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Risk-to-Price Commentary: R2P Fixed-Income Strategy: May 27, 2011 Jun 11
Standard & Poors, June 2011
Abstract
U.S. economic indicators, combined with figures showing factory growth easing in Europe and Asia in May, raised fresh questions about the pace of the global economic recovery. Several reports have suggested the U.S. economy struggled in May. The nation's private companies hired far fewer workers than expected, and output in the manufacturing sector slowed to its lowest level since 2009, raising concerns that the recovery was running out of steam. The Institute for Supply Management said its index of national factory activity fell to 53.5 in May from 60.4 the month before. New orders, a barometer of future demand, fell to 51.0 from 61.7 in April, the lowest since June 2009. Likewise in Europe, a gauge of manufacturing in the...
Companies mentioned in this report are: Donnelley (R.R.) & Sons Company,Sunoco Inc.,Tyson Foods Inc.,Webster Financial Corp.,DaVita Inc.,Maritimes & Northeast Pipeline LLC,Corn Products International Inc.,Daily Mail & General Trust PLC,Fiserv Inc.,Virgin Media Finance PLC,National Express Group PLC
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.
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