April 22, 2015
Firms Raising Debt for Dividends, Burdening Corporate Bond ETFs
Corporate balance sheets are not as robust as they use to be. According to Moody’s, U.S. investment grade companies at the end of last year held cash equal to 35% of adjusted annual earnings, compared to an average of 43% in 2013 and 51% in 2009. Additionally, the ratio of cash-to-debt has dipped to 14% in the third quarter of 2014, the lowest since 2007.
Q1 GDP Tracking: Movin' on Up
-
From BofA:
Since our update last week, *1Q GDP tracking is up two-tenths to 2.1% q/q
saar*. [Apr 19th estimate]
emphasis added
From Goldman:
We left ou...
7 hours ago
No comments:
Post a Comment