Monitoring the Monetary System and the Flow of Capital for Forecasting the Business, Financial and Currency Cycle - and Investing in the Emerging Economies from the Euro Global Reserve Currency - on lucabindi.com
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ECB Balance Sheet as % of GDP - Zerohedge
Steinhoff's stock slumped as much as 72% Wednesday in Frankfurt, wiping out more than €7 billion ($8.3 billion) in value, before closing 64% lower at €1.08 euros. The stock closed at €5.075 on its first day of trading in the German city in December 2015, when the company moved its primary listing from Johannesburg.
But it is what happened to the company's bonds that mattered most: Steinhoff International debt plunged, with €800 million of senior unsecured bonds due in 2025 falling as much as 41 cents on the euro, to 42 cents, before rebounding modestly. What makes the collapse remarkable is that the notes were issued just six months ago, in July, and have a Baa3 investment-grade rating from Moody’s Investors Service.
Ratings-New York-11 December 2017: The total amount of global
negative-yielding sovereign debt remains at elevated levels despite the
European Central Bank's (ECB) plan to reduce monthly asset purchases
amid improving economic fundamentals in the Eurozone, according to Fitch
Ratings. As of Dec. 4, 2017, there was $9.7 trillion of
negative-yielding sovereign debt outstanding, up from $9.5 trillion on
May 31, 2017 and $9.3 trillion one year ago.
Fonte: Fitch: $9.7T of Neg Yielding Debt Despite Monetary Normalization