An increasing number of U.S. companies are selling bonds to repay lines of credit they drew down at the height of the coronavirus-induced market turmoil, an indication that the cash crunch facing much of Corporate America may be easing, according to Bank of America analysts.
“Now we are seeing signs that some companies have confidence they can get to the other side because they are issuing corporate bonds to pay down credit lines,” Hans Mikkelsen, head of U.S. investment grade credit strategy at Bank of America, wrote in a note.
Many corners of the credit markets are booming following a string of asset purchases by the Federal Reserve and direct lending schemes set up in conjunction with the Treasury Department.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
For America’s Small Truckers, Demand Is ‘Falling Off a Cliff’'There's no freight, no freight at all.' Thousands of small trucking companies that move the vast majority of the goods in U.S. freight markets are heavily exposed to a deepening downturn.
Read more »
Buy these 'sustainable dividend' stocks for return in these uncertain times, JPMorgan saysJPMorgan screened for S&P 500 companies with a dividend yield above 1%, then ranked each company based on dividend quality, credit health, and fundamental trends.
Read more »
A Bond Issue Pulls Back The Curtain At Hollywood’s Film AcademyFor those who want more transparency from the Academy of Motion Picture Arts and Sciences—and that was certainly a core request in producer Michael Shamberg’s open letter to Academy leaders last we…
Read more »
Looking to pay off your credit card debt but have fair credit? Here's the best card for youWhile most balance transfer cards require good or excellent credit to qualify, one credit union card stands out for people with fair credit: Aspire Platinum Mastercard.
Read more »
Opinion | PPP Loan Terms Amount to Legalized FraudFrom WSJopinion: Healthy companies can easily exploit Paycheck Protection Program loans meant for those forced to shut down, writes Pete Vegas
Read more »
Lawsuit claims 10 big banks rigged market for 'odd-lot' U.S. corporate bondsTen of the world's largest banks, including JPMorgan Chase and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.
Read more »