Treasury yields rose across the yield curve week-over-week. Meanwhile, investment-grade corporate bond yields took cues from the Treasury securities and rose too.
EDF SA is based in France. It produces, markets, and distributes electricity. EDF SA issued A1/A rated high-grade bonds worth ~$4.8 billion in five parts.
Last week, Treasury yields rose in double-digits nearly across the yield curve. Yields on investment-grade corporate bonds also rose for the week ended October 9.
The US Treasury conducted the weekly auction for four-week Treasury bills on October 6. The issuance was $8 billion—$2 billion lower than the previous week.
The US Treasury auctioned 13-week T-bills worth $21 billion on October 5. The offer amount was $3 billion higher than the previous week’s auction.
The US Treasury held its weekly 26-week Treasury bills auction on October 5. T-bills worth $21 billion were on offer—$3 billion higher than the prior week.
The US Treasury holds monthly auctions of three-year Treasury notes. The yield on these notes is related to movements in the Fed’s federal funds rate.
The US Treasury conducts an auction of ten-year Treasury Notes once every month. The yield of these T-notes is considered a benchmark in financial markets.
The monthly auction for 30-year Treasury bonds was held on October 8, 2015, for $13 billion—the same as in the previous month. The high yield fell to 2.91%.
Out of the total analysts surveyed by Bloomberg, 64.7% of analysts have a “buy” rating on American Airlines, ~35.3% of the analysts have a “hold” rating, and no analysts have a “sell” rating.
American Airlines’ traffic increased 5.0% YoY to 20.01 billion, and its carrying capacity increased by 2.7% to 24.30 billion.
American Airlines’ 2Q15 revenues fell by 4.6% YoY to $10.83 billion due to weakness in the company’s key markets. Analysts estimated that revenues would be ~$10.86 billion.
AAL trades at a price-to-earnings multiple of 5.16x, which is a considerable discount with its peer average and the S&P 500 multiples.
In 2Q15, most hedge funds that had significant exposure to American Airlines either lowered their stakes or kept their positions steady in the company. AAL’s shares lost approximately 26.5% in value.
This series covers institutional investors’ activity in airline stocks in 2Q15, focusing on American Airlines Group. The majority of asset managers were net bearish on airlines.
In the last quarter, ETF investors have withdrawn $236 million from the SPDR EURO Stoxx 50 ETF (FEZ).
The US Department of the Treasury conducted the weekly auction of four-week Treasury bills, or T-bills, on September 29. The issuance was $10 billion.
The US Department of the Treasury auctioned 13-week T-bills worth $18 billion on September 28. It was $2 billion lower than the previous week.
The US Department of the Treasury held the weekly 26-week Treasury bills, or T-bills, auction on September 28. T-bills worth $18 billion were on offer.
Of the 20 Wall Street analysts covering the stock, 13 have rated Southwest Airlines a “buy,” and three have rated it a “sell.”