European
Bond Traders Suffer High-Yield Anxiety on Losses - (www.bloomberg.com) Warning
signals are starting to flash for Europe’s biggest money managers as a selloff
in the U.S. high-yield bond market shows signs of crossing the Atlantic. Investors
in London and
Edinburgh say they’re either cutting holdings of junk notes, buying credit
derivatives to
insure against losses or moving into high-yielding debt backed by collateral,
such as oil rigs and cable networks. “We are treading very carefully in the
high yield space,” said Ariel Bezalel, who oversees the $3.8 billion Jupiter Strategic Bond (JUPSTII) fund in London. “We have had to say no to
the vast majority of transactions this year.” While the change in sentiment
isn’t as marked as in the U.S., where a record $7.1 billion was pulled out of
funds buying junk bonds in the week ended Aug. 6, bondholders that snapped up a
record $115 billion of high-yield securities in Europe this year are growing
wary.
German
Handelsblatt Releases Stunning Anti-West Op-Ed, Asks If "West
Rabble-Rousers Are On The Payroll Of The KGB" - (www.zerohedge.com) Up
until this point Angela Merkel, and German media in general, had been staunchly
on the side of the west when it comes to dealing with Russia, Putin and
realpolitik in broader terms. That changed dramatically today when Gabor
Steingart, the chief editor of Handelsblatt, Germany's leading economic
newspaper, came out with a stunning op-ed, in German,English and Russian,
titled simply that "The West on the wrong path" in which the editor
comes out very vocally against the autopilot mode German media has been on for
the past several months and calls for an end to a strategy of sanctions and
Russian confrontation that ultimately "harms German interests" and is
a dead end.
Obamacare
a windfall for insurers: Ex-Obama advisor
- (www.cnbc.com) Don't
believe the hype that insurance companies are getting squeezed on Obamacare.
That's the message from one of the architects of the president's health-care
law. "All of these companies are expanding greatly in the exchanges,"
Dr. Ezekiel Emanuel, former special advisor on health policy, told CNBC's
"Squawk Box"
on Friday. "Their revenues are up. Their profits are up. Their stocks are
up. They're not suffering because of" Obamacare. Last week, Aetna Chairman and CEO Mark Bertolini appeared
on the program, saying the insurer priced its 600,000 Obamacare customers who
tend to be older and sicker at lower margins.
US
May Introduce New Sanctions Against Russia Over Iran Oil Deal - (www.en.ria.ru) The
United States may introduce new sanctions against Russian companies due to the
recently signed oil deal between Moscow and Tehran, the US Treasury’s Under
Secretary for Terrorism and Financial Intelligence David Cohen said Thursday,
as reported by Reuters. Although it was still unclear whether Russia and Iran had agreed on an oil-for-goods swap, Cohen said
Washington had warned Russia against such a deal under the threat of additional
US sanctions, according to Reuters. Moscow and Tehran signed a five-year
memorandum of understanding on Monday aimed at boosting bilateral economic
cooperation. The agreement also envisions Russia taking an active role in the
construction and overhaul of Iran’s energy production facilities and electric
grids. The next high-profile meeting between the countries' delegations is
scheduled to take place in Tehran on September 9-10.
Draghi
Takes Aim at Italy as Recession Scars Euro Area - (www.bloomberg.com) Mario Draghi says Italy can only blame itself for its
third recession since 2008. The European Central Bank president singled out his
country’s lack of structural reform after data showed the euro-area’s
third-biggest economy unexpectedly contracted last quarter. The comments in
Draghi’s monthly press conference came a day before Italian Prime Minister Matteo Renzi won a key vote in his drive to remake the
country’s political system. “I keep on saying the same thing, really -- I mean,
of reforms in the labor market, in the product markets, in the competition, in
the judiciary, and so on and so forth,” Draghi, the former Bank of Italy
governor, said in Frankfurt yesterday after keeping ECB interest rates
unchanged at record lows.
China
to build lighthouses on five isles in defiance of U.S. call - (www.reuters.com)
Ebola Declared International Public Health Emergency - (www.bloomberg.com)
Obama authorizes air strikes in Iraq - (www.reuters.com)
Special Report: How scams and shakedowns brought down Ukraine to its - (www.reuters.com)
Ebola Declared International Public Health Emergency - (www.bloomberg.com)
Obama authorizes air strikes in Iraq - (www.reuters.com)
Special Report: How scams and shakedowns brought down Ukraine to its - (www.reuters.com)
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