Decision by rating agency Moody’s leaves London’s water supplier teetering
Further adventures in fixed income T&C shenanigans
Climate start-ups have struggled to raise finance to prove their systems at scale
This niche offers diversification as well as high yields but is hardly risk free
Some wagers associated with a Donald Trump election victory suffer setback
Calpers and New York State Common Retirement Fund push firms for stronger labour protections
Agreement with bondholders boosts Kyiv’s drive to use private capital to fund fight against Russia
Tally falls amid dearth of IPOs and as costs of being quoted drive some companies to delist
Criticism from asset managers is increasingly leading big employers to walk back diversity and environmental measures
Masdar CFO says the renewable energy company will be a boon to developing economies
At an index level things look very loose, but under the surface it’s more of a ‘mixed bag’
Traders backing short-dated debt to outperform longer maturities encouraged by prospect of interest rate cuts
In general, the dynamics in developed countries are unlikely to pose any immediate threat to fiscal credibility
Parallel lines
Asset managers no longer boast about environmental, social and governance credentials
Development finance chief says Middle Eastern and Chinese groups are filling the gap
Loss of investment-grade status for utility’s safer debt could increase regulatory scrutiny and flood high yield market with bonds
New chancellor could boost fiscal headroom by excluding impact of Asset Purchase Facility on Treasury debt target
Use of fund-level net asset value loans to pay dividends falls 90% after institutional investors raise concerns
Investors pay the price for flocking to so-called cov-lite leveraged loans with reckless abandon
Also in today’s newsletter, the brewing tensions over a new EU green trade proposal
Pluralsight lender group marked debts at seemingly implausible highs
Geopolitical turmoil, smoke-and-mirrors fiscal planning and quantitative tightening: the risks are many — but now might still be the time to buy UK government bonds
Gap between borrowing costs of most and least risky debt widens as traders fret over impact of high US interest rates
UBS survey also finds reserve managers expect higher US deficit under a Donald Trump presidency