Bond investors are wary about a return of coronavirus-induced volatility, despite central banks' efforts to backstop credit markets. This fear is keeping yields on investment-grade corporate bonds elevated compared with the cost of insuring them against defaults in derivatives markets. That is because the indexes of corporate debt derivatives have proven to be easier to trade than cash bonds since the market meltdown in March.
More than one million customers in New York, New Jersey and Connecticut were without power for a third day since Tropical Storm Isaias battered the region, and some outages could stretch into next week, utility companies said. Consolidated Edison Inc. (ED), which serves customers in New York City and Westchester, said Thursday it probably would take until the end of Sunday to restore power to "the vast majority of customers." Jersey Central Power and Light said it would take until late...
Britain's banks hold enough capital to keep on lending to the country's companies and also to absorb billions in losses likely to arise due to the COVID-19 pandemic, the Bank of England said. Companies could suffer a cash flow deficit of up to 200 billion pounds, and banks could be hit by credit losses of less than 80 billion pounds, the BoE's Financial Policy Committee said on Thursday.
The Bank of England said on Thursday it was keeping its benchmark interest rate at 0.1%. The BoE also left unchanged the size of its bond-buying programme at 745 billion pounds. A Reuters poll of economists had pointed no change in either of the BoE's two main stimulus tools.
* BoE expected to keep Bank Rate at 0.1% * Also expected to leave bond-buying plan unchanged. * BoE to publish new economic forecast. * Bond investors await details of pace of bond purchases. * BoE considering pros and cons of negative rates. By William Schomberg.
Public works and utilities crews began restoring power to millions of households while New York's governor ordered an investigation into the state's utilities, a day after Tropical Storm Isaias downed trees and power lines throughout New York, New Jersey and Connecticut. More than two million households across the region still don't have power, according to estimates provided by utilities in the three states. The storm also at one point knocked out power for more than 200,000...
Public works and utilities crews began restoring power to millions of households while New York's governor ordered an investigation into the state's utilities, a day after Tropical Storm Isaias downed trees and power lines throughout New York, New Jersey and Connecticut. More than two million households across the region still don't have power, according to estimates provided by utilities in the three states. The storm also knocked out power for more than 200,000 customers...
A man was killed by a falling tree branch in New York City and more than a million households in New York, New Jersey and Connecticut were left without power on Tuesday as Tropical Storm Isaias barreled through the region. Isaias unleashed torrential rain and powerful winds, knocking down power lines and trees, and disrupting transit service. The National Weather Service said the storm was expected to deliver up to 5 inches of rain in some parts of the region and possibly lead to...
Tropical Storm Isaias barreled through New York, New Jersey and Connecticut on Tuesday, unleashing torrential rain and leaving over a million residents without power. The National Weather Service said Isaias was expected to deliver up to 5 inches of rain in some parts of the region and possibly lead to flooding. Weather forecasters and state officials also warned of the potential for tornadoes to hit southeast New York, northeast New Jersey and southern Connecticut.
Tropical Storm Isaias barreled through New York, New Jersey and Connecticut on Tuesday, unleashing torrential rain and leaving hundreds of thousands of residents without power. The National Weather Service said Isaias was expected to deliver up to 5 inches of rain in some parts of the region and possibly lead to flooding. Weather forecasters and state officials also warned of the potential for tornadoes to hit southeast New York, northeast New Jersey and southern Connecticut.
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