LG Electronics Inc. is issuing an $800 million dollar bond, including a $300 million five-year sustainability security, to fund green and social projects. This marks the company's first ESG-labeled bond in global markets, with the proceeds aimed at initiatives like energy-efficient equipment and services for socially vulnerable groups. Moody's Ratings assigned a Baa2 grade to the proposed notes, reflecting LG Electronics' solid credit profile and diversified product portfolio, despite moderate profitability and intense competition. The bond sale is managed by banks including BNP Paribas SA, Citigroup Inc., HSBC Holdings Plc, and JPMorgan Chase & Co.

The article discusses the current financial environment for big banks, highlighting that they are not expected to seek additional funding in the short term due to their adequate capital reserves and the high borrowing costs. It notes that the spread on financial institution bonds is wider than that of the broader high-grade bond index, as per Bloomberg index data. The piece suggests that if banks are borrowing despite these conditions, it may indicate their anticipation of even higher borrowing costs in the future.

Gershon Distenfeld, co-head of fixed income at AllianceBernstein, suggests that the US is likely to experience a shallow recession, which positions high-yield bonds favorably. He believes these bonds are in a 'sweet spot' with low default risks and potentially better returns than equities. The debt market is seeing significant gains, with expectations of interest rate cuts by central banks. Distenfeld predicts mid single-digit returns for fixed income in 2024, a sentiment shared by Steve Dulake from JPMorgan. Despite more attractive valuations in Europe, Distenfeld advises US investors to hedge against currency risks when investing internationally.

JPMorgan Chase & Co. has issued green bonds for the first time since August 2021, raising $7.25 billion in a three-part offering. The sale includes a $2 billion green bond with a four-year maturity, which is callable after three years. The proceeds from the green bonds will fund eligible green projects as outlined in the bank's sustainable bond framework. Despite this move, overall U.S. corporate sales of ESG-linked bonds have decreased this year, with Goldman Sachs Group Inc. projecting a significant drop in ESG corporate investment-grade issuance. The decline is attributed to diminishing price benefits and political pushback against ESG investing strategies. JPMorgan's return to the green bond market comes after a quarter of record net interest income and an increased forecast for the year.

The leveraged loan market experienced a resurgence on Monday with the launch of nine deals. Among the companies involved, Scotiabank reported a miss in quarterly profit estimates due to higher-than-expected provisions for potential loan losses. BMC Software announced a cross-border loan offering aimed at extending the maturity of its existing debt, which includes a $2 billion term loan and a $1 billion euro-equivalent tranche. Charter Communications, known for its Spectrum brand, launched a $2.3 billion refinancing term loan. Additionally, Summit Materials initiated a process in the junk bond market.

JPMorgan Chase & Co. has issued green bonds for the first time in over two years, joining the surge in global sales of this environmentally-focused debt. The bank successfully raised $7.25 billion through a three-part bond offering. Of this, a $2 billion portion is designated as a green bond with a four-year term, which is callable after three years. The proceeds from the green bond sale are earmarked for financing eligible green projects. The specifics of the bond offering were provided by a source who wished to remain anonymous.

The article discusses the performance of blue-chip bond funds, particularly those managed by Vanguard Group Inc. and Pacific Investment Management Co. (Pimco), which have seen success by investing heavily in energy companies and banks. The funds are preparing for further gains in 2024, anticipating benefits from a potential Federal Reserve policy easing. The Vanguard Long-Term Investment-Grade Fund and the PIMCO Investment Grade Credit Bond Fund are highlighted for their strong returns in the previous year. Fund managers, including Pimco's Mark Kiesel and Wellington's Scott St. John, express optimism about the energy sector, especially in liquefied natural gas (LNG), and the financial sector. The article also mentions insights from other fund managers who have seen success in various sectors, including municipal bonds, securitized credit, and technology-related corporate sectors.

JPMorgan Chase & Co. has issued green bonds for the first time in over two years, joining the surge in global sales of this environmentally-focused debt. The bank successfully raised $7.25 billion through a bond offering divided into three parts. Notably, a $2 billion portion of this offering is designated as a green bond with a four-year term, which is callable after three years. The proceeds from this green bond are earmarked for financing eligible green projects. The specifics of the bond offering were provided by a source who wished to remain anonymous.

U.S. investment-grade bonds experienced their most significant monthly gain since 2008, with a 6% increase in November. This surge was largely attributed to a rally in Treasuries, as market participants speculated that the Federal Reserve might halt interest rate hikes. Additionally, junk bonds also saw substantial gains, with a 4.53% rise in November, marking the highest monthly increase since July 2022. The performance of these bonds was particularly strong in the BB-rated segment.

Major banks are unexpectedly entering the market with new financial deals despite the anticipation that they would remain inactive due to sufficient short-term funding and high borrowing costs. Wells Fargo and JPMorgan have raised a significant sum of $13.25 billion on Monday. Following suit, PNC Financial Services Group Inc. has also been active, pricing a $3.5 billion deal in two parts on Tuesday. This surge in market activity by banks may indicate their expectation of rising borrowing costs in the future.

Masdar, a solar power plant operator in the UAE, is planning to issue its second green bond, aiming to raise up to $1 billion. This follows a previous $750 million borrowing. CFO Niall Hannigan indicated the issuance could occur within six to nine months, potentially in the US, as part of a plan to fund clean energy projects totaling at least $3 billion. Despite a lack of 'greenium'—a lower cost of borrowing for green bonds—Masdar's first green bond saw high demand, with investor interest surpassing $4.2 billion. The company is rated A2 by Moody’s and A+ by Fitch Ratings. Hannigan also discussed the challenges of directing capital towards green energy projects in developing regions during a panel by the Climate Bond Initiative.

