Risk-to-Price Commentary: R2P Fixed-Income Strategy As Of April 29, 2011 May 11
Standard & Poors, May 2011
Abstract
The ongoing global economic recovery and strong corporate earnings have supported equity markets since the beginning of 2011. In the U.S, the S&P 500 Index rose 7.05% since the start of the year, and in Europe, the S&P 350 Index increased by 1.68%. However, negative equity performance in both the U.S. and Europe since April 10 showed that market participants remain uncertain about the future of the economy. In the U.S., for example, service industries expanded in April at the slowest pace in eight months, as companies cut back in response to higher energy costs. The Institute for Supply Management's index of nonmanufacturing companies declined to 52.8 last month, lower than the median forecast of economists surveyed by Bloomberg News,...
Companies mentioned in this report are:
- Clorox Co.
- Newmont Mining Corp.
- NextEra Energy Capital Holdings Inc.
- Peugeot S.A.
- Oracle Corp.
- Humana Inc.
- Chesapeake Energy Corp.
- Smithfield Foods Inc.
- Remy Cointreau S.A.
- PostNL N.V.
- GKN Holdings PLC
- BMC Software Inc.
- Biogen Idec Inc.
- Conti-Gummi Finance B.V.
- Polypore International Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Clorox Co.
- Newmont Mining Corp.
- NextEra Energy Capital Holdings Inc.
- Peugeot S.A.
- Oracle Corp.
- Humana Inc.
- Chesapeake Energy Corp.
- Smithfield Foods Inc.
- Remy Cointreau S.A.
- PostNL N.V.
- GKN Holdings PLC
- BMC Software Inc.
- Biogen Idec Inc.
- Conti-Gummi Finance B.V.
- Polypore International Inc.
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