Futures Bounce After BOJ Jawbone; Traders Remain On Edge Ahead Of Payrolls zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Warning Signs Are Emerging in Credit Markets as Yields Rise
Bloomberg 3/5/2021 Jack Pitcher, Ameya Karve and Priscila Azevedo Rocha
(Bloomberg) Concern is mounting in corporate credit markets globally as longer-term Treasury yields continue to rise, leading borrowers from New York to Tokyo to delay bond sales and strategists to warn of trouble ahead.
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Gauges of credit fear jumped in Europe for investment-grade and high yield debt on Friday. Two borrowers that had expected to sell bonds in the U.S. opted to push their offerings into next week, after a stronger-than-expected jobs report brought fresh inflation concerns and lifted the 10 year Treasury rate briefly above 1.6%. The extra yield that investors demanded to own U.S. corporate bonds increased 4 basis points on Friday to 96 basis points, the biggest jump since Nov. 12, Bloomberg Barclays index data show.
Libor moves to its final chapter as U K sets end dates nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
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Following requests from industry, New York State incorporated
legislative language addressing the expected discontinuance of
LIBOR in its recently released draft budget. The draft language
amends the General Obligations Law to require New York law-governed
contracts without LIBOR fallback provisions to use the replacement
rate recommended by the Alternative Reference Rates Committee
(ARRC).
1
Background
The U.K. Financial Conduct Authority (FCA), which regulates
LIBOR, has made clear that it will not compel banks to make LIBOR
submissions beyond 2021. Together with other official sector
bodies, it has strongly advised industry to transition away from
Over 60% of all scams are related to digital currencies: Austrian regulator Business
The Austrian financial watchdog has revealed that cryptocurrency-related scams have shot up in the Central European country. They accounted for close to two-thirds of all financial scams in the past year, the regulator according to authorities.
The Financial Markets Authority (FMA) stated that it saw a record in whistle-blower reports of potential fraud in 2020. As Bloomberg reports, digital currencies were the main focus of most reports. Over 60% of all financial fraud in Austria last year was tied to digital currencies.
FMA spokesperson Klaus Grubelnik said that scammers have mainly targeted social media users. They promoted their scams on WhatsApp, Facebook, Telegram and TikTok, he said, and this made them more difficult to stop for the regulator. With digital currencies being global, investigations are also more complicated as they span across jurisdictions.