Fixed income analysis

PJSC Magnit Announces the Interest Rate of the Coupon Yield against the Exchange-Traded Bonds

Retrieved on: 
Thursday, February 20, 2020
Fixed income analysis, Coupon, Bond, Yield, Government bond

Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Key Points: 
  • Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
  • Press Release | Krasnodar | February 20, 2020
    Krasnodar, Russia (February 20, 2020): Magnit PJSC (MOEX and LSE: MGNT; Issuer; Company; Group), one of Russia's leading retailers, announces the interest rate of coupon yield against the Exchange-traded bonds of the BO-002-01 series.
  • The interest rate of the 2nd, 3rd, 4th, 5th and 6th coupon periods is equal to the interest rate of the 1st coupon period which amounts to 30 (Thirty) rubles 92 kopecks per one Exchange-traded bond.
  • Reporting period which the Exchange-traded bonds yield is paid for:
    The Exchange-traded bonds have 6 coupon periods.

US yield curve inversion and financial market signals of recession

Retrieved on: 
Friday, February 7, 2020
Economy, Finance, Money, Fixed income analysis, Fixed income, Yield curve, Financial markets, Recession, Yield, Probability, Business cycle

The inversion of the US yield curve in mid-2019 led to heightened concerns about a possible US recession.

Key Points: 
  • The inversion of the US yield curve in mid-2019 led to heightened concerns about a possible US recession.
  • The US yield curve is often seen as a predictor of recessions: a flattening or inversion of the yield curve (or negative term spread), in which interest rates at the long end are below those at the short end, has often been understood as a signal of an impending recession.
  • In late summer 2019 the US yield curve inverted for the first time since the global financial crisis (see Chart A).
  • This box presents an assessment of the probability of a recession in the United States, taking into account developments that have distorted the signals derived from the current yield curve.
  • Standard yield curve-based recession probability models ignore factors that can distort the signals derived from the current yield curve.
  • [1] Yield curve-based recession models typically relate the probability of recession to a measure of the term spread i.e.
  • First, since the global financial crisis, US long-term yields have been compressed by asset purchases by the Federal Reserve System.
  • As demand from foreign central banks is typically price-inelastic, long-term yield compression is likely to occur independently of recession risks in the US economy.
  • As a consequence, the signals from standard recession probability models based on the yield curve may be distorted.
  • This box presents alternative recession probability models to deal with these possible distortions to the signals from the yield curve.
  • [3] Adjusting the ten-year yield for the effects of QE leads to a markedly larger difference between the three-month and ten-year US Treasury yield (i.e.
  • [5][6] Finally, the US term spread is corrected for these spillovers from APP announcements by adding the estimates to the US ten-year yield.
  • As shown in Chart B, in August 2019, at the point of the greatest yield curve inversion, the predicted one-year-ahead recession probability based on a model using the standard term spread was 37%.

C-Tracks ETNs linked to the Miller/Howard MLP Fundamental Index, Series B (MLPE) To Pay Quarterly Coupon

Retrieved on: 
Tuesday, January 7, 2020
Professional services, Banking, Finance, Finance, Economy, Money, Financial markets, Fixed income analysis, Investment, Mathematical finance, Rate of return, Yield, Coupon, Alerian

This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.

Key Points: 
  • This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.
  • Based on their closing price on January 6, 2020 and the declared quarterly coupon, the annualized indicated yield of the ETN is 8.40%.
  • The annualized indicated yield is equal to the declared quarterly coupon multiplied by four, divided by the closing price of the ETN on January 6, 20201.
  • The price of the ETN may decline, resulting in a negative total return to an investor even if the ETN continues to pay a quarterly coupon.

Camtek to Present at the Needham Growth Conference on January 14

Retrieved on: 
Monday, January 6, 2020
Fixed income analysis, Yield

Camtek is scheduled to present on Tuesday, January 14, 2020 at 10:40am Eastern Time.

Key Points: 
  • Camtek is scheduled to present on Tuesday, January 14, 2020 at 10:40am Eastern Time.
  • At the conference there will be an opportunity for investors to meet one-on-one with Rafi Amit, CEO of Camtek.
  • Interested investors should contact the conference organizers at Needham or the Investor Relations team at Camtek.
  • Camtek provides dedicated solutions and crucial yield-enhancement data, enabling manufacturers to improve yield and drive down their production costs.

C-Tracks ETNs Linked to the Miller/Howard MLP Fundamental Index (MLPC) To Pay Quarterly Coupon

Retrieved on: 
Friday, December 27, 2019
Banking, Professional services, Finance, Finance, Economy, Money, Financial markets, Fixed income analysis, Investment, Mathematical finance, Rate of return, Yield, Coupon, Alerian

This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.

