Harriet Clarfelt

Wednesday, 20 December, 2023

Sunday, 17 December, 2023

Corporate bonds

Investors ditch notion that interest rates will stay ‘higher for longer’

Fed’s dovish message is being interpreted by the bond market as a full-speed ahead signal

Thursday, 7 December, 2023

Corporate bonds

Companies rush to take advantage of sharp drop in borrowing costs

Bond issuance by US and European firms surges as market becomes more confident of interest rate cuts next year

Sunday, 3 December, 2023

News in-depthCapital markets

Gush of cash into money market funds tipped to continue in 2024

Investors are rushing to take advantage of the highest yields in years before the Fed begins to cut interest rates

Thursday, 30 November, 2023

Capital markets

Global stocks record best month in three years on rate cut hopes

MSCI All-Country World index gains 9% in November as investors rush into risky assets

Wednesday, 29 November, 2023

Sovereign bonds

US bonds on track for best month in nearly 40 years

Sharp rally is driven by growing expectations of US interest rate cuts in 2024

Wednesday, 22 November, 2023

Corporate bonds

Investors pour cash into US corporate debt in bet Fed rates have peaked

Inflows into corporate bond funds on track for highest total since July 2020

Wednesday, 15 November, 2023

Barclays PLC

Barclays receives strong demand for AT1 bond as market recovers

Investor interest in debt yielding about 9.6% comes after UBS received $36bn of demand last week

Friday, 10 November, 2023

US economy

Moody’s lowers outlook on US debt to ‘negative’

Rating agency says move reflects drastic rise in Treasury yields and ‘political divisions’

Friday, 10 November, 2023

Central banks

Market skittishness complicates central banks’ interest rate plans

Falling government bond yields loosen the tight financial conditions policymakers want to create

Monday, 6 November, 2023

FT SeriesHigher for longer

Can corporate America cope with its vast debt pile?

Rapid increases in borrowing costs prompt concerns about more defaults on $13tn of debt, but companies are finding new ways to survive

Monday, 6 November, 2023

Special ReportFTfm: Fixed Income

Money market funds spring a leak after year of record inflows

Questions arise over cash-based vehicles’ competitiveness with longer-dated paper, and whether outflows will accelerate

Friday, 3 November, 2023

US employment

Wall Street records best week in a year after US jobs growth slows

Stocks and bonds rally on hopes that Fed will call time on raising interest rates

Wednesday, 25 October, 2023

Corporate bonds

US companies shy away from debt markets as Treasury rout drives up costs

Corporate bond and loan issuance on course for quietest October since 2011

Sunday, 22 October, 2023

High yield bonds

Investors demand highest premium in years to hold risky European debt

Spreads on euro-denominated junk bonds rise to widest levels since 2016

Friday, 13 October, 2023

Private credit

Private credit funds step in for companies facing mountains of debt

KKR’s PetVet is latest to turn to direct lenders as $3bn loans approach maturity

Sunday, 8 October, 2023

Leveraged loans

Big banks sit out LBO rebound after being stung by earlier buyouts

Concern about loans getting stuck on their balance sheets has left some lenders wary of riskier deals

Saturday, 7 October, 2023

US economy

Mixed messages behind the headlines of a blowout US jobs report

Addition of 336,000 roles by employers masks complex news for workers, Federal Reserve, bonds and equities

Friday, 6 October, 2023

US employment

US jobs growth surges past expectations with 336,000 new posts

Bonds sell-off reignites after September figures fuel investor anxiety over higher for longer interest rates

Thursday, 5 October, 2023

ExplainerSovereign bonds

Who feels the pain from the bond sell-off?

With prices plunging and yields at decade highs, these are the parts of the financial system that could come under strain

Tuesday, 3 October, 2023

Capital markets

Cboe and S&P launch ‘credit Vix’ indices as higher rates squeeze corporates

Launch of four indices is attempt to replicate success of ‘fear gauge’ for stocks in credit markets

Thursday, 28 September, 2023

Private credit

Moody’s warns of ‘systemic risk’ from leveraged lending market

Rating agency says looming ‘race to the bottom’ between banks and private debt funds could erode credit quality

Thursday, 28 September, 2023

Sovereign bonds

European bond market hit by Italy’s plans for higher borrowing

Yields reach highest level in a decade as investors’ deficits worries add fuel to sell-off

Wednesday, 27 September, 2023

US Treasury bonds

Fed’s ‘higher for longer’ message hits US stocks and bonds

Treasuries and Wall Street shares on course for worst month of 2023

Tuesday, 26 September, 2023

Corporate bonds

Top-rated US companies turn to convertible bonds as rising interest rates bite

Drive to minimise borrowing costs fuels issuance of debt typically dominated by junk-rated companies

Harriet Clarfelt

US capital markets correspondent

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