By Esteban Duarte Bloomberg Thu., April 4, 2019 Canada’s bond market is churning out issues backed by increasingly riskier assets — and yield-starved investors are lapping them up. Recent deals have included debt backed by a variety of assets including mortgages on Hudson’s Bay Co. stores, a junk-rated retailer; consumer loans charging interest rates of as much as 40 per cent; and home equity lines of credit. Nonbank mortgage lenders may also soon issue debt, market watchers say. The bonds are hitting the market amid a mixed picture for the Canadian economy. Ten-year government bond yields are trading below the Bank of Canada’s overnight rate. Consumer spending has been tepid and inflation weak, but the economy also recorded its best monthly advance in growth in eight months in January and boasts an unemployment rate at a four-decade low of 5.8 per cent. “The flattening of the curve, in which you see the ten year bonds inside the … [Read more...] about Riskier consumer-backed debt is cropping up in Canada
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Sections SEARCH Skip to content Skip to site index Subscribe Log In Log In Today’s Paper DealBook | DealBook Briefing: Is China Gaming America in the Trade Talks? DealBook Supported by Feb. 22, 2019 Good Friday morning. (Was this email forwarded to you? Sign up here .) U.S. frustrations grow over China trade talks China’s vice premier, Liu He, is scheduled to hold face-to-face trade talks in Washington today, before attending a meeting with President Trump in the Oval Office. There is still plenty to be discussed. “The tone of the negotiations between the two nations has grown more stern,” according to Ana Swanson and Alan Rappeport of the NYT, citing unnamed sources. “American officials have come to realize that China has been repackaging promised reforms and trying to sell them as concessions to Mr. Trump,” which has “caused deep frustration among the … [Read more...] about DealBook Briefing: Is China Gaming America in the Trade Talks?
Vietnam consumer prices rise 0.1% m/m in January Vietnam's consumer price index (CPI), a gauge of inflation, saw an increase by 0.10% in January against the previous month, and up 2.56% year-on-year, according to the General Statistics Office (GSO). Nine out of 11 commodity groups, which are components of the basket for CPI calculation, witnessed monthly hikes in prices, of which, beverages and cigarettes posted the highest increase of 0.69%, followed by food and catering services 0.66%, and garment, footwear and hat group 0.39%, mainly due to high consumption demand in preparation for Tet holidays. Prices of other groups also picked up such as housing, water and electricity supply, and construction materials (0.35%); culture, entertainment, and tourism (0.33%); household equipment and appliances (0.16%); education (0.15%); medicine and healthcare services (0.01%); goods and other services (0.34%). Transportation and Post and telecommunication service price were the … [Read more...] about BUSINESS NEWS IN BRIEF 29/1
HDBank pre-tax profit increases by 65.7 per cent to $ 172.6 million An HDBank branch in HCM City. — Photo courtesy of HDBank The HCM City Development Joint Stock Commercial Bank (HDBank) has announced its results for the fourth quarter of last year and for the full financial year, achieving impressive growth and meeting ambitious targets. Its pre-tax profit surpassed the target approved at the annual general meeting early last year. Its return on equity and return on assets were 20.27 per cent and 1.58 per cent. HDBank’s non-performing loan ratio was tightly controlled at 0.97 per cent, the lowest level in the banking industry. In the fourth quarter, the lender achieved a consolidated pre-tax profit of over VND1.12 trillion (US$48.3 million), up 122.1 per cent year-on-year. This included net interest earning of VND2.16 trillion ($93.1 million), up 23.9 per cent over the same period. With a breakthrough performance in the last quarter of 2018, pre-tax profit for the whole … [Read more...] about BUSINESS NEWS IN BRIEF 24/1