SQM, the world's second-largest lithium supplier, has entered the US investment-grade bond market by selling $750 million in green bonds with a 10-year maturity. The bonds are intended to support the growing demand for lithium used in electric vehicle batteries. The offering, which was managed by Bank of America Corp., JPMorgan Chase & Co., and Banco Santander SA, was priced at about 190 basis points above comparable Treasuries. SQM is also negotiating a new contract in Chile that requires more sustainable practices and has budgeted over $2 billion for environmentally friendly technologies. Additionally, SQM is expanding in Australia with a $1 billion offer to acquire Azure Minerals Ltd. The sale comes amid a decrease in Latin American ESG bonds this year compared to last.

Ford Motor Co. has received an upgrade to its credit rating, achieving investment grade status from S&P Global Ratings. This upgrade resulted in $46.8 billion of Ford's debt being removed from junk bond indexes, marking the largest reduction in the global benchmark for this asset class since 2005. The upgrade reflects a broader trend of companies strengthening their financial positions in anticipation of a potential recession. Industry experts, including Matt Brill, suggest that this may be the start of a wider trend in the market.

UBS Group has successfully attracted strong investor interest for its sale of additional tier 1 (AT1) bonds. This marks the first time UBS has issued such securities since the notable writedown by Credit Suisse, which affected approximately $17 billion of its own AT1 debt. Concurrently, Westpac Banking is also engaging in the market. The article also notes a tightening in the spread of the Markit CDX North American Investment Grade Index, indicating a decrease in credit risk. UBS's issuance consists of two dollar-denominated perpetual tranches, which are callable in five and ten years, aimed at strengthening its AT1 capital layer.

SQM, the world's second-largest lithium supplier, has issued $750 million in green bonds with a 10-year maturity to support its lithium extraction and processing projects, which are crucial for electric vehicle batteries. The bonds were sold at a yield of approximately 190 basis points above comparable Treasuries. This move comes as the company is negotiating a new contract in Chile that requires more sustainable practices and is expanding in Australia with a $1 billion offer to acquire Azure Minerals Ltd. The bond sale was managed by Bank of America Corp., JPMorgan Chase & Co., and Banco Santander SA. Latin American companies and governments have seen a decrease in ESG bond issuance compared to the previous year.

The article discusses the performance of blue-chip bond funds, particularly those managed by Vanguard Group Inc. and Pacific Investment Management Co. (Pimco), which have seen significant gains by investing in energy companies and banks. The funds are preparing for further gains in 2024, with a focus on sectors like liquefied natural gas and financials. The Vanguard Long-Term Investment-Grade Fund and the PIMCO Investment Grade Credit Bond Fund are highlighted for their strong returns in the past year. Fund managers from both Vanguard and Pimco, as well as other investment firms, share their strategies and outlook for the bond market. The article also promotes the Winnipeg Sun's subscription service and mentions the benefits of subscribing.

The article discusses the active bond market, with issuers pricing nearly $24 billion in new bonds on Monday. It also mentions several junk and loan deals in the market on Tuesday. The focus then shifts to WeWork, a prominent office tenant in Manhattan, which has filed for bankruptcy with nearly $19 billion in debts. The article notes a weaker sentiment on Tuesday morning due to doubts about potential interest rate cuts, which could affect the timing of new bond issuances. Additionally, it reports a slight widening in the spread on the Markit CDX North American Investment Grade Index, indicating a small increase in credit risk.

JPMorgan Chase & Co. has issued green bonds for the first time in over two years, joining the surge in global sales of environmentally-focused debt. The bank successfully raised $7.25 billion through a multi-part bond offering, which includes a $2 billion green bond with a four-year term, callable after three years. The proceeds from this green bond are earmarked for funding projects that meet certain environmental criteria, although specific projects were not detailed in the article. The issuance reflects a growing trend in the financial industry to support environmental initiatives through dedicated financial instruments.

Investors are showing an increased appetite for long-term bonds, motivated by the high yields that compensate for the risk of continued interest rate hikes by the Federal Reserve. Despite the potential for further rate increases, which some analysts predict after a recent consumer price index report indicated higher-than-expected inflation, the yields on long-dated debt have reached an attractive level. The average yield for debt with a maturity of over 25 years has climbed to 5.8%. This trend is partly due to a shortage of long-duration offerings this year, which has resulted in a scarcity premium for such investments.

The article discusses the recent trends in sustainable debt issuance, highlighting that it has fallen to its lowest share of overall bond sales since 2020, according to Bloomberg data. In North America, these bonds accounted for only 2% of all sales. Globally, green, social, sustainability, and sustainability-linked bonds raised $790.8 billion this year through October 31, which is 6% of the total $12.4 trillion in bonds sold, a decrease from 10% in the previous year. The article implies a decline in the proportion of ESG (Environmental, Social, and Governance) bonds in the total bond market.

SQM, the world's second-largest lithium supplier, has entered the US investment-grade bond market by selling $750 million in green bonds with a 10-year maturity. The bonds are intended to support the growing demand for rechargeable batteries in electric vehicles. The yield on these bonds is set at approximately 190 basis points above comparable US Treasuries, which is slightly lower than the initially discussed 200 basis points. This information was provided by a source familiar with the matter who wished to remain anonymous. SQM's previous green bond sale was in September 2021, where they raised $700 million.

Rite Aid, a US pharmacy chain, has filed for bankruptcy due to a significant debt burden exceeding $3 billion and ongoing litigation related to the opioid crisis. In response to the bankruptcy filing, Rite Aid has secured $3.45 billion in financing from lenders to maintain its operations during the bankruptcy process. Concurrently, the credit markets showed signs of firming up, with the Markit CDX North American Investment Grade Index indicating a slight decrease in credit risk. This market movement suggests an opening for high-grade issuers to potentially sell up to $30 billion in securities this week.

