(Bloomberg) — China’s government is expected to price a potential $6 billion bond sale as early as Wednesday, ahead of possible volatility from U.S. elections next month.

The Ministry of Finance is arranging investor calls for 144a and Regulation S senior bonds Tuesday, according to people familiar with the matter who aren’t authorized to speak publicly. The ministry is seeking to raise about $6 billion via multi-tranche notes that will likely include three-year, five-year, 10-year and 30-year maturities, Bloomberg reported last week.

Officials at the ministry weren’t immediately available to comment.

The planned bond sale follows the ministry’s jumbo global debt offerings in two currencies in November, when it sold $6 billion of dollar bonds and 4 billion euro notes. The former drew bumper demand with orders at more than triple the targeted size.

chart, treemap chart: Scarce Supply

© Bloomberg
Scarce Supply

China’s fresh sovereign debt sale this week comes as uncertainty ahead of the U.S. elections in November is beginning to weigh on investor sentiment with some analysts anticipating a pick-up in volatility.


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“By moving forward the USD bond auction to October, MOF will avert risks of facing less receptive market conditions and increased volatility due to the U.S. elections,” said Chang Wei Liang, a macro strategist at DBS Bank Ltd. in Singapore. With the Fed keeping policy rates near zero and yields hovering near record lows, China should see a significantly lower cost of funding across the curve compared to 2019, he added.

China’s Ministry of Finance hired 13 financial institutions for the sale that includes four Chinese firms, according to people familiar with the matter.

(Updates with chart after fourth paragraph, analyst comment in sixth paragraph)

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SINGAPORE – Oil prices slipped on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected build-up in U.S. crude stocks.

U.S. West Texas Intermediate (WTI) crude CLc1 oil futures fell 87 cents, or 2.1%, to $39.80 a barrel by 0104 GMT while Brent crude LCOc1 futures fell by 74 cents, or 1.7%, to $41.91 a barrel.

President Trump, still being treated for COVID-19, ended talks on Tuesday with Democrats on an economic aid package for his pandemic-hit country with the U.S. presidential election only weeks away.


Price were also pressured by data from the American Petroleum Institute showing U.S. crude oil stocks rose by 951,000 barrels last week – more than expected. <API/S>

“(This was) not exactly what the recovery doctor ordered as the oil market was already tanking from a two-week high after President Trump quashed hope for a pre-election stimulus deal,” said Stephen Innes, chief market strategist, at online brokerage AxiCorp.

Oil prices slipped on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected build-up in U.S. crude stocks. (iStock)

But losses were limited by restrictions on the supply side.


Energy companies were busy securing offshore production platforms and evacuating workers on Tuesday, some for the sixth time this year, as Hurricane Delta took aim at U.S. oil production in the Gulf of Mexico, which accounts for 17% of total U.S. crude oil output.


In Norway, meanwhile, the Lederne

(RTTNews) – The Hong Kong stock market has finished higher in three straight sessions, jumping more than 700 points or 3.1 percent along the way. The Hang Seng Index now rests just beneath the 24,000-point plateau although it’s predicted to open under pressure on Wednesday.

The global forecast for the Asian markets is broadly negative after U.S. President Donald Trump ordered an end to stimulus negotiations until after the election. The European markets were up and the U.S. bourses were lower and the Asian markets figure to follow the latter lead.

The Hang Seng finished modestly higher on Tuesday following gains from the casinos and oil companies, while the financials and insurance companies were mixed.

For the day, the index advanced 212.87 points or 0.90 percent to finish at 23,980.65 after trading between 23,842.25 and 24,005.03.

Among the actives, WuXi Biologics surged 4.95 percent, while AAC Technologies soared 4.57 percent, China Mengniu Dairy spiked 3.34 percent, China Resources Land accelerated 3.31 percent, CNOOC rallied 3.26 percent, CSPC Pharmaceutical jumped 3.20 percent, Xiaomi climbed 2.88 percent, Galaxy Entertainment gathered 2.71 percent, WH Group perked 2.67 percent, CITIC advanced 1.96 percent, China Petroleum and Chemical (Sinopec) added 1.93 percent, New World Development strengthened 1.60 percent, Techtronic Industries gained 1.55 percent, BOC Hong Kong collected 1.46 percent, Sands China rose 1.35 percent, China Life Insurance skidded 0.88 percent, Power Assets increased 0.85 percent, Hong Kong & China Gas was up 0.72 percent, Alibaba sank 0.71 percent, Wharf Real Estate dropped 0.62 percent, Hang Lung Properties shed 0.49 percent, China Mobile added 0.30 percent, Industrial and Commercial Bank of China lost 0.25 percent, AIA Group gained 0.19 percent, Ping An Insurance rose 0.12 percent and Henderson Land and Sun Hung Kai Properties were unchanged.

