Canaccord Genuity Issues Fixed Income Trend Report

This report highlights a variety of topics, trends, catalysts and events that Canaccord Genuity’s high yield fixed income strategists believe will impact the fixed income market this week. In particular, specific issues mentioned may exhibit a significant change in trading volume and/or be the focus of the market’s attention during the week.

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New York, NY (PRWEB) April 01, 2014

To get an interview: Please contact any of the Canaccord strategists directly at the numbers and emails provided below, or contact Garrett Allen at garrett.drellc(at)gmail(dot)com or 215-514-9207 for assistance in arranging an interview with any fixed income strategist.

  • The headline everyone is anticipating: TXU to file Chapter 11 bankruptcy.
  • Total debt $40 billion.
  • Will be one of -- or the largest bankruptcy -- in history of America depending on how you classify GM, with or without GMAC Finance arm.
  • Big issue news this week: Bombardier selling $1.8 billion in a two-part offering.
  • Also: Brazilian-based beef/pork processor JBS looking to do a benchmark size deal
  • US dollar funding.
  • They have some US $10 billion in debt outstanding; $500 million loan outstanding maturing this year.
  • They have been aggressive in acquisitions, notably Pilgrim’s Pride.
  • We expect spreads to trend higher after last week’s sell off in high yield market; although they have been trading range bound (within a point and a half) over the past few weeks, that is masking some decidedly high periods of volatility, such as hard opens (down a point, eg).
  • Watershed event: High yield outflows late last week, first time in two months – possibly due to month end selling.
  • Canaccord is positive on Toys R Us news (earnings announced last week).

To get an interview: Please contact any of the Canaccord strategists directly at the numbers and emails provided below, or contact Garrett Allen at garrett.drellc(at)gmail(dot)com or 215-514-9207 for assistance in arranging an interview with any fixed income strategist.

Canaccord Fixed Income Strategists – Sectors & Contact Info
Mark Pibl – Energy, Metals & Mining
212-389-8306
mpibl(at)canaccordgenuity(dot)com

Tom O’Neill – Consumer Products, Retail, Food Products
212-389-8309
toneill(at)canaccordgenuity(dot)com

Robert Goodman – Aerospace/Defense, Aircraft Leasing, Transportation, Shipping, Logistics, Coal
212-389-8307
rgoodman(at)canaccordgenuity(dot)com

Mike Drexler – Telecom, Media, Cable, Satellite
212-389-8308
mdrexler(at)canaccordgenuity(dot)com

About Canaccord Genuity
Canaccord Genuity is the global capital markets division of Canaccord Financial Inc., offering institutional and corporate clients idea-driven investment banking, merger and acquisition, research, sales and trading services from offices in 12 countries worldwide. Our team of nearly 1,000 capital markets and advisory professionals has industry and transactional expertise in 18 key sectors of the global economy. We are committed to providing valued services to our clients throughout the entire lifecycle of their business and operating as a gold standard independent investment bank – expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention. More information is available at: http://www.canaccordgenuity.com


Contact

  • David Evanson
    David R Evanson, LLC
    610-505-0832
    Email