The article discusses the performance of blue-chip bond funds, particularly those managed by Vanguard Group Inc. and Pacific Investment Management Co. (Pimco), which have seen success by investing heavily in energy companies and banks. The funds are preparing for further gains in 2024, anticipating benefits from a potential Federal Reserve policy easing. The Vanguard Long-Term Investment-Grade Fund and the PIMCO Investment Grade Credit Bond Fund are highlighted for their strong returns in the previous year. Fund managers from both Vanguard and Pimco attribute their success to strategic investments in the energy sector, including liquefied natural gas, and in the financial sector. The article also touches on the strategies of other fund managers and their outlook for 2024.

Masdar, a prominent solar power operator in the UAE, is planning to raise up to $1 billion through a second green bond offering, following a $750 million borrowing earlier in the year. The company's CFO, Niall Hannigan, mentioned in an interview that this issuance is part of a broader plan to secure at least $3 billion for funding clean energy projects. The bond issuance is expected to take place within the next six to nine months, potentially targeting the US market.

Summit Materials is set to price its $800 million junk bond offering on Thursday. The market conditions are favorable for borrowers, with investment-grade companies possibly looking to introduce new deals. Occidental is in discussions to acquire CrownRock, a shale drilling company, which may impact the bond market. The Markit CDX North American Investment Grade Index, a measure of credit risk, showed a tightening of spreads, indicating reduced credit risk. High-grade spreads have also tightened to their lowest point since February 2022, suggesting a positive trend in the bond market.

Pacific Investment Management Co. (PIMCO), despite experiencing losses from the collapse of Credit Suisse's Additional Tier 1 (AT1) bonds, continues to invest in these high-yield, high-risk securities. Mark Kiesel, PIMCO's Chief Investment Officer for Global Credit, indicates that the company is still purchasing AT1s from issuers they consider safe. AT1 bonds are a form of bank debt that offer high returns but are vulnerable in times of financial distress.

Despite a growing backlash against diversity, equity, and inclusion (DEI) initiatives in corporate America, Siebert Williams Shank & Co., a leading minority-owned investment bank, continues to thrive. The firm has been successful in securing business and is ranked as the top minority underwriter for US investment-grade bonds and long-term municipal debt in 2023. Their clients, including Verizon and Amazon, have praised the firm for its performance and the pricing benefits achieved. The debate over DEI has intensified following conservative activism and a US Supreme Court decision against affirmative action, but Siebert Williams Shank & Co. has not been directly affected and remains well-positioned for future growth.

The article discusses a $1 billion bond deal where Wells Fargo & Co. took the top billing. It highlights the involvement of women- and minority-owned investment banks in significant financial roles, which historically have been underrepresented on Wall Street. The article notes that corporations like Verizon Communications Inc. are pushing for diversity by encouraging partnerships with diverse firms in their financial dealings. This move is contributing to a record year for deals involving women- and minority-led financial firms.

The article discusses the financial market's response to rising Treasury yields and the latest quarterly earnings results. It highlights AT&T's performance, noting that the company has raised its free cash flow guidance for the full year after reporting an increase in mobile subscribers and profits that surpassed analysts' expectations. The article also mentions the widening spread on the Markit CDX North American Investment Grade Index, which is an indicator of credit risk.

In November, the issuance of bonds to fund green initiatives reached $57 billion, marking the second-busiest month of the year. Industrial & Commercial Bank of China Ltd. and Electricite de France SA were among the notable issuers, with the latter pricing the first green bond in Europe for nuclear energy projects. The month also saw a rise in all types of ESG bonds to $82.6 billion. Despite this surge, Barclays Plc analysts predict that the total global ESG issuance for the year will be slightly lower than in 2022, with an expected $825 billion in 2024. The forecast suggests a continued dominance of green bonds but also an increase in sustainability-linked bond (SLB) supply.

Vanguard Group Inc., the world's second-largest asset manager, advises investors to embrace the current high interest rates and invest in corporate bonds, despite a recent rout in fixed income markets. The firm, managing $7.8 trillion globally, anticipates interest rates to stay elevated and projects a mild recession around mid-2024. Vanguard's fixed-income team, led by Sara Devereux, suggests that the Federal Reserve is close to concluding its rate hikes, making it an opportune time to secure higher yields for longer durations. They find high-quality investment-grade corporate bonds particularly attractive, as many companies have fortified their balance sheets. However, the market has experienced significant losses, with investment-grade bonds suffering due to their sensitivity to interest rate changes. Vanguard remains neutral on high yield bonds but sees potential in mortgage-backed securities and certain municipal bonds.

The article discusses the challenges faced by first-time sellers of ESG (Environmental, Social, and Governance) bonds due to high borrowing costs and economic uncertainties. It notes that the share of debut issuances in the sustainable bond market has reached a record low. Despite this, the overall sales of ESG bonds remain strong and are expected to approach 2021's record levels. The article highlights the importance of the green bond market in funding environmentally friendly projects and the billions of dollars required for the energy transition to achieve net zero emissions. It also touches on the political pushback against ESG bonds in the US and the need for issuers to demonstrate real environmental impact rather than just labeling bonds as 'green'.

The article discusses the challenges faced by first-time issuers of ESG bonds due to high borrowing costs and economic uncertainties. It notes that the share of debut issuances in the sustainable bond market has fallen to a record low, making up only 21% of the $677 billion raised this year through September 15. Experts from Sage Advisory Services and Mizuho Financial Group comment on the increased sophistication of the bond market and the lack of tangible economic benefits for issuing ESG bonds. Despite the slump in sales for first-time issuers, the overall ESG bond market is booming, with S&P Global Ratings predicting continued growth. The article also touches on the global push for environmentally friendly projects and the role of private credit, as highlighted by Nuveen and Bank of America Corp. BNP Paribas SA expects green bond sales to reach a record $600 billion this year. The article concludes with comments on the political challenges to ESG bonds in the US and the need for issuers to deliver real outcomes and impact.

