Treasuries yield curve correlated to CPI Inflation expectations
February CPI (excluding food & energy) year on year was 6.1%, and in Feb 2021 was 1.3%. that makes the 2Y inflation expectation about 4.8%. Fed Funds at the minute are on neutral. ECB and BoE are in much worse…
FTSE 250 HAS BEEN AMONG THE WORST INDEX GLOBALLY. UK STOCKS ARE COMPLETE RUBBISH
Pound-denominated equities are among the worst globally for investors, UK equities and stocks are very bad and unprofitable investments. The FTSE 250 a basket of mid-cap stocks has been constantly among the worst index globally for returns, in fact, the…
EURO AREA HICP INFLATION DATA BENEFITS FROM DECREASING ENERGY PRICES
Euro Area Inflation data are quite controversial. CORE CPI jumps to 1.2% an increase of 0.4% from the previous month, therefore CPI CORE INFLATION year on year needs to be 6.0%, not 5.7%. 0.9% CPI Inflation increased +0.1% from the…
Commercial Real Estate securitized credit derivatives downgraded, because of declining credit quality
downgraded the ratings on six classes in COMM 2012-CCRE2 Mortgage Trust (“COMM 2012-CCRE2”), Commercial Pass-Through Certificates, Series 2012-CCRE2 as follows: Cl. D, Downgraded to Ba1 (sf); previously on Sep 22, 2022 Downgraded to Baa2 (sf) Cl. E, Downgraded to B1…
Moody’s has taken rating actions by downgrading UK housing associations, underlying credit derivatives finance and SPVs
Moody’s has downgraded the Baseline Credit Assessments (BCAs) of 12 HAs by one notch and of one HA by two notches. The BCA of Alliance Homes Group (Alliance) was downgraded to a3 from a2; the BCAs of Citizen Housing Group…
Moody’s downgrades UK Private Healthcare provider: United Healthcare (Bromley) Limited’s underlying rating to Baa1 from A2; outlook remains negative
Moody’s Investors Service (“Moody’s”) has today downgraded to Baa1 from A2 the underlying rating of the GBP138.4 million of index-linked senior secured bonds due in 2036 (the Bonds) issued by United Healthcare (Bromley) Limited (Project Co). The outlook remains negative….
Moody’s downgrades the rating on GBP 41.4m Project Finance CLO notes of Semperian Senior Funding Plc
Moody’s Investors Service (“Moody’s”) has downgraded the rating on the following notes issued by Semperian Senior Funding Plc: ….GBP 41.4M Class D Notes, Downgraded to Baa3 (sf); previously on Jun 21, 2021 Affirmed A3 (sf) Moody’s has also affirmed the…
UK HOUSING DEVELOPER MILLER HOMES’ CREDIT RATING DOWNGRADED
Moody’s Investors Service (Moody’s) has today affirmed the corporate family rating (CFR) of Miller Homes Group (finco) PLC (Miller Homes or the company), the indirect parent company of UK homebuilder Miller Homes group, of B1 and probability of default rating…
MOODY’S DOWNGRADES VENATOR MATERIAL plc SIGNAL INCREASING PROBABILITY OF DEFAULT
Moody’s Investors Service (“Moody’s”) has downgraded the Corporate Family Rating (“CFR”) of Venator Materials plc (“Venator”) to Caa1 from B2, the Probability of Default Rating (“PDR”) to Caa1-PD from B2-PD and the company’s Speculative Grade Liquidity Rating (“SGL”) to SGL-4…
UK FOOD RETAILER CREDIT RATING DOWNGRADED
Moody’s Investors Service (“Moody’s”) has today downgraded the corporate family rating (CFR) and the probability of default rating (PDR) of Market Holdco 3 Limited, a holding company formed to effect the acquisition of Wm Morrison Supermarkets Limited (Morrisons), to B2…
What do we do with a drunken sailor?
On this chart, UK Inflation Expectations stand at 6.1% On this chart, UK Inflation Expectations have risen to 5.6% in February, as CPI Inflation increased to 10.4%. Important to notice in the chart, that Inflation Expectations are at the highest…
UK INFLATION RISES TO 10.4% WITH FOOD INFLATION SURGING TO 18%
As expected the UK CPI Inflation measure increases to 10.4%. This will make sure that the OBR and Exchequer 2.9% target goes out of the window as plain baloney. The last time Inflation was so high was in the 1970s…
UK SPRING BUDGET, ANOTHER MISSED OPPORTUNITY
The big idea coming from the UK Exchequer Spring Budget, it’s a rough measure of Capex that won’t produce what’s hoped, but rather accounting tricks to inflate capex expenditure so as to evade the raise in Corporate Tax. The measure…
How will drift the USD/JPY exchange rate? More Dollar strength shouldn’t be ignored
Dollar/Yen chart 12 months timeframe. Every candlestick= 12 months. USD/JPY 105.95 | 106.0 exchange rate has seen the largest volume traded. However, although the BoJ has very large USDollar reserves to help the Yen not depreciate too much. exchange rate…
S&P 500 POTENTIAL -15% SELL-OFF
SPX price/volume, Daily timescale chart, below the 200-day Exponential Moving Average, that means SPX in logarithmic function. Most important SPX 3963 Point of Control SELL-OFF Signal, with a potential Head&Shoulder candlestick pattern. S&P500 price/volume trendline with a -15% | -17.5%…
France and Italy’s short-term sovereign debt seeing higher volatility
Observing high volatility in the 1-Month CTZ Italian debt yield. There’s a 348 basis point increase intraday. the yield jumped +26.28%. The chart below explains how the 1Month CTZ Yield has increased outside 3 standard deviations from the linear regression…
