Today
Thunderstorms early, then becoming clear after midnight. Low around 45F. Winds NNW at 10 to 15 mph. Chance of rain 30%..
Tonight
Thunderstorms early, then becoming clear after midnight. Low around 45F. Winds NNW at 10 to 15 mph. Chance of rain 30%. Updated: May 14, 2021 @ 3:30 pm
Tasos Vossos, Bloomberg News Skyscrapers in the skyline of the City of London, U.K., on Monday, March 8, 2021. Values in the U.K. capital should jump about 25% over the next five years, outpacing other European capitals, according to DWS researchers. Photographer: Jason Alden/Bloomberg , Bloomberg
(Bloomberg) Buyers of newly-minted corporate bonds are already nursing losses as inflation fears send government bond yields climbing.
About four fifths of high-grade non-financial corporate bonds priced in Europe this year are quoted below their issue price, based on data compiled by Bloomberg. Last Friday, the share of post-issue losers stood at under 50%.
This bleak statistic underscores the damaging effect on credit investors of the so-called reflation trade bets on rapid economic recovery and an associated pickup in inflation prompting many to seek shelter from further sovereign debt sell-offs.
By Morgan Davis
11 May 2021
Cathay Pacific Airways has sold its first dollar bond in more than 20 years, battling suppressed business over the last two years to raise $650m from the long-overdue deal.
Hong Kong s flag carrying airline’s transaction came after months of preparation. Cathay initially mandated banks to lead a dollar bond sale in the latter part of 2019, but the transaction never took off. At the time, Hong Kong was in the middle of city-wide protests against
. Already a subscriber? Login
Earning miles on more airlines
Robert Alexander/Getty Images
Alaska Airlines and American Airlines aircraft.
Members of Alaska’s Mileage Plan program can now earn miles when flying on any one of Oneworld’s 14 member airlines. Besides Alaska, that list includes American, British Airways, Qatar Airways, Cathay Pacific Airways, Finnair, Qantas, Malaysia Airlines, Japan Airlines, Iberia, Royal Air Maroc, Royal Jordanian Airlines, S7 Airlines, and SriLankan Airlines.
And the same goes when loyalists of other Oneworld airlines fly on Alaska as they can earn miles for their preferred airline’s program. The offering gives flyers greater flexibility to fly different airlines, especially if one has a better schedule or doesn’t serve a desired route, while still earning miles that can lead to free flights or elite status.