Masdar, a UAE-based solar power plant operator, is planning to issue its second green bond, aiming to raise up to $1 billion. This follows an earlier borrowing of $750 million. The company's CFO, Niall Hannigan, mentioned in New York that the funds will support clean energy projects, with a goal of raising at least $3 billion. Despite a lack of evidence for a 'greenium'—a lower cost of borrowing for green bonds—Masdar's first green bond saw high demand, with investor interest exceeding $4.2 billion. The article also touches on the challenges of directing capital towards green energy projects in developing regions, a topic discussed by Hannigan at a Climate Bond Initiative panel.

The article discusses the success of blue-chip bond funds managed by Vanguard Group Inc. and Pacific Investment Management Co. over the past year, highlighting their strategic investments in energy companies and banks. The fund managers are optimistic about the future, expecting gains in 2024 due to the potential benefits for fuel producers and exporters from a slowing economy and a shift in Federal Reserve policy. They see opportunities in liquefied natural gas and believe that oil prices will remain stable enough to ensure cash flow and benefit bondholders. The article also notes the managers' continued interest in bank debt.

The article discusses the challenges facing the global sustainable debt market, which has seen a decline in ESG bond sales, reaching its lowest level since 2020. The decrease is particularly notable in North America, where ESG bonds accounted for only 2% of all bond sales. Factors contributing to the market's struggle include additional costs associated with labeling, higher interest rates, and increased scrutiny of environmental, social, and governance (ESG) criteria. Investors and credit strategists are lowering their expectations for a market rebound in 2024, with Sustainable Fitch predicting muted issuance if interest rates remain elevated.

The article discusses the activity in the junk bond market, highlighting that issuers like Spirit Aerosystems are expected to be active. Spirit Aerosystems is planning to refinance $1.2 billion in notes due in 2025. Additionally, Nova Chemicals is set to price $400 million of five-year notes. The article notes that over $5 billion in new bonds have been sold this week by seven junk issuers, indicating a strong investor appetite for fresh debt. It also mentions that two offerings have commitments due in the US leveraged loan market, specifically pointing out EG Group’s cross-border deal and Archkey’s $100 million loan.

Money managers at Invesco Ltd. and Loop Capital Asset Management are showing confidence in regional-bank bonds, anticipating that these bonds will outperform the broader market as concerns about funding costs diminish. Invesco has been actively purchasing regional-bank bonds in the latter half of the year, attracted by what they see as very appealing new issues, according to Matt Brill, the head of North America investment-grade credit at Invesco. Meanwhile, Loop Capital is searching the secondary market for deals, with Scott Kimball expressing optimism that most lenders will survive provided that benchmark rates stabilize and economic growth persists.

Green bonds experienced their busiest February on record with global sales totaling $54.7 billion. The primary debt market in 2024 has seen strong investor demand, with the US investment-grade bond market potentially having its busiest quarter ever. Verizon Communications Inc. raised $1 billion, Canada debuted a C$4 billion green bond issue, and Raizen SA plans more green bonds after a $1.5 billion raise. Sustainable bond sales for February neared the record set in February 2023, with Citigroup Inc. predicting record sustainable bond issuance for the year.

The article discusses the performance of blue-chip bond funds, particularly those managed by Vanguard Group Inc. and Pacific Investment Management Co. (PIMCO), which have seen significant gains by investing in energy companies and banks. The funds' managers are optimistic about the future, expecting fuel producers and exporters to benefit from a potential easing of Federal Reserve policies. They see opportunities in liquefied natural gas and believe that oil prices will remain stable enough to generate cash flow for bondholders. The Vanguard Long-Term Investment-Grade Fund and the PIMCO Investment Grade Credit Bond Fund are highlighted for their strong returns in the past year. The article also includes insights from other fund managers who share their strategies and outlook for 2024, with a focus on the energy sector, financial sector, and municipal bonds.

In 2023, the global sales of sustainability-linked bonds (SLBs) saw a significant decline of 22%, marking the largest drop since their inception in 2019 by Enel SpA. The decrease to $67.8 billion is attributed to investor skepticism over the efficacy and integrity of the SLBs, with concerns about weak targets and the risk of greenwashing. Sustainable Fitch and BloombergNEF reports indicate that a substantial proportion of issuers are likely to miss their environmental, social, or governance targets. Despite this, the green bond market remains strong, with $528.4 billion in sales in 2023 and BNP Paribas predicting an increase to $600 billion in 2024. The article also touches on the heightened scrutiny from regulators and industry bodies regarding the potential for greenwashing in SLBs.

Gershon Distenfeld, co-head of fixed income at AllianceBernstein Holding LP, has expressed optimism about the performance of junk bonds, citing healthy returns in the past two months and the potential for more as the Federal Reserve normalizes interest rates. He believes that a shallow recession in the U.S. will place corporate credit in a favorable position, particularly high-yield bonds. The debt market is experiencing significant gains, with the riskiest junk bonds outperforming other asset classes. Distenfeld compares the current attractiveness of junk bonds to private credit and anticipates mid single-digit returns in fixed income for 2024. Steve Dulake of JPMorgan Chase shares similar sentiments. Distenfeld also advises U.S. investors to hedge currency risk when investing outside the U.S.