Key Points: 
  • This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.
  • Based on their closing price on December 26, 2019 and the declared quarterly coupon, the annualized indicated yield of the ETN is 8.28%.
  • The annualized indicated yield is not indicative of future coupon payments, if any, on the ETN.
  • The price of the ETN may decline, resulting in a negative total return to an investor even if the ETN continues to pay a quarterly coupon.

Georgia Capital PLC 3Q19 and 9M19 Trading Update

Retrieved on: 
Tuesday, October 22, 2019
Consulting, Accounting, Professional services, Finance, Bond duration, Fixed income analysis, Investment

Georgia Capital PLC ("the Group") has published today its trading update for the third quarter and nine months of 2019.

Key Points: 
  • Georgia Capital PLC ("the Group") has published today its trading update for the third quarter and nine months of 2019.
  • The trading update together with the supplementary financial information and investor presentation is available on the Groups website at https://georgiacapital.ge/ir/financial-results .
  • The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.
  • Firstly, operating cash flow generation across the private portfolio companies increased by 44.7% y-o-y in 3Q19 and by 67% y-o-y in 9M19.

CubeSmart Announces Pricing of 3.000% Senior Unsecured Notes Due 2030

Retrieved on: 
Tuesday, October 8, 2019
Fixed income analysis, Finance, Financial markets, New York Stock Exchange, Yield to maturity, Yield

MALVERN, Pa., Oct. 08, 2019 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced that its operating partnership, CubeSmart, L.P. (the Operating Partnership), priced an offering of $350.0 million aggregate principal amount of 3.000% senior unsecured notes due 2030 (the Notes) in an underwritten public offering.

Key Points: 
  • MALVERN, Pa., Oct. 08, 2019 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced that its operating partnership, CubeSmart, L.P. (the Operating Partnership), priced an offering of $350.0 million aggregate principal amount of 3.000% senior unsecured notes due 2030 (the Notes) in an underwritten public offering.
  • The Notes were priced at 99.623% of the principal amount with a yield to maturity of 3.043%.
  • The Notes will be fully and unconditionally guaranteed by CubeSmart.
  • The offering is expected to close on October 11, 2019, subject to the satisfaction of customary closing conditions.

C-Tracks ETNs linked to the Miller/Howard MLP Fundamental Index, Series B (MLPE) To Pay Quarterly Coupon

Retrieved on: 
Monday, October 7, 2019
Banking, Professional services, Finance, Finance, Economy, Money, Financial markets, Fixed income analysis, Investment, Yield, Rate of return, Coupon, Alerian

This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.

Key Points: 
  • This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.
  • Based on their closing price on October 4, 2019 and the declared quarterly coupon, the annualized indicated yield of the ETN is 7.95%.
  • The annualized indicated yield is equal to the declared quarterly coupon multiplied by four, divided by the closing price of the ETN on October 4, 20191.
  • The price of the ETN may decline, resulting in a negative total return to an investor even if the ETN continues to pay a quarterly coupon.

UDR Prices $100 Million of 3.200% Senior Unsecured Notes Due 2030 and $300 Million of 3.100% Senior Unsecured Notes Due 2034 and Announces Redemption of All Outstanding 4.625% Senior Unsecured Notes Due January 2022

Retrieved on: 
Wednesday, October 2, 2019
REIT, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Fixed income analysis, Yield

The 2030 notes were priced at 103.319% of the principal amount, plus accrued interest from July 2, 2019 to yield 2.817% to maturity.

Key Points: 
  • The 2030 notes were priced at 103.319% of the principal amount, plus accrued interest from July 2, 2019 to yield 2.817% to maturity.
  • The 2034 notes were priced at 99.557% of the principal amount, plus accrued interest from October 11, 2019 to yield 3.137% to maturity.
  • Upon completion of the offering, the aggregate principal amount of outstanding 2030 notes will be $400 million.
  • Interest is payable on the 2030 notes semiannually on January 15 and July 15 with the first interest payment due January 15, 2020.

C-Tracks ETNs Linked to the Miller/Howard MLP Fundamental Index (MLPC) To Pay Quarterly Coupon

Retrieved on: 
Thursday, September 26, 2019
Banking, Professional services, Finance, Finance, Economy, Money, Fixed income analysis, Financial markets, Investment, Mathematical finance, Rate of return, Yield, Coupon, Alerian

This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.

Key Points: 
  • This coupon reflects the ordinary cash distributions of the MLPs underlying the Miller/Howard MLP Fundamental IndexTM net of fees over this past quarter.
  • Based on their closing price on September 25, 2019 and the declared quarterly coupon, the annualized indicated yield of the ETN is 7.74%.
  • The annualized indicated yield is not indicative of future coupon payments, if any, on the ETN.
  • The price of the ETN may decline, resulting in a negative total return to an investor even if the ETN continues to pay a quarterly coupon.