The lead from Wall Street is broadly negative as stocks

a dog wearing a costume: Duke Energy, Datadog, Canada Goose: 5 Top Gainers for Wednesday

© TheStreet
Duke Energy, Datadog, Canada Goose: 5 Top Gainers for Wednesday

Stocks finished higher Wednesday as Treasury Secretary Steven Mnuchin indicated he expected to reach agreement on a stimulus package with House Speaker Nancy Pelosi.

A stronger-than-expected reading on U.S. private payrolls and Chicago PMI also lifted sentiment.

Here are some of the big movers in the stock market on Wednesday:


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1. Sunnova Energy | Percentage Increase 13%

Shares of Sunnova Energy climbed after J.P. Morgan analyst Mark Strouse assumed lead coverage of the solar and energy storage services company with an overweight rating and price target of $34, up from $29. The stock should attract investors looking for exposure to the decarbonization, decentralization, and digitization of energy, Strouse said.

2. Canada Goose | Percentage Increase Over 8%

Canada Goose shares were taking off after Cowen analyst Oliver Chen upgraded the luxury coat maker to outperform from market perform with a price target of $36, up from $23. The company is well-positioned as an outdoor resource amid the coronavirus pandemic, as a leading brand in stores, and as a global luxury beneficiary as China improves faster, Chen said.

3. Genetron Holdings | Percentage Increase Over 23%

Genetron Holdings GTH advanced after the Beijing precision oncology company said its blood-based next-generation sequencing test, HCCscreen, was granted Breakthrough Device designation by the U.S. Food and Drug Administration.

4. Duke Energy | Percentage Increase Over 7%

Shares of Duke Energy gained after The Wall Street Journal reported the power giant rebuffed a potential takeover bid from NextEra Energy , the world’s largest utility owner by market value, paving the way for another bid.

5. Datadog | Percentage Increase Over 12%

Shares of Datadog jumped after the provider of a security platform for cloud applications said it partnered with software giant

chart, histogram: Beyond Meat Surges BYND

© Source: Chart courtesy of StockCharts.com
Beyond Meat Surges BYND

After a monstrous day on Monday, stocks took a breather on Tuesday, spending most of the day near flat. That doesn’t mean some of our top stock trades weren’t putting together big moves though. With all of that in mind, let’s have a look.

Top Stock Trades for Tomorrow No. 1: Beyond Meat (BYND)

chart, line chart: Beyond Meat Surges BYND

© Provided by InvestorPlace
Beyond Meat Surges BYND

Click to Enlarge

Beyond Meat (NASDAQ:BYND) was in focus today, rallying more than 10% until it ran into resistance.

That resistance came in the form of the 138.2% extension and the June highs between $160 and $165. This area stymied Beyond Meat’s summer rally, as shares ultimately faded lower.

On the plus side, it allowed the stock to carve out a notable low around $120.

Let’s see if we can get a close above the 138.2% extension with this one. If so, it could trigger an eventual move up toward the 161.8% extension near $190. Until the trend becomes invalidated, bulls can look to buy the dip into the 10-day moving average and uptrend support (blue line).

Top Stock Trades for Tomorrow No. 2: Shopify (SHOP)

chart: Beyond Meat Surges SHOP

© Provided by InvestorPlace
Beyond Meat Surges SHOP

Click to Enlarge

Source: Chart courtesy of StockCharts.com

After an enormous rally from the March lows, Shopify (NYSE:SHOP) has done well this summer. However, it has struggled to push through the $1,100 area.


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Its failure to break through ultimately led to a pullback. Eventually shares were able to reverse off $850 on Sept. 17. I think it’s important to highlight the fact that when the Nasdaq Composite made new lows on the 21st and 24th, Shopify did not.

Now reclaiming the 50-day moving average on Tuesday, let’s see