Moody's Investors Service has reported that the debt exposed to high environmental risks has surged to over $4 trillion, a significant increase from less than a decade ago. The report identifies 16 sectors with high or very high environmental credit risk, up from nine in 2015. Key sectors affected include oil and gas, mining, and chemicals, which are vulnerable to climate change, pollution, and other environmental challenges. The report highlights the potential credit impact of these environmental pressures on sectors that collectively hold $82 trillion of debt. It also notes that while banks have a low credit risk from environmental factors, they are under increasing pressure to meet carbon transition targets. This analysis is particularly relevant as the COP28 climate change conference in Dubai approaches, where global warming and its effects will be a central topic of discussion.

Wall Street is increasingly engaging women and minority-owned investment banks for major bond transactions, a shift driven by companies like Verizon Communications Inc. and Amazon.com Inc. These companies are pressuring their regular banking partners to collaborate with diverse firms, leading to a record number of transactions involving such entities. In 2022, 62% of blue-chip bond transactions in the U.S. involved at least one underwriter founded or led by women and people of color, a significant increase from 24% a decade earlier. The trend continues in 2023, with diverse underwriters participating in nearly 60% of the year's transactions. This movement is part of a broader corporate commitment to diversity, equity, and inclusion, which gained momentum after the murder of George Floyd in 2020. Despite the progress, diverse firms rarely manage large operations alone and often play passive roles next to larger banks, indicating there is still a long way to go in achieving true diversity in the financial sector.

Blue Owl Capital Corp. II and FS KKR Capital Corp. have issued investment-grade bonds in the US market, raising $350 million and $400 million respectively. Oaktree Specialty Lending Corp. also priced a $300 million deal. These business development companies (BDCs) are seeking to increase liquidity ahead of potential market challenges in 2024, including the end of zero-rate environment loans. The article discusses the strategy of BDCs in managing their loan portfolios and the broader context of the investment-grade bond market, where demand is high but investors are advised to be cautious about new issue premiums. The piece includes insights from Bloomberg Intelligence analyst David Havens and Loop Capital Asset Management's Scott Kimball.

US banking regulators, including the Federal Deposit Insurance Corp. and the Federal Reserve, have proposed increasing the minimum denomination of long-term bonds for midsize lenders from $2,000 to $400,000. This move aims to ensure that such debt is held by institutional investors rather than individual investors, to better manage potential losses in times of bank stress. However, the Credit Roundtable, a trade group for investment managers, has criticized the proposal, arguing that it would disadvantage smaller investors and mutual funds, lead to increased costs for regional banks, and potentially distort the market. The group also questions the inconsistency of allowing smaller denominations for other types of securities. The proposal is part of a broader effort to increase oversight of midsize banks following recent industry turmoil.

DoubleLine Capital, overseeing more than $90 billion, is heavily investing in high-quality corporate bonds, attracted by the highest yields since the global financial crisis. Robert Cohen, head of global developed credit at DoubleLine, believes this is an opportune time for corporate credit investment. The firm has shifted from an underweight to an overweight position in investment-grade corporate bonds, citing improved credit quality, reduced interest-rate risk, and attractive yields. Despite potential economic weakness, Cohen is optimistic about positive returns and recommends the four- to 10-years maturity range. DoubleLine is focusing on debt from systemic banks, pharmaceuticals, and tech companies, while avoiding regional banks and over-leveraged companies. Cohen also sees speculative-grade bonds outperforming equities and suggests reallocating some stock exposure to junk bonds.

SQM, the world's second-largest lithium supplier, has entered the US investment-grade bond market by selling $750 million in green bonds with a 10-year maturity. The bonds were sold at a yield of approximately 190 basis points above comparable Treasuries. This move is part of SQM's efforts to meet the increasing demand for lithium, which is essential for rechargeable batteries in electric vehicles. The proceeds from the green bonds will be used for projects such as lithium extraction and processing. The sale comes as SQM is negotiating a new contract in Chile that requires more sustainable practices and is expanding its operations in Australia with a $1 billion offer to acquire Azure Minerals Ltd. The bond sale was managed by Bank of America Corp., JPMorgan Chase & Co., and Banco Santander SA.

U.S. companies are taking advantage of one of the last chances to raise capital in the bond market before the year ends, amidst a challenging financial environment with higher interest rates. On Monday, companies raised $22.5 billion, surpassing the week's forecast. October saw $81.75 billion in sales, slightly below the $85 billion expected. The Federal Reserve's decision to maintain high interest rates indicates that the era of cheap money is over. Upcoming events and the holiday season limit the opportunities for debt sales. Investment-grade bond yields have risen to levels not seen since before the financial crisis, suggesting a return to the 'old normal.' Wall Street banks predict a busy November for bond issuance, with estimates ranging from $80 billion to $100 billion. Despite geopolitical tensions and inflation concerns, the pace of issuance is expected to pick up after a slower October.

Vanguard Group Inc., the world's second-largest asset manager, advises investors to embrace higher interest rates and invest in corporate bonds, despite a recent rout in fixed income markets. The firm, managing $7.8 trillion globally, anticipates a shallow recession in mid-2024 and sees minimal potential for high-grade spreads to tighten. Vanguard's fixed-income team, led by Sara Devereux, suggests that with the Federal Reserve nearing the end of its rate hikes, now is a good time for investors to secure higher yields for longer periods. They find high-quality investment-grade corporate bonds particularly attractive, as many companies have fortified their balance sheets. However, the market has experienced significant losses, with investment-grade bonds suffering due to their sensitivity to interest rate hikes. Vanguard remains neutral on high yield bonds but sees opportunities in mortgage-backed securities and certain municipal bonds.

JPMorgan Chase & Co. has issued green bonds for the first time in over two years, raising $7.25 billion in a three-part offering. The sale includes a $2 billion green bond with a four-year maturity, which is callable after three years. The proceeds from the green bonds will fund eligible green projects as outlined in the bank's sustainable bond framework. Despite this move, overall U.S. corporate sales of ESG-linked bonds have decreased this year due to diminishing price benefits and political pushback. Goldman Sachs Group Inc. forecasts a significant drop in ESG corporate investment-grade issuance in the US dollar market compared to previous years. JPMorgan's action comes amidst a record-setting pace of global green bond sales, totaling $422.97 billion in the first three quarters of the year.

