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29 марта, 15:30

ОБЛИГАЦИИ: Aviva вернулась в риск на ослаблении торговых трений

(Bloomberg) -- Несколько недель назад Aviva Plc сокращала рисковые позиции в фондах облигаций развивающихся стран из-за угрозы глобальной войны пошлин. Теперь компания вкладывается в одни из самых спекулятивных активов мира: облигации пограничных рынков.Настроения изменились на фоне признаков ослабления торговых трений между США и Китаем:

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28 марта, 09:50

FCA examines Aviva preference share plan

Regulator looks into whether aborted cancellation attempt broke market abuse rules

25 марта, 23:40

From Luann De Lesseps to Teresa Giudice, These Are the Wildest ‘Real Housewives’ Moments Ever

Think you've seen every wild 'Real Housewives' moment? These are the wildest of them all.

23 марта, 21:45

"Baked In The Cake" - Why LIBOR's Blowout Has Already Done Its Damage

The global funding market crisis is getting worse and its contagion is starting to show up in assets that 'mom and pop' care about. Bank stocks are being battered... Following bank credit risk's spike... And European High Yield risk has exploded to one-year highs... European stress is worse than US for now, as Charlie Diebel, head of rates at Aviva Investors, notes: "The longer it [LIBOR-OIS increase] goes on, the more pronounced the effects are going to be... It complicates the efforts of policymakers because in Europe we still have QE (quantitative easing), but we have some sort of tightening coming at the same time." And Investment Grade credit risk is soaring to six-month wides in EU and US... Simply put, LIBOR doesn't need to blow out any more for the pain to emerge... As one veteran credit-trader exclaimed: the bank credit pain "is baked in the cake" as the lagged reaction to short-term funding needs (and soaring costs) creeps into those so-called fortress balance sheets.

23 марта, 21:21

Trump signs omnibus bill after morning veto threat

Situations like today's omnibus scramble present reporters and the public with a dilemma: how should we treat information coming out of the White House?

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23 марта, 19:48

Investors welcome Aviva climbdown on preference shares

Insurer cancels controversial move to redeem high-yielding shares

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23 марта, 17:03

Funds ask Aviva to make clear preference shares are irredeemable

LONDON (Reuters) - Six large institutional investors said on Friday that Aviva's decision to drop plans to cancel its preference shares addressed most of their concerns, but added issuers of...

23 марта, 13:26

Blain: "Its’ What The Chinese Haven’t Done That’s Interesting"

Submitted by Bill Blain of Mint Partners The theme this Friday morning is brinksmanship and stupidity. The headlines sound awful – “Trade War! Bring It On says Beijing”. Trade war? Ouch, stock markets don’t like it. Trump has used his big trade stick to enact $50 bln of sanctions on China imports. The rhetoric in China went straight up to 11! Fury in the papers and from the official organs of state. BUT! The Chinese responded with a mere $3 bln of tariffs against US imports. Its’ a measured response – acknowledging there is power in Trump’s charges and ability to damage China. Its’ what the Chinese haven’t done that’s interesting. When they cancel Boeing orders, and put the pressure on US Soya Exports – that’s when yesterday’s 3% stock market wobble becomes some more centrifugal… Stocks gapped down through long-term moving averages y’day – in thin holiday markets, ahead of quarter-end, I suspect next week is going to be torrid! It's elsewhere things get really silly. Like more debunkings from Trump’s Casablanca as he sacked his National Security Advisor – a general he disagreed with, for a civilian who shares his enthusiasm for big-stick diplomacy. Elsewhere, we’re wondering if Facebook looks terminally punctured. And, then there is UK financial Aviva making a complete *rs* of itself. Why? Aviva has been a major story in sterling markets the past few weeks. Aviva decided to redeem its outstanding Preference Shares (a traditional form of non-voting debt-like equity) at par on the basis they will no longer count as capital from 2026. Problem was the Prefs were trading around 175! Meaning investors were going to be absolutely gutted – and Aviva justified it as good for shareholders! There is nothing in the documentation to say such a redemption was ever envisaged or permitted – investors had no reason to expect the bonds would be redeemed at par against their interest. Yet, an obscure precedent involving Lloyds redeeming bonds early gave a fug of dubious legality to the process. There was an immediate hue and cry. Fury from investors. (Disclosure: I decided not to say anything as I’ve got some in my own pension pot.) Then, after weeks of pressure, last night the CEO announced they were cancelling the buyback, and “preference shareholders can rest secure in their holdings”. Really? What ******* planet is he living on??? That does not help the thousands of retail holders who saw the value of their holdings plummet. One of my traders has been watching the price and the tick by tick action – as 25K, 50K and 100K tickets traded down as low 110%. Each of these tickets represented some panicked pensioner’s savings, their pension nest egg, being sold because of the fear the initial announcement engendered. This morning the Aviva’s are trading back up to 164%! And, holders have been selling other names prefs, fearing other issuers would be equally dismissive of their pref investors.   Funnily enough… just over a week ago, Aviva CEO Mark Wilson accepted a non-exec position on the Blackrock board. Guess what? Blackrock has been one of the major firms campaigning against Aviva making the pref call! Aviva may think they’ve done the right thing cancelling the redemption. The reality? Retail investors have been fleeced. I strongly suggest Parliament considers hauling Wilson in and suggesting he and his board personally recompense any and every investor that lost money for their stupidity and abuse of markets. I’ve been advised by one of lawyer chums there is a very strong case for investors to haul Aviva in front of the courts.

