Month: March 2020

(Bloomberg) — The stock rout in Asia’s emerging markets is going from bad to worse. After most gauges tumbled into bear territory in the last few weeks, now the plunge is triggering trading halts.Circuit breakers were triggered in Thailand and the Philippines after the benchmark gauges of both countries slumped 10%, the most in Asia. Indonesia, where the stock exchange just tightened its rules, also suspended trading as the Jakarta Composite Index fell 5%.Both the SET Index and the Philippine Stock Exchange Index tanked the most since October 2008, as foreign investors liquidated their equity holdings fast in a region …read more […]

The bank, which now rates Boeing “neutral”, said the added hit from the coronavirus to airlines made it impossible to stick with its call that investors should wait out the grounding of the company’s 737 MAX planes this year. Boeing said on Wednesday it was freezing new hiring and overtime except in certain critical areas to preserve cash, and the company is also moving to draw down funds from existing loan facilities as it battles the worst crisis in its history. “Our desire to hang in with Boeing until the return of the 737 MAX has worked out …read more […]

The market is likely to stay under severe pressure as the coronavirus af …read more […]

British cinema operator Cineworld said on Thursday it could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, sending its shares down 20%. The company, whose biggest shareholder sold a part of Cineworld’s stake last week to refinance debt, has been grappling with worries about the potential impact of the coronavirus on box office attendance as the epidemic shows no signs of slowing. Cineworld is saddled with $3.5 billion in debt, excluding leases, as it begins to pay for its takeover of …read more […]

(Bloomberg) — Coronavirus-induced market mayhem has pushed so much liquidity out of U.S. Treasuries that the true value of more than $50 trillion in assets around the globe is in doubt.Yields in the world’s largest debt market have been on a mind-bending, three-week roller-coaster ride. At one point, the entire U.S. yield curve was below 1% for the first time ever. But this week rates have jumped from Monday’s all-time lows even though fear of the virus has intensified, and U.S. stocks sank into a bear market Wednesday. The biggest oil-price plunge since 1991 also stirred chaos this week.This volatility …read more […]