Following their third-quarter earnings reports, Wells Fargo and JPMorgan Chase led Wall Street's major banks in borrowing from the U.S. investment-grade bond market. Wells Fargo issued $6 billion in bonds, while JPMorgan priced an offering of $7.25 billion. Despite higher borrowing costs, the banks' actions may be driven by regulatory requirements to meet total loss-absorbing capacity rules. Analysts suggest that the banks' strong interest income results and raised earnings outlooks could lead to more bond issuances in the future. U.S. companies have raised significantly less capital this month than projected, but issuance is expected to pick up as more banks report earnings.

Wells Fargo & Co. and JPMorgan Chase & Co. have accessed the US investment-grade market to issue bonds after their third-quarter earnings reports. Despite high borrowing costs, they issued bonds to meet regulatory requirements for total loss-absorbing capacity (TLAC). Wells Fargo issued $6 billion of bonds, while JPMorgan issued $7.25 billion. The move suggests banks anticipate higher future borrowing costs. Both banks reported strong net interest income and raised their outlook guidance. The article also discusses the broader context of the financial sector's bond market, including the average yields on US high-grade company notes and the potential for more issuance as other banks report earnings.

JPMorgan Chase & Co. has issued green bonds for the first time since August 2021, raising $7.25 billion in a three-part offering. The sale includes a $2 billion green bond aimed at funding eligible green projects as outlined in the bank's sustainable bond framework. This move comes as global green bond sales hit a record high, with $422.97 billion sold in the first three quarters of the year. Despite this, US corporate ESG bond sales have slowed, with Goldman Sachs Group Inc. predicting a significant decrease in US ESG corporate investment-grade issuance compared to previous years. The slowdown is attributed to diminishing price benefits and political pushback against ESG-focused investing strategies.

JPMorgan Chase is issuing green bonds for the first time since August 2021, aiming to fund eligible green projects such as electric vehicles and sustainable transportation. This move comes as global sales of green bonds hit a record pace, with $422.97 billion sold in the first three quarters of the current year. Despite this growth, U.S. corporate sales of ESG-linked bonds have slowed, partly due to reduced price benefits and political pushback. Goldman Sachs predicts a significant decrease in ESG corporate investment-grade issuance in the U.S. dollar market for the year. JPMorgan's recent financial performance has been strong, with a record net interest income and an increased forecast for the year.

Wells Fargo & Co. and JPMorgan Chase & Co. are actively participating in the US investment-grade market by issuing bonds after their third-quarter earnings reports. Despite high borrowing costs, they are driven by the need to meet total loss-absorbing capacity (TLAC) requirements. Wells Fargo is issuing $6 billion of bonds, and JPMorgan is offering $7.25 billion in bonds. Analysts suggest that banks are borrowing in anticipation of future higher costs and regulatory needs. The recent earnings reports have been positive, potentially leading to more bond issuance. US companies have raised less capital than expected this month, but issuance may increase as more banks report earnings. Financial sector bonds have been performing well due to a lack of supply and are considered a safe haven by investors.

Investors are showing increased interest in purchasing long-term bonds, anticipating that the Federal Reserve may be close to ending its rate hikes. Despite a potential continuation of rate hikes, the high yields on long-term debt are seen as compensatory. Barclays Plc strategists highlight the attractiveness of 25-year-plus investment-grade debt. Companies like T-Mobile US Inc., Nevada Power Co., and Sartorius AG have seen strong demand for their long-duration offerings. The article also discusses the technical factors influencing the bond market, including the scarcity of long-duration offerings and the relative performance of different bond maturities. Experts from Voya Investment Management, Vanguard Group Inc., and Schroder Investment Management provide insights into the current market dynamics and the appeal of longer-dated bonds. Barclays suggests that longer-dated bonds are a good bet and recommends certain companies for investment. However, CreditSights Inc. analysts express caution regarding the eagerness of companies to issue long-term debt.

Goldman Sachs Group Inc. and Bank of New York Mellon Corp. are issuing a combined $6 billion in investment-grade bonds, with Goldman selling $4 billion and BNY Mellon $2 billion. This follows a quarter where Goldman faced real estate writedowns and a dealmaking slump, while BNY Mellon saw a 5% drop in total deposits. Despite higher borrowing costs, big banks like JPMorgan Chase & Co. and Wells Fargo & Co. have also been active in the bond market, suggesting they anticipate higher future borrowing costs. Financial analysts from UBS Group AG and JPMorgan expect substantial post-earnings bond issuance from big banks, citing the current favorable lending margins due to high effective household borrowing rates.

Goldman Sachs Group Inc. and Bank of New York Mellon Corp. have sold a total of $6 billion in investment-grade bonds, with Goldman issuing $4 billion and BNY Mellon $2 billion. The sales come after both banks reported their quarterly earnings, with Goldman Sachs experiencing real estate writedowns and a slump in dealmaking, while BNY Mellon saw a drop in total deposits. Despite higher borrowing costs, big banks like JPMorgan Chase & Co. and Wells Fargo & Co. have also been active in the bond market, suggesting they anticipate higher future borrowing costs. Financial analysts from UBS Group AG and JPMorgan expect a significant amount of new deals from big banks post-earnings. The article also notes that household borrowing rates are at a 20-year high, which is beneficial for lenders from a margin perspective.

