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Lynn Noah

Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.

More From Lynn Noah

  • uploads///US Treasuries Yield Curve
    Macroeconomic Analysis

    Treasury Yields Fell as September US Industrial Production Dipped

    Treasury yields fell across the yield curve for the week ended October 16, as US industrial production for September declined. Demand for safe-haven assets rose amid global uncertainty.

    By Lynn Noah
  • uploads///Chinas Foreign Exchange Reserves
    Financials

    China’s Foreign Reserves Rise in June: Here’s Why

    China’s foreign reserves rose by $13.5 billion in June to $3.2 trillion. June’s increase was the largest in 14 months.

    By Lynn Noah
  • uploads///US High Yield Bond Fund Flows
    Company & Industry Overviews

    High-Yield Bond Funds Saw Large Inflows, Yields and Spreads Fell

    Investor flows into high-yield bond funds were positive for the week ended July 6, 2016, after three consecutive weeks of negative outflows.

    By Lynn Noah
  • uploads///Chinas Consumer Price Index and Producer Price Index
    Macroeconomic Analysis

    What Do China’s CPI, PPI, and Debt Data Indicate?

    China’s consumer price index (or CPI) rose to 1.6% year-over-year in September, mainly due to higher food prices and not improvement in economic activity.

    By Lynn Noah
  • uploads///US Treasuries Yield Curve
    Macroeconomic Analysis

    Treasury Yields Rise as the Situations in Greece and China Improve

    Treasury yields rose marginally across the yield curve in the week ended July 10, 2015. The demand for safe-heaven securities dropped.

    By Lynn Noah
  • uploads///Vanguard  Index Fund Investor Class VFINX
    Company & Industry Overviews

    US Stock Indices Plunge after Oil Prices Rebound

    The three US equity indices that we review in this weekly series fell from December 8 to December 15, 2015, after a rebound in oil prices.

    By Lynn Noah
  • uploads/// Year Treasury Note Issuance versus Bid Cover Ratio
    Fund Managers

    3-Year Treasury Notes’ Overall Demand Fell on July 7

    The US Treasury holds monthly auctions of three-year Treasury notes. The latest auction was held on July 7.

    By Lynn Noah
  • uploads///Movement in the US the UK Germany and France  Yr Yields
    Macroeconomic Analysis

    Why US Treasuries Are All the Rage Right Now

    Investors are flocking to safe-haven assets such as Treasuries (DRGBX) (TLT) and gold (IAU).

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    How Leveraged Loan Funds Continue to Witness Outflows

    According to data from Lipper, leveraged loan funds saw an outflow for the seven days ended November 18, making them the 17th occurrence of such outflows.

    By Lynn Noah
  • uploads/// Year Treasury Bond Issuance versus Bid Cover Ratio
    Fund Managers

    10-Year Treasury Note Market Demand Barely Moved Last Week

    On July 8, ten-year Treasury notes worth $21 billion were auctioned—the same as the previous week.

    By Lynn Noah
  • uploads///Movement of Investment Grade Bond Yield and Spread
    Financials

    High-Grade Bond Yields Rose as Spreads Touched Their Lowest Level

    Last week, high-grade bond yields rose after upbeat US inflation and retail sales data raised the possibility of a rate hike by the year’s end.

    By Lynn Noah
  • uploads///US Treasuries Yield Curve
    Company & Industry Overviews

    Treasury Yields Were Mixed amid Oil Price Volatility

    Treasury yields rose across the yield curve—except for one-month T-bills, three-month T-bills, and three-year T-notes—in the week ending December 31.

    By Lynn Noah
  • uploads/// Yr and  Yr Treasury Yield and Price Movement in TLT
    Macroeconomic Analysis

    Treasury Yields Jumped on Robust US Inflation and Retail Sales Data

    US Treasury yields rose across the yield curve for the week ended July 15, 2016, as robust US consumer inflation and retail sales data revived expectations that the Fed could raise interest rates this year.

