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Chinese Company Pays Bondholders In Ham Instead Of Cash As Domestic Defaults Soar

Chinese Company Pays Bondholders In Ham Instead Of Cash As Domestic Defaults Soar

Forget PIK – this is PIG. Regular readers of Zero Hedge are probably familiar with money-for-oil loans. But one liquidity-challenged pork producer is pushing an absurd twist on that concept that has helped to expose the financial dysfunction at many small- and medium-sized Chinese companies. Instead of receiving cash, holders of local-currency bonds issued by Zhengzhou-based pork producer […]
Corporate Debt Demand Spikes To Four-Month High Amid US Elections

Corporate Debt Demand Spikes To Four-Month High Amid US Elections

Talking Points: HYG saw $1.2 billion enter the fund as investors gained confidence in the staying power of regulations passed by the Trump administration The IVV,VOO and SPY funds saw $2.2 billion in new capital on a mixed but timidly green trading week Trade wars will likely be the driving force behind next week’s ETF flows […]
Sector Watch: Resistance Headwinds Starting To Emerge

Sector Watch: Resistance Headwinds Starting To Emerge

Old and broken trend lines are trying to stall out the current market rally. The market is trying to sell off, though since the 2:30 turn, the bulls have been on an ungodly buying spree, wiping out half of the day’s losses, and inspiring the bulls that the worst may be behind it. Where this market […]
Third Point Discloses New Position In American Express In Quarterly Letter

Third Point Discloses New Position In American Express In Quarterly Letter

In its Third Quarter 2018 Investor Letter, Third Point reported that the Third Point Offshore fund was down 0.1% in the quarter and is up 0.6% year-to-date, stating “Underperformance forces us to take a hard look at how our process let us down and, in this letter, we will try to share with you what […]
Week In Review: Stocks End Busy Week Mostly Higher

Week In Review: Stocks End Busy Week Mostly Higher

Stocks ended mostly higher after as investors digested a busy week of data. The two big events were the midterm election and the Fed meeting. Both events matched estimates and that helped the market rally. In the short term the market went from being deeply oversold to being slightly overbought, considering how much it rallied […]
Groupon (GRPN) Q3 Earnings Beat, Revenues Miss Estimates

Groupon (GRPN) Q3 Earnings Beat, Revenues Miss Estimates

Groupon Inc. GRPN reported mixed third-quarter 2018 results. The company delivered non-GAAP earnings of 4 cents per share, which beat the Zacks Consensus Estimate by a penny. Further, the figure increased from 1 cent reported in the year-ago period. Revenues of $592.9 million declined 7% on a year-over-year basis (6% at FX neutral), lagging the Zacks Consensus […]
Precious Metals Report – Friday, Nov. 9

Precious Metals Report – Friday, Nov. 9

(Video length 00:09:22) A review of today’s commodities market.
Converging Labor Trends

Converging Labor Trends

It was a forgettable moment. The Federal Reserve’s Chairman at the time, Janet Yellen, was asked about a key economic statistic and she just couldn’t come up with it. In September 2016, Yellen was on Capitol Hill to testify as she usually did about how things were surely getting better. Rep. Frank Guinta wanted to […]
Market Talk – Friday, Nov. 9

Market Talk – Friday, Nov. 9

Even as Chinas trade expanded, it really has done nothing for stock market confidence or sentiment, especially after the poor auto sales numbers. We saw more selling pressure today as the Shanghai core index closed 1.4% lower, with the Hang Seng under even more pressure resulting in a 2.4% decline. Money is still leaving the […]