October 5, 2020 - Zxcoachoutlet

Colombia to substitute some planned dollar financing for $1.3 bln in bonds -sources

October 5, 2020

By Nelson Bocanegra

BOGOTA, Oct 5 (Reuters) – Colombia plans to substitute some of its planned 2020 financing in dollars for a local debt emission of about 5 trillion pesos ($1.28 bln), three market sources with knowledge of the plan told Reuters on Monday.

The ministry will extend auctions of local so-called TES bonds until November in order to raise the projected funds.

TES paper is the country’s second top source of financing after tax collection.

The Finance Ministry plans to move ahead with pre-financing needs for 2021 and is considering an internal debt swap on the local market, the sources said.

The ministry did not have an immediate response to a request for comment.

In early September, director of public credit Cesar Arias told Reuters Colombia would carry out public debt swaps with multilateral banks to reduce its exchange rate exposure amid higher debt due to coronavirus and

Australia’s Newcrest Mining cleared to trade on TSX from Oct 13

October 5, 2020

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Oct 6 (Reuters) – Australian gold miner Newcrest Mining NCM.AX said on Tuesday it has received conditional approval to list on the Toronto Stock Exchange (TSX) and will begin trading on Oct. 13.

The listing comes after Newcrest last year acquired a 70% joint venture interest in the Red Chris mine in British Columbia, Canada from Toronto-listed Imperial Metals Corp III.TO.

“A North American listing is part of our strategy of pursuing growth in the Americas,” Chief Executive Officer Sandeep Biswas said in a statement.

Newcrest, which also has investments in Ecuador, had seen increased interest from North American investors in the gold sector over the last six months, Biswas added.

“It makes sense for Newcrest stock to be able to be traded in this time-zone,” he said.

Gold miners have benefited from rising bullion prices, which have jumped 30% this year to around $2,000 an ounce, as central

Fed Study: How We Made The Top 10% Richer Than Ever

October 5, 2020

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Every three years, the Federal Reserve releases a study on consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2019 Fed survey confirms statements I have made previously regarding how the Fed’s monetary interventions made the top 10% more prosperous than ever. They just left the vast majority of Americans behind.

While we will address the statistical data, there is also the anecdotal evidence that supports this thesis. Since 2008, there have been rising calls for socialistic policies such as universal basic incomes, increased social welfare, and even a two-time candidate for President who was an admitted socialist. Such things would not occur if “prosperity” was flourishing within the economy.

Fed Or Growth

“The disparity between the Fed’s interventions, the stock market, and the real economy has become abundantly clear. For 90% of Americans, there has not been, nor will there

Occidental Petroleum Is Well Below Tangible Book Value

October 5, 2020

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a close up of a sign: A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

© Source: Pavel Kapysh / Shutterstock.com
A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

Occidental Petroleum (NYSE:OXY) stock is down 16% in the past month and even over 75% in the year-to-date. OXY stock is wavering at 70% of its estimated $14.05 common stock tangible book value per share (TBVPS).

© Provided by InvestorPlace
A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

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It’s likely that OXY stock will drift further down if oil does not rebound and if its TBVPS deteriorates. But in the near to long term, I believe that OXY stock will move higher as economic mobility increases.

In addition, as Covid-19 vaccines start to slow down the spread of the pandemic in 2021, the price of oil should rise. This will slowly push up OXY stock

Essentially, then, now is a good time to accumulate the

Precious Metals And Cryptocurrencies – Third Quarter 2020 Review (NYSEARCA:GLTR)

October 5, 2020

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The precious metals sector of the commodities market posted a gain over the third quarter of 2020, with all members of the sector posting impressive gains. The sector has moved over 17% higher over the first nine months of 2020.

The composite of the four precious metals that trade on the COMEX and NYMEX divisions of the CME dropped by 5.44% in Q1 2020. In Q2, it gained 11.52%. In Q3, it vaulted 14.30% to the upside and was 17.46% higher over the first nine months of this year.

In Q1, the outbreak of coronavirus and the upcoming US election caused volatility in markets across all asset classes. During the final week of February, risk-off conditions caused central banks around the world to ease, which continued to support the price of gold. In March, the US central bank lowered the Fed Funds rate to zero percent and launched bazookas of

Mortgage REITs Raise Dividends | Seeking Alpha

October 5, 2020

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This research report was produced by The REIT Forum with assistance from Big Dog Investments.