    By Lynn Noah
  • uploads///Performance of China Focused Mutual Funds
    Macroeconomic Analysis

    SSE Composite Index Has Fallen 12.3% in the Last Week

    The SSE Composite Index fell by 12.3% from January 6 to January 13, 2016, and closed at $2,949.60 on January 13 on concerns about China’s economic growth.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    December Saw the Highest Outflows of Leveraged Loan Funds in 2015

    The total net outflows from leveraged loan funds in 2015 stood at $16.4 billion. This was marginally higher than the $16.2 billion recorded in 2014.

    By Lynn Noah
  • uploads///Chinas Industrial Profits
    Macroeconomic Analysis

    China’s Industrial Profits Accelerate in June

    According to the National Bureau of Statistics, China’s industrial profits for firms above a designated size rose by 5.1% year-over-year to 616.3 billion yuan ($92.4 billion) in June.

    By Lynn Noah
  • uploads///Mutual Funds Exposure to the Consumer Discretionary Sector
    Macroeconomic Analysis

    Westpac MNI Consumer Sentiment Indicator for China Up in September

    The Westpac MNI China Consumer Sentiment Indicator rose 1.5% to 118.2 in September—the highest level since May 2014—from 116.5 in August.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Continue to Witness Outflows

    Leveraged loan funds saw the fifth consecutive week of outflows last week. The quantum of outflows was small and came in at $75 million last week.

    By Lynn Noah
  • uploads///US Leveraged Loan Market Volumes
    Company & Industry Overviews

    Leveraged Loans Primary Market Issuance Falls to Zero after Christmas Weekend

    The issuance of US leveraged loans fell to zero last week. However, in the previous week, ~$4.9 billion in dollar-denominated senior loans were priced.

    By Lynn Noah
  • uploads///US High Yield Bond Fund Flows
    Company & Industry Overviews

    High-Yield Bond Funds Witness Outflows while Yields on Bonds Rise

    Investor flows in high-yield bond funds were negative in the week ending December 11. Net outflows from these funds totaled approximately $3.5 billion.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Pinnacle Foods: Sole Junk Bond Issuer for the Week of January 15

    Pinnacle Foods issued dollar-denominated junk bonds worth $350 million on January 12, 2016. The senior notes were rated B2/B+ and carried a coupon of 5.9%.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Funds Continue to Witness Inflows

    Investment-grade bond funds saw net inflows of $1.0 billion during the week ending April 6—compared to net inflows of $112.3 million in the week ending March 30.

    By Lynn Noah
  • uploads/// Week Treasury Bill Issuance versus Bid Cover Ratio
    Macroeconomic Analysis

    Indirect Bidders Lose Interest in 4-Week Treasury Bills

    The percentage of indirect bids for 4-week T-bills fell to 20.0% from 29.9% week-over-week. Indirect bidders include foreign central banks.

    By Lynn Noah
  • uploads///US High Yield Bond Fund Flows
    Company & Industry Overviews

    Outflows in High-Yield Funds Fell, Yield on High-Yield Bonds Rose

    Investor flows in high-yield bond funds were negative last week. According to Lipper, the net outflows from high-yield bond funds totaled $0.5 billion.

    By Lynn Noah
  • uploads/// Year Treasury Note Issuance versus Bid Cover Ratio
    Company & Industry Overviews

    10-Year T-Notes: Highest Yield Since December 2014

    The US Department of the Treasury conducts an auction for ten-year T-notes once a month. The yield on the ten-year T-notes is a benchmark in the financial markets.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Clear Channel International: The Only Junk Bond Issuer in the Week Ending December 11

    An indirect and wholly owned subsidiary of Clear Channel Outdoor Holdings, Clear Channel International issued $225 million in dollar-denominated junk bonds.