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23 марта, 10:37

‘Aviva has listened’: Insurer bins plan to cancel preference shares

‘I hope our decision today goes some way to restoring . . . trust’, says CEO

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21 марта, 22:18

UK should get behind EU's radical tax plan for tech firms

The proposed local revenue tax, intended to operate until an international solution can be agreed, deserves supportRadical stuff from the European commission: it is proposing a tax on the revenues of large digital companies operating in the EU, to be levied at 3%. The idea breaches the basic principle that corporate taxes should be charged on profits, not turnover, and thus will cause conflict with the US and probably a few EU countries too. But Brussels deserves support.No measure to date has halted the massive under-taxation of global technology firms. A crude local revenue tax, intended to operate until an international solution can be agreed, is better than the current state of affairs. Continue reading...

19 марта, 15:52

"Медвежья" фаза на рынке бондов откладывается

Биллу Гроссу, Рэю Далио и Полу Тюдору Джонсу, возможно, придется подождать наступления "медвежьей" фазы на рынке облигаций, которую они прогнозировали, пишет Bloomberg.

19 марта, 15:52

"Медвежья" фаза на рынке бондов откладывается

Биллу Гроссу, Рэю Далио и Полу Тюдору Джонсу, возможно, придется подождать наступления "медвежьей" фазы на рынке облигаций, которую они прогнозировали, пишет Bloomberg.

16 марта, 17:41

Ireland’s Jacob Stockdale in rush to make mark in Ireland record books | Andy Bull

The 21-year-old wing has scored 10 tries in his first eight Tests and one more against England will break Six Nations recordJacob Stockdale remembers well the first time he saw Ireland play live but then it was not so long ago. His father took him to watch a World Cup warmup against England at the Aviva Stadium in August 2011. Ireland were torn apart by Manu Tuilagi and lost 20-9. A lot of the men Stockdale is sharing a dressing room with now played in that match: Rory Best, Johnny Sexton, Conor Murray, Keith Earls and Cian Healy. Stockdale is so young his formative memories are his team-mates’ yesterdays. The 21-year-old is embarrassed to admit it but his heroes when he was a kid were a couple of guys he is playing with at Ulster: Andrew Trimble and Tommy Bowe.Stockdale has been making a lot of headlines lately. He is on a hot streak and has scored 10 tries in his first eight Tests for Ireland. He made his debut in the summer of 2017 and scored his first try 14 minutes into his first match, against the USA, a fine finish from 20 metres. He got another against South Africa on his home debut in the autumn (“That Stockdale,” said Jean de Villiers, “you’ve got yourselves a player there”) and two more against Argentina in the match after that. In this Six Nations he has scored two against Italy, two against Wales and two against Scotland. Continue reading...

09 марта, 16:16

Ireland prepare for Scotland and chance to secure the Six Nations a week early

Joe Schmidt’s leading men face a tough task at the Aviva Stadium on Saturday, when the ebullient Scots are in town and with title-winning ambitions of their ownIt could be over by Saturday evening. Ireland, indeed, could all but slam the door on anyone else’s chances of the title by mid-afternoon. If they beat Scotland with a bonus point, England will have to win with a bonus point in rain-lashed Paris just to retain a mathematical interest. For context, rain-lashed Paris is where Ireland themselves could only squeeze home tryless in round one, courtesy of one of the more remarkable drop goals in championship history.Since then, they have built steadily, unveiling something new with each round, so that they now stand on the edge of supremacy. Their two most formidable challenges await, but if Ireland deal with the first with sufficient authority, only the small matter of a third grand slam in their history will trouble them come the final round. Continue reading...

