In short, as new money flows
into the debt markets today, it is flowing ever more strongly in the direction of the CMBS sector.
It marks its first foray
into debt markets, adding to its pre-existing revolving credit line of $ 1bn with a Morgan Stanley affiliate.
Investments with specific goals in mind will find their way
into the debt market of prime importance, as a risk reduction.
Of course not, but anyone running a fund in the hundreds of billions of dollars spanning 20,000 individual securities likely has a lot more insight
into the debt market than other fund managers.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft
market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and
markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter
into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance
debt, including our ability to obtain the
debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Many people have bought
into this space because it's one of the only places to get decent yield, but she points out that a number of companies only offer corporate
debt because of
market demand.
The two - day AIM Summit titled The Shifting Paradigm of Alternative Investments, will see expert speakers discussing risk and return across the private
debt space, look
into the regulatory aspects, host interactive sessions on the impact of US and European leveraged lending guidelines, among other current
market trends.
Satellite radio providers XM and Sirius ate
into Muzak's
market share, however, and the company was burdened by
debt.
The pressure to put money
into the industry has created ideal conditions for fundraising, which is why we have such a high amount of dry powder and that's creating even more intense competition for deals along with continued favorable credit
markets which allow for cheap
debt.
Tapping
into tax credit allocations through the New
Market Tax Credits scheme, which offers investors tax credits for investing in CDFIs, generated more than $ 65 million in leveraged
debt from TCE and Capital Impact and $ 60 million of tax credit equity from JP Morgan and US Bank.
Take that funding away and the
market settles back
into something more closely aligned with the underlying reality — the one of high unemployment / underemployment, high oil prices, stagnant middle - and lower - class incomes, unprecedented wealth concentration in the upper class, demolished savers, under - investment in capital, and an ongoing transition to a low - wage service economy hard - pressed to service
debt.
With other big acquisition funding still in the pipeline, it was crucial for banks to set a positive tone for investment - grade
debt and lure buyers back
into a struggling
market.
What it means to you: Rising prices, stagnant wages and mounting
debt loads could send the housing
market into a tailspin.
It puts 25 %
into foreign stocks, 25 %
into U.S. Treasuries, and 10 % each
into commodities, emerging -
market currency, bank loans, high - yield bonds, and 5 % each
into TIPS and local - currency emerging -
market debt.
After years of pumping money
into the country's frothiest housing
markets, Canada's big banks are suddenly — and alarmingly — nervous about the
debt - fuelled monster they've helped to create.
What's more, for this to work, the person who rents has to actually invest money they would have put
into a downpayment
into the stock
market, as well as all the principal payments they would have made to pay down the
debt.
Obviously, besides immediately abandoning its propaganda campaign, the Chinese government should reassure the global business community with concrete, honest, realistic, and
market - based solutions that address the underlying pathologies of China's poor economic performance: massive
debt, endemic overcapacity, and an economic system that channels low - cost capital
into inefficient state - owned enterprises at the expense of private entrepreneurs and consumers.
In 1998 you had a rolling crisis of sorts where lots of little problems (emerging
market debt scares) eventually boiled over
into one bigger problem (the Russian default) and then appeared to be rolling over
into foreign
markets with the LTCM debacle.
Already, nearly 20 % of cryptocurrency owners went
into debt to invest in the
market, according to Bloomberg reporting.
He then moved back
into banking, eventually becoming global head of the financing group, the unit that houses the equity and
debt capital
markets businesses, for six years from 2008 to 2014.
They could then reinvest that cash
into higher yielding assets such as, say, emerging
market debt.
As the presidential elections draw near, the nation's
debt woes are coming
into clearer focus — and Bank of America - Merrill Lynch Global Research warns that the «fiscal cliff» is bigger than most
market observers imagine.
«You can't throw major economic shocks
into a
market that's softening, and that's why a high - tax agenda and
debt scares people,» she says.
While these may at first seem unrelated, in fact financial
market disruptions are tightly tied
into the self - reinforcing processes of rising
debt, capital flight and slowing growth that recent reforms were supposed to untangle and address — and for which they have clearly failed.
I still think there will be a flight to safety in sovereign bonds when stocks have a bear
market but other areas such as high yield and corporate
debt could run
into some problems.
International
debts grew as Western savings spilled over
into «emerging
markets.»
That They Will Eventually Release Most Of Their QE'ed Sovereign
Debt From Their Balance Sheets [as global inflation emerges]
Into The
Market... Mostly Via Non-Reinvestment At Maturity.
When the stock
market collapsed around 2008 I had been putting extra cash
into paying down
debt.
A crash in the bond
market would put the US
into default because its ability to borrow and roll over its
debt would be gone.
Star Mountain is a specialized asset management firm focused exclusively on the U.S. lower middle -
market by investing
debt and equity directly
into established operating companies, making strategic investments
into fund managers and purchasing secondary fund positions.
