The option-adjusted spread on the Bloomberg Barclays index of investment-grade debt
in emerging markets - a measure of yield above U.S.
Peabody will be focused on managing investment-grade debt
securities in the fund, working with current portfolio managers Robert Persons and Andy Li.
The pharmacy giant plans to issue $40 billion of the investment-grade debt
in a nine-part offering, people with knowledge of the matter said.
While equity valuations can reside far from their means for extended periods, bond valuations expressed in current yields are more predictive of near-term returns for investment-grade debt
, a key component of the typical core portfolio.
Sempra Energy expects to fund the USD 9.45bn transaction using a combination of its own debt and equity, third-party equity, and USD 3bn of expected investment-grade debt
at the reorganised holding company.
Primarily focusing on capital markets, she represents issuers and underwriters in public and private offerings of equity securities, high-yield debt securities and investment-grade debt
"The premium we see associated with Chinese companies is absent in this case," Dorian Garay, a New York-based money manager for the global investment-grade debt
fund at ING Investment Management, said in a telephone interview.
The government is seen taking advantage of low borrowing costs due to falling US Treasury rates and healthy investor appetite for Gulf investment-grade debt
However, these risks are moderated by the Bank's healthy liquidity profile and large holdings of investment-grade debt
As for yield spreads, the spread for investment-grade debt
Ratings agency Standard & Poor's warned this month that India could be the first of the BRICS emerging economies -- which also includes Brazil, Russia, China and South Africa -- to lose its investment-grade debt
classification unless it revived growth and rekindled its reform programme.