Fixed Income

• Rates Markets ‘Fairly Pricing’ Fed Path, Goldman Trader Says
  A rates-product executive at Goldman Sachs Group Inc. said traders are positioned correctly for the Federal Reserve to raise interest rates to combat a surge in war-driven inflation.
• Ukraine Steel Giant Tests Investor Demand After Bond Redemption
  Metinvest BV is sounding out fixed-income investors on a potential return to the market after the Ukrainian steel and mining group had to fund the redemption of a bond using cash earlier this year.
• Jakarta Plans Indonesia’s First Municipal Bond Within a Year
  Jakarta aims to issue Indonesia’s first municipal bond within a year as part of efforts to diversify city revenue sources following budget cuts.
• Banks Line Up €1.7 Billion Debt for Triton’s Flender Buyout
  Deutsche Bank AG and Goldman Sachs Group Inc. are among banks that have lined up around €1.7 billion ($1.97 billion) of debt financing that will back Triton Partners’ acquisition of German gearbox-maker Flender GmbH.
• European Bonds Surge as Trump Touts Progress on Iran Deal
  European and US bonds rallied as the renewed potential for a peace deal in the Middle East drove down oil prices and eased concerns over quickening inflation.
• Several Indonesian Bond Funds Delay Redemptions After Turmoil
  Two funds that hold Indonesian bonds are delaying redemptions to manage liquidity pressures stemming from the nation’s recent financial market turmoil.
• Lloyds Taps Japan’s Booming Samurai Market With ¥75 Billion Sale
  Lloyds Banking Group Plc became the latest borrower to sell bonds in the booming Samurai market, where issuance has reached the highest level since fiscal year 2015 amid strong demand from yield-seeking investors.
• SpaceX Debt Is ‘Biggest Rising Star of All Time,’ Marathon’s Richards Says
  Even as SpaceX readies its record initial public offering, it’s already the “biggest rising star of all time” in credit, says Bruce Richards, chairman of Marathon Asset Management LP.
• Centerview, Venezuela Discussed $150 Million Fee for Debt Rework
  Centerview Partners was in negotiations with Venezuela as recently as last month for a contract worth at least $150 million for its work as the sole financial adviser on the country’s debt restructuring, a sum that would far exceed payouts for past sovereign deals, according to a draft of the agreement seen by Bloomberg.
• Oaktree Sees Distressed Opportunities as Kick-the-Can Era Ends
  Higher-for-longer interest rates means over-leveraged companies are running out of ways to repay their borrowings ahead of a looming maturity wall, according to Brook Hinchman, a managing director at Oaktree Capital Management LP.
• EU Powers Skeptical of Budget Leeway for Energy Crisis Aid
  Several European Union countries are expressing concerns about the bloc’s move to loosen budget rules as the Iran war squeezes markets, arguing the continent may be eroding its fiscal discipline.
• CoreWeave AI Funding Goes Global With Euro Junk-Bond Deal
  Cloud-computing giants powering the artificial intelligence boom are tapping global debt markets to fund hundreds of billions of dollars needed for data centers, chips and other infrastructure. Junk-rated CoreWeave Inc. is now following their lead.
• JBS to Close Pennsylvania Beef Plant Amid Cattle Shortage
  JBS NV is closing a beef plant in Pennsylvania, in the latest sign of pressures meatpackers are facing amid a severe US cattle shortage.