Although the largesse is restricted to blue - chip eurozone companies such as food producer Danone or telecoms giant Telefónica, ECB - injected liquidity has spilled
into the rest of the
market, paring average interest rates on investment - grade corporate
debt by some 30 basis points to an even 1 %, Deloitte estimates.
As the housing
market continues its crash and burn path, it is sometimes difficult to put
into words the incredible amount of mortgage
debt floating around in the
market.
The government's budget had less short - term impact on financial
markets, but there is starting to be a clear pattern whereby the closing of the budget deficit (and the stabilisation of government
debt) which were supposed to be achieved by 2015 are continuously being pushed further
into the future.
But the
debt markets have a fairly deep bench when you really start drilling down
into the different maturities, sectors, structures and bond issuers.
With interest rates on low - risk investments falling to low levels in many countries, investors have sought to maintain yields by moving
into higher - risk assets such as corporate
debt and emerging
market debt.
On 10/24/16, the Schroder Absolute Return EMD and Currency Fund (the «Predecessor Fund») was reorganized
into the Hartford Schroders Emerging
Markets Debt & Currency Fund, a new Hartford Fund that has substantially the same objective and strategies as the Predecessor Fund.
The other is that Greece defaults on its
debt and financial
markets go
into turmoil.
European sovereign
debt markets were in turmoil as investors priced
into the
markets their fear that the Euro currency experiment could end in failure.
Taking
into consideration the fact that there is just two other circumstances when the
debt / GDP NYSE margin had increased by about 30 basis points or more in a period of only three months — that happened when the ration had reached its two major secular bull
market highs — the likelihood is highly probable that the NYSE margin
debt / US GDP, is once more at its peak of all time high of 2.87 %!
Drexel Burnham led the transformation of the stock
market into a vehicle for corporate raiders to take over companies, load them down with
debt and pay out profits as interest.
Q: How has the financial system evolved
into the form of economic servitude that you call «
debt peonage,» negating democracy as well as free -
market capitalism as classically understood?
Tying the
debt limit increase to a Harvey bill is intended to ease early passage of a
debt limit increase and avoid a potential stand - off over what could potentially escalate
into a technical default — the outcome that is violently spooking the Bill
market — and could rattle financial
markets, one of the officials said.
And the UK Telegraph's Ambrose Evans - Pritchard notes a «side - effect has been a run on emerging
markets, a reversal of hot - money inflows
into China, and fresh
debt jitters in Portugal, Spain, and Italy.»
David Tepper builds stake in Energy Holdings
debt [ValueWalk] Mark Anson's formula for choosing a good hedge fund for your portfolio [CFA] How hedge funds need to adapt [All About Alpha] The mind of DoubleLine's Jeffrey Gundlach [Crossing Wall Street] George Soros» European solution to the Eurozone's problem [George Soros] JANA Partners says Rockwood worth $ 80 in possible takeover [Bloomberg] ValueAct takes $ 2 billion Microsoft (MSFT) stake [Yahoo News] John Paulson says he's staying the course on gold [Hedgeworld] Rob Arnott: most hedge funds disappoint [Term Sheet] Hedge fund managers mixed on 2013 outlook [HedgeCo] Billionaire Carl Icahn's tale of aggression [Forbes India] Hedge fund gold wagers defy worst slump in 33 years [Bloomberg] Hedge funds plowed
into gold as
market looked vulnerable [Hedgeworld] Devitt sees consolidation in outlook for fund of funds [Investment Europe] Hedge funds find new Swiss rules good for business [Reuters] Singapore will replace Switzerland as wealth capital [CNBC]
The figures are a bit better in Canada (which did not have a housing
market collapse) but even so one - quarter of Canadian boomers plan to carry some
debt into retirement.
Canada's biggest private - equity firm, Onex Corp., has also moved deeper
into the U.S.
market, ramping up its business packaging the
debt as securities with an eye to doubling that unit's assets in two years.
We also prefer emerging
market (EM)
debt, whose relatively higher yields now look more attractive post Brexit given that some key headwinds to EMs have turned
into tailwinds.
Within 48 hours the president had signed
into law a bill that provides $ 15 billion in hurricane funding, a bill that delays the potential government shut down at the end of this month to December 8th and a bill that pushes the
debt ceiling fight which is perhaps the most
market moving event that comes out of Washington off until sometime in 2018.
Gelpern acknowledges that Ukrainian refusal to pay the bonds by invoking the odious
debt principle «is fraught with legal, political and
market risks, all of which would play
into Russia's hands.»
As noted in the Fund's June 30, 2016 Semi-Annual Report, the Fund held approximately $ 30 million
market value of TXU Energy's first lien
debt which was yielding approximately 15 % at the time it was converted
into equity in the new TCEH Corp..