08 марта, 19:13

Garry Ringrose the centre of attention as Ireland name side to face Scotland

• Leinster centre has only played six games this season• Tadhg Furlong is also back with Iain Henderson on the benchGarry Ringrose will become the third player to wear Ireland’s No 13 shirt in this season’s Six Nations after being named for Saturday’s meeting with Scotland at the Aviva Stadium. The 23-year-old has shaken off ankle trouble suffered in January, and his return helps ease the losses of Robbie Henshaw, Chris Farrell and Jared Payne.Henshaw dislocated his right shoulder in the win over Italy last month, and Farrell – who replaced Henshaw for the win over Wales – tore knee ligaments in training. Payne has not played since last year’s Lions tour to New Zealand, having suffered persistent headaches. Continue reading...

04 марта, 00:59

Wales’ Gareth Anscombe seeks strong finish to Six Nations campaign of near misses

• Full-back ‘disappointed’ by narrow losses to England and Ireland• Wales end campaign with home games against Italy and FranceGareth Anscombe believes Wales can finish the Six Nations strongly and that they will have nothing to regret when they look back at their 2018 campaign. He is also well aware how close the Welsh came to being title contenders.Warren Gatland’s side will finish among the also-rans in the Six Nations but they would be on the trail of the grand slam had two moves at Twickenham and the Aviva Stadium worked out differently. Sam Underhill’s tackle prevented Scott Williams from scoring an otherwise certain try to preserve England’s lead in the second round while last weekend Wales were three points behind with time up when they worked space on the right, only for Anscombe’s pass to Hadleigh Parkes to be seized by Jacob Stockdale, who cemented Ireland’s victory. Continue reading...

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28 февраля, 19:01

UK royal ‘Fab Four’ carry out engagement together

US actress Meghan Markle made an official appearance alongside fiance Prince Harry and his elder brother William and wife Kate yesterday, the first time Britain’s royal “Fab Four” have carried out an engagement

24 февраля, 19:47

Premiership roundup: Joe Simmonds keeps his nerve to send Exeter top

• Thomas Waldrom powers over for a last-gasp try for the home side• Northampton had led after tries from Horne, Foden and MallinderJoe Simmonds converted Thomas Waldrom’s last-minute try to cap a dramatic comeback from Exeter, who rallied from 13 points down to edge out Northampton 31-30 at Sandy Park.The Chiefs were staring at a fourth consecutive Aviva Premiership defeat when they trailed 30-17 with 10 minutes remaining but Don Armand and then Waldrom touched down. Continue reading...

24 февраля, 16:15

Ireland 37-27 Wales: Six Nations – as it happened

Ireland remain on course for a Six Nations Grand Slam after a 37-27 win over Wales in Dublin, with Jacob Stockdale’s second try sealing victory late on 4.03pm GMT It’s all over. It’s never dull between these two. A fantastic, thrilling match-up in Dublin, with Ireland on the ropes at the end but Jacob Stockdale sealed the points. “I think Wales are a really good side, they don’t give up and we’ve had some really good battles with them over the last couple of years,” says Conor Murray. Three wins from three sounds pretty good. “That was the aim,” he adds. “We live to fight another day.” Indeed.Thanks for your company, do join me for Scotland v England: Related: Scotland v England: Six Nations – live! 4.02pm GMT Jacob Stockdale starts and finishes proceedings in Dublin, then. He uses his predatory instincts to nip in and intercept the ball before running over for his second of the afternoon. Carbery converts and that’s that. Continue reading...

23 февраля, 13:30

Wales ready for Ireland’s aerial assault in must-win Six Nations match

Kicking coach Neil Jenkins believes battle of the boot will be key for Wales as they seek to avoid a defeat that would all but end their title hopesIreland and Wales meet on Saturday in Dublin to determine the heir apparent to England for the Six Nations crown. Matches between the two have in recent years been brutal even by the overtly physical nature of modern international rugby, but the route to victory has usually been in the sky.Ireland’s kicking game, led by Johnny Sexton – who was nursing a sore back in training on the eve of the match – and Conor Murray, is as resourceful as anyone’s, including New Zealand. When South Africa pitched up at the Aviva Stadium last November with a back three who had not played a Test in Europe, they collapsed under the aerial assault and Wales, who were hit by injuries in that department at Twickenham in the last round, have gone for experience, knowing what to expect. Continue reading...