9:21:05 AM PST · by Jedediah · 1 replies
    bible , The Joshua Chronicles ^ | 1-4-16 | Holy Spirit, bible
    I am birthing a new thing in you my children that you may bear forth great multitudes of fruit for my glory for I am expanding my tent pegs so that my Tapestry covers the earth and so now as my spirit rises up in you "Truly" you shall bud, blossom and bear fruit ripe for the picking and I shall use you as Aaron's Rod for I carry you in my hand for you know me as your divine authority and God. I am your inheritance for you are my priest and I am your pleasure and delight and...
  • Federal Reserve will pay banks $12 billion in 2016

    12/24/2015 10:30:21 AM PST · by Toddsterpatriot · 15 replies
    Yahoo! Finance ^ | Dec 24, 2015 | Jared Blikre
    In 2016, the Federal Reserve will pay at least $12.2 billion to U.S. and foreign banks to keep the money created via its quantitative easing programs out of the economy. If the Fed raises rates as expected next year, the amount nearly doubles to $23.1 billion. From 2008 to 2015, the Fed purchased over $4 trillion worth of bonds to stimulate growth in the economy. Risk markets responded, as is demonstrated by the close correlation between the S&P 500 and growth of the Fed's balance sheet through its bond purchases.