JPMorgan Chase & Co. has issued green bonds for the first time in over two years, raising $7.25 billion in a three-part offering. The offering includes a $2 billion green bond with a four-year maturity, which is callable after three years. The proceeds from the green bonds will fund eligible green projects as outlined in the bank's sustainable bond framework. This sale comes as global green bond sales hit a record pace, with $422.97 billion sold in the first three quarters of the year. However, U.S. corporate ESG bond sales have slowed due to diminishing price benefits and political pushback. Goldman Sachs Group Inc. forecasts a significant decrease in ESG corporate investment-grade issuance in the U.S. dollar market for the year.

The article discusses the findings of a special investigation team regarding the safety of students in Kenyan schools. The team reviewed the implementation of the Safety Standards Manual for Schools, which was released in 2008 to enhance school safety. Despite the manual's directives, schools have failed to adopt necessary safety measures, leading to continued incidents of accidents, violence, and even terrorism, with the Garissa University College attack in 2015 being the most severe. The article outlines key safety measures from the manual, such as establishing a School Safety Committee, managing school grounds, maintaining clean and safe facilities, and ensuring health and food safety. The investigation found many schools with poor conditions, including filthy dormitories and overcrowded spaces. The report also highlighted issues with drug abuse, with some staff allegedly involved in peddling. The article underscores the importance of a safe learning environment for effective education and student well-being.

Ford Motor Co. recently received an upgrade to investment grade by S&P Global Ratings, resulting in $46.8 billion of its debt being removed from junk bond indexes. This event contributed to the largest shrinkage of a global junk debt benchmark since 2005. The upgrade is seen as a sign of companies strengthening their finances in anticipation of a potential recession. The article discusses the broader trend of credit upgrades and the reduction of fallen-angel bonds, with strategists from Bank of America and Barclays Plc providing insights into the future of credit ratings. Barclays strategists predict more debt will be upgraded from junk to investment grade in 2024, with companies like Coty Inc., Cellnex Telecom SA, and Marks & Spencer Plc poised for potential upgrades. The article also touches on the benefits of rising star upgrades, such as lower borrowing costs and access to larger capital pools, and notes that other companies like Occidental Petroleum Corp. and Kraft Heinz Co. have also recently improved their credit status.

Gershon Distenfeld of AllianceBernstein predicts a shallow recession in the US, which he believes places high-yield bonds in a favorable position. He suggests that these bonds may outperform equities, citing the significant gains in the junk bond market, particularly the CCC tier. The global debt market is experiencing a record gain, with expectations of interest rate cuts by central banks. Distenfeld, along with Steve Dulake from JPMorgan, anticipates mid single-digit returns for fixed income in 2024 and finds European valuations more attractive, though he advises US investors to hedge against currency risk.

Money managers at Invesco Ltd. and Loop Capital Asset Management are optimistic about regional-bank bonds, seeing potential for better performance compared to the broader market as concerns about funding costs ease. Invesco has been actively purchasing new issues, while Loop Capital is searching for deals in the secondary market. Despite earlier regional bank failures and the impact of rising interest rates on commercial real estate, deposit levels are stabilizing, and there's hope the Federal Reserve may cut rates next year. However, Federal Reserve Chair Jerome Powell recently indicated rate cuts are not imminent. While some investors like Invesco and Schroder Investment Management find the sector's debt attractive, others like T. Rowe Price Group Inc. and DoubleLine Capital are cautious or avoiding the sector due to potential headwinds and exposure to commercial real estate. Moody's has downgraded several lenders and anticipates more challenges ahead, but also notes that banks are preparing for these challenges.

In November, the issuance of green bonds, which are used to fund environmentally friendly projects, reached $57 billion, marking the second-highest month of the year and the second-busiest November since the green debt market began in 2007. Industrial & Commercial Bank of China Ltd. and French utility Electricite de France SA were among the notable issuers, with the latter pricing the first green bond in Europe for nuclear energy projects. The total ESG bond issuance, including green, social, and sustainability-linked bonds, increased to $82.6 billion in November. However, Barclays Plc predicts that the total global ESG issuance for the year will be slightly lower than in 2022, with an expected $825 billion in 2024. The forecast indicates a continued dominance of green bonds but also an increase in sustainability-linked bond supply.

The article discusses the increasing involvement of women- and minority-owned investment banks in major bond deals, highlighting a shift towards diversity in the finance sector. Wells Fargo & Co. received top billing on a $1 billion bond deal, with Verizon Communications Inc. issuing the bonds and emphasizing their commitment to diversity by partnering with diverse firms. The article notes that a record number of deals in 2022 involved firms led by underrepresented groups, a trend that continues in 2023. Companies like Allstate Corp. and Amazon.com Inc. are choosing banks like Morgan Stanley and Loop Capital for their commitment to working with diverse firms. Despite the progress, the article suggests that diverse firms still face challenges in the industry, with a small percentage acting as lead advisors on big deals. The article concludes with a call for more significant progress in diversity within Wall Street.

The article discusses the challenges facing the global sustainable debt market, which may not surpass its previous peak for a third year due to increased labeling costs, higher interest rates, and more intense ESG scrutiny. ESG bond sales have dropped, particularly in North America. Experts from Sustainable Fitch, Bloomberg Intelligence, Barclays Plc, and BNP Paribas provide their outlooks, with general expectations of muted issuance if rates stay high. The article highlights the difficulties of issuing ESG-labeled bonds, including additional costs and market volatility. In Europe, ESG bonds are more integrated into the market, but growth is limited. The US faces political backlash affecting ESG bonds. Green bonds continue to lead the market, with projections for future growth. There is also an expectation for increased interest in blue, orange, and transition bonds, but these will remain niche compared to traditional sustainable bonds. The article concludes with comments on the need for more funding in impactful projects, especially in emerging markets.