    By Lynn Noah
  • uploads///Total IG Bond Issuance for November
    Company & Industry Overviews

    Halliburton Company Led High-Grade Bond Issuance in November

    Halliburton Company (HAL) issued A2/A rated high-grade bonds worth $7.5 billion in November.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Company & Industry Overviews

    Bid-to-Cover Ratio Rose for 2-Year Floating Rate Notes

    The U.S. Department of the Treasury introduced two-year FRNs (floating rate notes) in January 2014. An FRN is a debt security. Its interest payment varies.

    By Lynn Noah
  • uploads///Chinas transition
    Macroeconomic Analysis

    IMF Provides a Positive Assessment of China’s Economy

    In a press conference on June 14 on its annual Article Four Staff Report, the IMF provided a positive assessment of China’s economy.

    By Lynn Noah
  • uploads///Chinas Consumer Price Index and Producer Price Index
    Macroeconomic Analysis

    China’s PPI Data Continue to Point to a Deflationary Environment

    In December, China’s producer price index (or PPI) for manufactured goods fell 5.9% YoY, as manufacturers resorted to price-cutting due to weak demand.

    By Lynn Noah
  • uploads///Total IG Bond Issuance for the Week Ending November
    Company & Industry Overviews

    AstraZeneca Issued High-Grade Bonds to Acquire ZS Pharma

    Last week, AstraZeneca issued A2/A rated high-grade bonds worth $6.0 billion to fund the acquisition of ZS Pharma (ZSPH).

    By Lynn Noah
  • uploads///Mutual Funds Exposure to Financial and Consumer Discretionary Sector
    Macroeconomic Analysis

    Impact of the Slowdown in China’s Retail and Financial Sectors

    The financial sector is the largest sectoral component of all four mutual funds. So how the sector performs will have a major impact on the returns of these funds.

    By Lynn Noah
  • uploads///Slowdown in Export and GDP growth rate
    Fund Managers

    Analyzing China’s Leading Economic Index

    China’s Leading Economic Index currently indicates that the country’s economy is facing a downturn. Its LEI remained unchanged at 98.71 points in July 2015.

    By Lynn Noah
  • uploads///Chinas Burgeoning Debt Burden
    Company & Industry Overviews

    What Do Hedge Fund Managers Have to Say about China?

    Hedge fund managers have expressed mixed opinions about the Chinese economy. China’s total debt-to-GDP ratio is currently in the range of 240%–270%, compared to 150% a decade ago.

    By Lynn Noah
  • uploads///Exposure to hg div st
    Company & Industry Overviews

    How to Gain Exposure to High-Dividend Yield Stocks

    Among the options for investing in high-dividend yield stocks, dividend mutual funds pay out a dividend at regular intervals to their fund holders. They hold a basket of equities that pay dividends.

    By Lynn Noah
  • uploads///Chinas Official Manufactuirng Purchasing Managers Index
    Macroeconomic Analysis

    China’s Official Manufacturing PMI Nudged Down in November

    China’s official Manufacturing PMI reading for November was slightly down and came at 49.6 as compared to 49.8 in October. This index is released every month.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    MDC Partners Issued the Most Junk Bonds in the Week to March 18

    MDC Partners (MDCA) offers marketing and communication network services. It issued dollar-denominated junk bonds worth $900 million on March 18.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds Witness Largest Outflow of 2015

    Flows into investment-grade bond funds were negative for the week ended August 26, making it the fifth successive week of outflows. It was the largest outflow of 2015 so far.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High Yield Bond Issuance Hit 2016 Record Last Week

    High yield bond issuance surged last week and hit its highest level in 2016 yet due to continued growth in volume.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Company & Industry Overviews

    Why the Bid-to-Cover Ratio Rose for 2-Year Floating Rate Notes Auction

    The US Treasury introduced two-year floating rate notes (or FRNs) in January 2014.

    By Lynn Noah
  • uploads///Chinas New Yuan Loans
    Macroeconomic Analysis

    China’s New Loan and Aggregate Financing Plans: Are They Working?

    New loans issued by Chinese banks rose to 1.4 trillion yuan ($211.2 billion) up from 726.6 billion yuan ($112.0 billion) in February 2016.