The topics we discuss are going to be extremely relevant to the residential mortgage REITs. The table below uses BV as of Q2 2020 (if the company has reported earnings):

Ticker	Company Name	Focus	Price to Trailing BV	BV Q2 2020	Price
ORC	Orchid Island Capital	Agency	0.98	$5.22	$5.13
DX	Dynex Capital	Agency	0.94	$16.69	$15.72
ARR	ARMOUR Residential REIT	Agency	0.88	$11.11	$9.83
AGNC	American Capital Agency Corp.	Agency	0.88	$15.86	$14.00
NLY	Annaly Capital Management	Agency	0.87	$8.39	$7.27
CMO	Capstead Mortgage Corporation	Agency	0.85	$6.79	$5.75
TWO	Two Harbors Investment Corp.	Agency	0.73	$7.24	$5.27
CHMI	Cherry Hill Mortgage Investment	Agency	0.70	$13.41	$9.39
AI	Arlington Asset Investment Corporation	Agency	0.51	$5.63	$2.86
MITT	AG Mortgage Investment Trust, Inc.	Hybrid	1.07	$2.75	$2.95
IVR	Invesco Mortgage Capital	Hybrid	0.91	$3.17

ExxonMobil To Cut European Workforce 11% With 1,600 Layoffs

October 5, 2020

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ExxonMobil has struggled amid a drop in crude price globally as well as the shift... — ExxonMobil has struggled amid a drop in crude price globally as well as the shift to renewable energy

BRUCE BENNETT

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US oil and gas giant ExxonMobil announced Monday it would slash 1,600 jobs in Europe, more than 11 percent of its workforce in the region, as it struggles with the hit from the coronavirus downturn.

“The impact of Covid-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work,” the Texas-based company, said in a statement.

The company said the job cuts would happen by the end of next year but did not any additional details saying only that “Country-specific impacts will depend on the company’s local business footprint and market conditions.”

Facing decreased demand for crude caused by the coronavirus pandemic as well as the growing shift to green energy, ExxonMobil has seen its share value on Wall Street plummet by more

Wild gas price swings reveal doubts about winter, supplies

October 5, 2020

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Rollercoaster moves in the natural gas market over the past few weeks are underscoring traders’ uncertainty about whether a frigid winter, muted output, and rebounding demand will send prices rocketing higher in the coming months.

Gas futures settled more than 7 percent higher on Monday, mimicking gains in oil and equities. But just two weeks ago, prices posted their biggest one-day loss in almost two years. Historical volatility has surged to levels not seen since late 2018, and implied volatility, a measure of how dramatic price swings may be going forward, is the highest in data going back to 2010.

Bullish bets on US gas have soared as traders wager on lackluster production and surging demand heading into winter. Liquefied natural gas exports are rising as consumption recovers from pandemic-driven lockdowns, and as terminals restart after storm-related outages and maintenance. Meanwhile, shale output remains subdued as drillers heed investor calls

D.C. residents to see small increase in health insurance marketplace rates

October 5, 2020

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Rates for individual coverage will increase overall by 0.2 percent and rates for small-group coverage, such as small businesses, will decrease by 0.5 percent, according to the D.C. Department of Insurance, Securities and Banking, which reviews and approves rates for the online marketplace.

The 2021 rates are a “big win for D.C. residents in making health care more affordable and accessible,” said William Borden, a professor of medicine and health policy at George Washington University. He pointed to how people have struggled to keep up with rising health insurance premiums, even before the novel coronavirus took hold.

“Having health insurance is clearly associated with better health outcomes, and so if there was going to be a sharp increase in insurance premiums that really could be devastating, especially as individuals, small businesses are already struggling financially,” Borden said.

Insurers initially asked for rate increases as high as 30 percent, but most

Warburg Pincus-backed Sequoia raises $179 mln in Brazil IPO – sources

October 5, 2020

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Adds details, background

SAO PAULO, Oct 5 (Reuters) – Brazilian logistics company Sequoia Solucoes Logisticas SEQL3.SA raised 1 billion reais ($179.39 million) in an initial public offering priced on Monday, according to two people familiar with the matter.

The company, which has U.S. private equity firm Warburg Pincus as controlling shareholder, priced its shares at 12.40 reais each, bellow the bottom of its price range, which was set at between 14.25 reais and 17.75 reais.

Both the company and its shareholders sold shares in the offering, which was managed by investment banks Banco BTG Pactual SA, Santander, Morgan Stanley and ABC Brasil.

IPOs by Brazilian companies have faced lower-than-expected demand amid concerns about Brazil’s fiscal discipline and a huge pipeline of deals.

Still, a source said that 56% of the shares sold in the offering have been acquired by foreign investors, above the 40% average seen this year.

($1

Fed Or Growth

ExxonMobil has struggled amid a drop in crude price globally as well as the shift to renewable energy