22nd July 2020

“Following the Fed’s announcements of direct corporate bond and ETF purchases (high yield and investment grade), credit spreads have contracted sharply – over 500bps in the high yield space. With spreads now closer to their long-term average, and significant economic uncertainty remaining, we would posit that the scope for spread tightening is more challenging despite […] more

12th November 2018

British American Tobacco, the FTSE listed Tobacco company’s bonds and stocks have traded down today (12 Nov-18) due to a press article discussing a potential FDA ban on menthol cigarettes.  Menthols last year represented 55% of BAT’s U.S. cigarette sales by volume (Source: WSJ), which makes any potential new regulation in this area a material […] more