    By Lynn Noah
  • uploads///US Investment Grade Bond Market Issuance
    Company & Industry Overviews

    Investment-Grade Corporate Bonds’ Issuance Fell Last Week

    Investment-grade corporate bonds worth $28.8 billion were issued in the primary market in the week to May 27, 2016.

    By Lynn Noah
  • uploads///Performance of China Focused Mutual Funds
    Macroeconomic Analysis

    The SSE Composite Index’s Performance since the Fed Rate Hike

    The SSE Composite Index rose after the US Federal Reserve decided to raise the interest rate by 25 basis points. From December 9–16, 2015, the index rose 1.3% and closed at 3,516.2 points on December 16.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High-Yield Bond Issuance Fell after the FOMC’s Dovish Statement

    Last week brought the total US dollar-denominated issuance of high-yield debt to $24.3 billion in 2016 YTD. It’s 71.0% lower than the same period in 2015.

    By Lynn Noah
  • uploads///Duration of Fixed Income Mutual Funds
    Macroeconomic Analysis

    Choosing between Short- and Long-Term Fixed-Income Mutual Funds

    Bond prices fall when interest rate rise. So when interest rate rises, the value of a bond or a bond portfolio falls.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Fund Managers

    Market Participants Make a Beeline for 2-Year Floating Rate Notes

    The US Department of the Treasury introduced two-year FRNs (floating rate notes) in January 2014. An FRN is a debt security. Its interest payment varies.

    By Lynn Noah
  • uploads///Total IG Bond Issuance for the WE Nov
    Company & Industry Overviews

    Metlife Global Funding I Issued $1.25 Billion in High-Grade Bonds

    A subsidiary of MetLife, Inc. (MET), Metlife Global Funding I is a special purpose statutory trust. It issued $1.25 billion in high-grade bonds rated Aa3/AA- in two parts.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High-Yield Bond Market Had a Strong Performance Last Week

    High-yield bond issuance activity was strong last week. Dollar-denominated high-yield debt amounting to $10.1 billion was issued in the week ending April 22.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds Saw Outflows for Third Week in a Row

    Investment-grade bond issuance fell to $26.275 billion last week as compared to $32.35 billion in the previous week.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Saw Sharp Contraction in Outflows Last Week

    According to data from Lipper, leveraged loan funds saw outflows for the fourth consecutive week. But the quantum of outflow was tepid.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Saw Inflows after 4 Weeks of Outflows

    The inflows into the leveraged loan funds came in at $136.5 million during the week ending July 13—compared to an outflow of $17.5 million the previous week.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    Why High Yield Bond Market Issuance Gained Traction Last Week

    High yield bond issuance activity gained traction last week on improved Market sentiment. The total US dollar-denominated issuance of high yield debt is $60.8 billion in 2016 YTD.

    By Lynn Noah
  • uploads///Personal Consumption Expenditures PCE Price Index
    Macroeconomic Analysis

    What Do the PCE Price Index and Break-Even Inflation Indicate?

    The PCE price index is the Federal Reserve’s preferred measure of inflation because it covers the broadest set of goods and services.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Witness Back-to-Back Inflows

    According to data from Lipper, leveraged loan funds saw an inflow for the second consecutive week. The quantum of inflows came in at $176 million last week.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Company & Industry Overviews

    Why Overall Demand Tanked for 2-Year Floating-Rate Notes

    Overall, $13 billion worth of floating-rate notes were auctioned, the same as in February’s auction.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Why Leveraged Loan Funds Saw Outflows Last Week

    According to S&P Capital IQ Leveraged Commentary & Data, three collateralized loan obligation deals worth $1.4 billion were priced last week.

    By Lynn Noah
  • uploads///Chinas New Yuan Loans
    Macroeconomic Analysis

    China’s New Yuan Loans Rose in May, but Its Debt Pile Increased

    According to the People’s Bank of China, new loans issued by Chinese banks rose to 985.5 billion yuan ($150 billion) in May from 555.6 billion yuan ($85.2 billion) in the previous month.