The article discusses the challenges facing the global sustainable debt market, which may not surpass its previous peak for a third consecutive year. Factors such as additional labeling costs, higher interest rates, and increased ESG scrutiny have led to a decline in ESG bond sales, particularly in North America. While analysts from Sustainable Fitch, Bloomberg Intelligence, and Barclays Plc predict a subdued market, BNP Paribas forecasts flat green bond issuance if borrowing costs remain high. The article also notes the dominance of green bonds in the market and the potential growth in other types of sustainable bonds. Despite the challenges, some experts like Gregor Vulturius from SEB AB anticipate a marginal increase in sustainable debt transactions in 2024.

JPMorgan Chase & Co. analysts, led by Steve Dulake, predict high single-digit returns for US corporate bonds in the next year, with 8% for investment grade bonds and 9% for high yield bonds. This optimism is based on lower bond yields and controlled default rates. The bank's analysts expect the US to avoid a recession, with inflation returning to the Federal Reserve's 2% target. JPMorgan has adjusted its expectations for the Federal Reserve's rate cuts to occur every six weeks. The bank also forecasts that high grade net issuance will be similar or lower than this year and anticipates a default rate of below 3% for junk bonds and 3.25% for loans. Dulake expressed concern about potential volatility in the rates market due to US Treasury securities sales.

UNESCO has released a policy paper indicating a concerning trend in global aid for education, which has been declining for six consecutive years. The total aid for education is now 4 percent lower than it was in 2010, standing at US$12 billion. Although there was a slight increase in aid to basic education from 2014 to 2015, the funding is still below the levels from 2010. In contrast, aid to health and population sectors, as well as the transport sector, has seen increases. This decline in educational aid is particularly challenging for low and lower-middle-income countries, such as Kenya, which rely on such aid to provide quality education. UNESCO's Director-General, Irina Bokova, emphasized that the current level of aid is insufficient to meet Sustainable Development Goal 4, which aims to ensure inclusive and quality education for all.

The article discusses Foot Locker Inc.'s strategies to stay afloat amidst the 'Retail Apocalypse' where many brick-and-mortar stores are struggling due to the rise of online shopping, particularly from giants like Amazon. It highlights the experiences of customers who prefer in-store shopping for the ability to try products and the personal service. Foot Locker is focusing on enhancing its e-commerce presence and maintaining exclusive in-store products to retain its premium customer base. The company has seen a decline in same-store sales and net income, prompting a strategic shift that includes store closures and openings. Despite the challenges, experts like Prof. Mark Cohen from Columbia Business School believe that Foot Locker's unique offerings and customer demographics will help it survive in an increasingly digital marketplace.

The article by Caleb Mutua focuses on the story of Manuel Diaz, a 57-year-old former drug dealer and heroin addict from Puerto Rico, who is on the path to recovery through a methadone program in East Harlem. Diaz's history includes a prison sentence for murder and a struggle with addiction both inside and outside of prison. The article discusses the broader opioid crisis, with a particular focus on its impact on Latino communities in New York, and the public health response to the epidemic, including the New York City initiative HealingNYC. The initiative aims to reduce drug overdose deaths by 35 percent over five years and involves public awareness campaigns and access to mental health services. The article also touches on the perspectives of Hollywood actor Roland Sands and Dr. Silvia Martins, a Substance Abuse epidemiologist, on the causes of drug abuse and the importance of proper prescription practices.

On the morning of September 22, 2017, a 46-year-old man named Ramone Colon was stabbed to death by a deli cashier, Ahmed Hafeed, after a confrontation at A&S Candy Grocery in New York. Colon, accused of shoplifting, was stabbed following an argument and a physical altercation with Hafeed. After being stabbed, Colon sought help at a nearby Dunkin Donuts and was later pronounced dead at Harlem Hospital. Hafeed has been charged with second-degree murder and manslaughter, facing up to life imprisonment if convicted. Witnesses provided varying accounts of the incident, with some claiming Colon also had a knife. The NYPD is still investigating the claims.

The article by Caleb Mutua discusses the thriving culture of drag and its increasing presence online. It highlights the story of BeBe Zahara Benet, a drag queen who gained fame after winning the first season of RuPaul's Drag Race and is now using social media platforms like Instagram to connect with fans. The article also mentions the success of the 2017 RuPaul’s DragCon in NYC, which sold out and attracted a large audience. The piece touches on the history of drag culture, its resurgence in mainstream media, and the personal perspectives of drag artists who prefer to be recognized as performers rather than being stereotyped by their drag persona. The article includes insights from other individuals involved in the drag scene, such as Linda Simpson, a blogger and drag queen, and Richard Renaldi, a portrait photographer.

The article discusses the impact of gentrification on African restaurants in Harlem's Little Senegal. As affluent residents move in, long-standing businesses face displacement. African Kine, a West African restaurant, was forced to relocate due to a rent hike and the arrival of 7-Eleven. Despite the challenges, African Kine and other restaurants like La Savane and Pikine remain committed to their traditional cuisines to attract both American and West African customers. They have also adapted by renovating their spaces and utilizing online platforms for orders and reservations. The Association of the Senegalese in America expresses concern over the rapid changes and the potential loss of cultural identity in the area.

The article discusses how two historic New York family-run restaurants, Faicco's and Nom Wah Tea Parlor, have endured through economic challenges and changing consumer tastes. Faicco's, an Italian butcher shop in the West Village, was established in 1900 by Edward Faicco from Italy and is now managed by his descendant, Eddie Faicco. Despite his children pursuing different careers, Eddie continues to run the shop with the help of his young son. Nom Wah Tea Parlor, founded in 1920, is the oldest dim sum restaurant in the city and has been under the stewardship of Wally Tang since 1974, who began his journey there as a dishwasher. Both establishments reflect the rich heritage and adaptability required to survive in New York's competitive culinary scene.