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【出版时间及名称】：穆迪-Weekly Credit Outlook-100802
【作者】：穆迪
【文件格式】：pdf
【页数】：64
【目录或简介】：
NEWS & ANALYSIS
Corporates 2
»Yahoo! Japan says konnichiwa to Google and sayonara to Microsoft page 2.
»Canon and Lexmark printers paint a nice picture for HP page 3.
»Shareholder revolt forces Charles River to retreat from WuXi purchase in China page 4.
»Ball Corp. expands into higher-margin business with Neuman deal page 5.
»Despite severe recession, companies in default recovering at pace near historic norm page 5.
»Piaggio scoots into China on three wheels, a credit-positive direction page 6.
»Telemar keeps Portugal Telecom connected in Brazil with credit-enhancing alliance page 7.
»Telefónica’s Vivo deal is credit neutral for it, but credit positive for Portugal Telecom page 8.
»BP’s decisive steps and strong operating performance are helpful, though uncertainties remain page 9.
»Panasonic strengthens its energy business, but not without financial pressure page 10.
Banks 11
» Mexico’s new restrictions on bank fees limit revenue in an already depressed earnings environment page 11.
»Chinese regulators reportedly find spate of risky bank loans to local governments page 13.
Insurers & Funds 14
» Children health insurance rules portend similar treatment for broad market page 14.
»Life insurers under investigation in New York for retaining policy proceeds page 15.
»IASB proposes fundamental changes to insurance accounting page 16.
»SunTrust’s sale of money fund assets to Federated reflects credit negative industry consolidation page 17.
Public Finance 20
»Governor Schwarzenegger declares financial state of emergency in California, increasing pressure to resolve delayed budget page 20.
Securitization 21
»Million-dollar-plus mortgages perform in line with smaller loans page 21.
»New US covered bond bill is positive but falls short on addressing market value risk page 22.
CREDIT IN DEPTH
Global Banking 24
»Basel III Watered Down, but Still Positive for Creditors.
INSIDE THE RATING AGENCY
Rating Changes 28
Last week we upgraded Newmont USA, Virgin Media, and India; downgraded Hera, NGPL PipeCo, and US and Japanese CMBS; among other rating actions.
Research Highlights 36
Lower bond yields support unsteady economy; near-term is suspect, but long term is favorable..
INSIDE MOODY’S ANALYTICS
US Credit Market Review and Outlook 41
Lower bond yields support unsteady economy; near-term is suspect, but long term is favorable..
Global Market Data 47
Credit spreads, CDS movers, and issuance statistics
Global Financial Outloooks 52
» US: July’s Bond Offerings Top Average Monthly Pace of Q2-10 by 32%.
»Asia-Pacific: Contrasting growth prospects in South Korea, Japan, and Singapore.
The Week’s Economic Releases 55
» US: ISM manufacturing and construction spending Monday.
»Europe: German retail sales, UK house prices, and euro zone industrial producer prices Tuesday.
»Asia-Pacific: Australia retail sales and monetary policy and Malaysia foreign trade Tuesday.
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