    By Lynn Noah
  • uploads///Performance of China focused Mutual Funds
    Macroeconomic Analysis

    Why Did the SSE Composite Index Fall?

    The SSE (Shanghai Stock Exchange) Composite Index fell by 0.4% from November 12 to November 19. It ended at 3,617.06 points on November 19, 2015.

    By Lynn Noah
  • uploads///Sharpe Ratio
    Macroeconomic Analysis

    Analyzing Risk-Adjusted Returns of Four China-Focused Mutual Funds

    Risk-adjusted returns is a concept that can be used to determine how much return an investment can provide with the given level of risk associated with it.

    By Lynn Noah
  • uploads///MNI Chinas Business Sentiment indicator
    Macroeconomic Analysis

    China’s MNI Business Sentiment Expanded in April, Caution Prevails

    China’s MNI Business Sentiment Indicator expanded to 50.5 in April due to stimulus measures from Chinese authorities to boost economic growth.

    By Lynn Noah
  • uploads///Movement in  Yr  Yr and  Yr Treasury Yields
    Company & Industry Overviews

    T-Notes Auction: Poor Demand amid the FOMC Meeting

    The overall demand fell for the seven-year T-notes auction because the FOMC meeting didn’t give any clarity regarding an interest rate hike in the future.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Mednax Issued Most Junk Bonds Back in December 2015

    Mednax is a national medical group. It had issued junk bonds worth $750 million on December 1. Mednax would use the proceeds of the loan for refinancing.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Company & Industry Overviews

    Direct Bidders Flocked to 2-Year Floating Rate Notes Auction

    The U.S. Department of the Treasury introduced two-year floating rate notes (or FRNs) in January 2014. An FRN is a debt security. Its interest payment varies, hence the name.

    By Lynn Noah
  • uploads///Movement in Short Term Treasury Yields
    Company & Industry Overviews

    How Did US Treasury Auctions Fare Last Week?

    The US Department of the Treasury’s 26-week Treasury bill, or T-bill, auction, totaled $26 billion last week.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Witnessed a Small Outflow Last Week

    According to data from Lipper, leveraged loan funds saw outflows for the third consecutive week. The quantum of outflows came in at $73 million last week.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High-Yield Bond Market Issuance Was Highest Year-to-Date

    High-yield bond issuance activity increased significantly last week on a firm market condition. Issuers were in a rush to close deals ahead of Memorial Day weekend.

    By Lynn Noah
  • uploads///Fidelity China Region Fund Class C
    Fund Managers

    How Did the Fidelity China Region Fund Class C Perform in August?

    The Fidelity China Region Fund Class C (FHKCX) aims to achieve long-term capital growth.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Fund Flows Slowed Last Week

    According to Lipper fund flow data, investment-grade bond funds saw net inflows of $2.2 billion during the week ended August 17, 2016.

    By Lynn Noah
  • uploads///Chinas Consumer Price Index and Producer Price Index
    Macroeconomic Analysis

    Why China’s CPI Data Were Stronger in February

    In February, China’s CPI (consumer price index) rose 2.5% YoY—the largest rise since July 2014. It was also higher than the 1.8% YoY rise in January.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Funds Saw Continued Outflows Last Week

    Investment-grade bond funds have seen YTD net outflows of $1.87 billion up to January 13, 2016. High-grade bonds worth $62.47 billion—the highest in 2016 so far—were issued last week.

    By Lynn Noah
  • uploads///Chinas New Yuan Loans fell sharply in February
    Macroeconomic Analysis

    China’s New Yuan Loans, Aggregate Financing Dropped in February

    China’s aggregate financing also fell sharply from 3417.3 billion yuan ($525 billion) in January to 780.2 billion yuan ($120 billion) in February.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds See Outflows for 4 Consecutive Weeks

    Flows into investment-grade bond funds were negative for the week ended August 21, making it the fourth successive week of outflows. The funds saw net outflows of $1.09 billion.

    By Lynn Noah
  • uploads///Chinas New Yuan Loans
    Company & Industry Overviews

    China’s New Yuan Loans and Aggregate Financing Plummeted in April

    China’s aggregate financing dropped to 751.0 billion yuan ($115.2 billion) in April from 2.3 trillion yuan ($361 billion) in March.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Why Qorvo and HCA Issued Most Junk Bonds

    Qorvo is a company involved in radio frequency systems and defense. It issued junk bonds worth $1.0 billion last week that were rated as Ba1/BB+.

    By Lynn Noah
  • uploads///Performance of China Focused Mutual Funds
    Fund Managers

    SSE Composite Index Falls despite China’s New IPO System

    The SSE Composite Index fell by 1.8% from December 2 to December 9 and closed at 3,472.44 on December 9, 2015.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High-Yield Bond Issuance Recorded Is the Highest in 2016 YTD

    High-yield bond issuance surged last week and recorded its highest level in 2016 due to improved primary market sentiment.

    By Lynn Noah
  • uploads///swift_rmb_inside_dec x
    Macroeconomic Analysis

    China’s Yuan Share Rose in Global Currency Payments

    According to the latest SWIFT RMB Tracker, the yuan—also known as the “renminbi”—accounted for 2.3% of the global payments in November 2015.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Funds Witnessed Outflows in 1Q16

    According to Lipper fund flows data, investment-grade bond funds saw net outflows of $517.5 million in 1Q16.

    By Lynn Noah
  • uploads///Key issues in China
    Macroeconomic Analysis

    Key for Investors: 5 Issues Are Choking Real Growth in China

    We think that 2016 will be challenging for the Chinese economy. With policy support and improved credit conditions, economic activity stabilized in 1Q16.

    By Lynn Noah
  • uploads///Junk Bond Yields in  and
    Macroeconomic Analysis

    Concordia Healthcare: Last Week’s Highest Junk Bond Issuer

    Concordia Healthcare, a healthcare company focused on legacy pharmaceutical products and orphan drugs, issued junk bonds worth $790 million last week.

    By Lynn Noah
  • uploads///Chinas Official Manufactuirng Purchasing Managers Index
    Macroeconomic Analysis

    China’s Official Manufacturing PMI Nudged Up in December

    China’s official manufacturing PMI reading for December 2015 was up slightly and came in at 49.7. However, it was still in contraction mode compared to 49.6 in November.

    By Lynn Noah
  • uploads/// Year Floating Rate Note Issuance Versus Bid Cover Ratio
    Company & Industry Overviews

    High Discount Margin: Highest Ever for 2-Year Floating Rate Notes

    The US Department of the Treasury introduced two-year FRNs (floating rate notes) in January 2014. An FRN is a debt security. Its interest payment varies.

    By Lynn Noah
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    Why Was High-Yield Bond Issuance Slow Last Week?

    Last week brought the total US dollar-denominated issuance of high-yield debt to $66.5 billion in 2016 YTD—47.0% lower than the same period in 2015.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds See a Second Week of Outflows

    Flows into investment-grade bond funds were negative for the week ended August 5—marking a second successive week of outflows.

    By Lynn Noah
  • uploads///Price Movement in the VFINX and the SPY
    Company & Industry Overviews

    Why Did US Stock Indices Rise?

    Treasury yields fell across the yield curve last week after the US Department of Labor reported that the economy added fewer jobs in April.

    By Lynn Noah
  • uploads/// Week Treasury Bill Issuance versus Bid Cover Ratio
    Company & Industry Overviews

    How Did the Brussels Attack Affect 4-Week Treasury Bill Demand?

    Market demand for the four-week Treasury bills rose from 38.1% in the previous week to 41.0% last week.

    By Lynn Noah
  • uploads///Factors affecting Feds rate hike decision
    Macroeconomic Analysis

    Is the US Economy Ready for Another Rate Hike?

    With the US economy gearing itself up for the another rate hike, investors are investing in short-term Treasury securities whose price will fall less in value when interest rates rise.

    By Lynn Noah
  • uploads///Templeton China World Fund Class A TCWAX
    Macroeconomic Analysis

    TCWAX Fell Due to Weak Global Demand

    For the month ending on November 30, 2015, TCWAX fell by 2.8% due to weakness in global demand and lower commodity prices.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Funds Saw Inflows Last Week

    Flows into investment-grade bond funds were positive last week. Investment-grade bond funds saw net inflows of $907.1 million during the week ending July 6.

    By Lynn Noah
  • uploads/// Week Treasury Bill Issuance versus Bid Cover Ratio
    Company & Industry Overviews

    Bid-to-Cover Ratio Jumped for 4-Week Treasury Bills

    The US Treasury conducted its weekly auction of four-week Treasury bills (or T-bills) on December 8, 2015. The issuance was $45 billion.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Did Leveraged Loan Funds Break a 32-Week Streak of Outflows?

    Leveraged loan funds saw inflows in the week ending March 9 after 32 consecutive weeks of outflows. However, the amount of inflows was small at $55.0 million last week.

    By Lynn Noah
  • uploads///US Investment Grade Bond Market Issuance
    Company & Industry Overviews

    Investment-Grade Corporate Bond Issuances Fell after Thanksgiving

    Investment-grade corporate bond issuances worth $2.65 billion for the week ended November 27, 2015, and fell 92% from the previous week.

    By Lynn Noah
  • uploads///Price Movement in the VFINX and the JNK
    Macroeconomic Analysis

    After the Fallout from Brexit, the Fed’s Hands Are Tied Again

    With the Brexit fallout, the Federal Reserve will most likely delay the next interest rate hike until the end of this year or even next year.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Funds Record Highest Inflows of 2016

    According to Lipper funds flow data, investment-grade bond funds saw net inflows of $3.1 billion—the highest inflows YTD (year-to-date)—during the week ending April 27.

    By Lynn Noah
  • uploads///US Investment Grade Bond Fund Flows
    Macroeconomic Analysis

    Investment-Grade Bond Funds Witness Inflows

    Flows into investment-grade bond funds were positive for the week ending on October 14 after witnessing four consecutive weeks of outflows.

    By Lynn Noah
  • uploads///Caxin Composite PMI
    Macroeconomic Analysis

    How Did China’s Service Sector Fare in March?

    China’s service sector expanded at a moderate pace in March. The Caixin China General Services Business Activity Index beat the neutral value of 50 to come in at 51.3 in March.

    By Lynn Noah
  • uploads///Portfolio Composition
    Macroeconomic Analysis

    What Are the Portfolio Compositions of CHNIX and MCHFX?

    Stocks from the financial sector form the biggest chunk of both funds. These stocks make up 33.9% of CHNIX, while forming 23.8% of the MCHFX.

    By Lynn Noah
  • uploads///Performance of China focused Mutual Funds
    Macroeconomic Analysis

    SSE Composite Index Falls on Worries of a US Interest Rate Hike

    The SSE Composite Index fell 1.0% to 2,807.51 from May 11 to May 18, 2016, after the minutes of the Federal Reserve’s April policy meeting hinted that a rate hike might happen in June.

    By Lynn Noah
  • uploads///Manufacturing PMI and GDP
    Macroeconomic Analysis

    Are There Opportunities amid China’s Manufacturing Slump?

    China’s manufacturing sector has been plagued by weak demand, rising labor costs, overcapacity in industries, and tighter resource and environmental constraints.

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  • uploads///Price Movement in the VFINX and the JNK
    Company & Industry Overviews

    How Did Junk Bond Yields Fare ahead of the FOMC Meeting?

    Junk bond yields fell 18 basis points week-over-week and ended at 8.38% on March 11, 2016.

    By Lynn Noah
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