Turkey's dollar-denominated bonds weakened across the curve on Monday with some issues tumbling by around 4 cents after ratings agency Moody's cut the country's sovereign rating to 'junk' late on Friday. Longer-dated issues suffered some of the heftiest losses.
The iPhone maker is cheap and the risk is lower, according to Robert Naess, who oversees 33 billion euros in stocks at Nordea Bank, Scandinavia's largest bank. "Apple is boring now," he said in an interview at Nordea's offices in Oslo Thursday.
Asian shares were mostly lower Monday as market attention turned from action from central banks to the U.S. presidential race, with a closely watched debate upcoming. KEEPING SCORE: Japan's benchmark Nikkei 225 edged down 0.8 percent in morning trading to 16,623.05.
In 2013, then Federal Reserve Chairman Ben Bernanke announced that the Fed would taper, or gradually reduce, its bond-buying program that pumped money into the financial system. "Investors are contemplating the risk of a renewed 'taper tantrum' in EM as core bond yields have moved modestly higher in September, with regional rates moving in sympathy and EM equities and FX weakening," Andrew Tilton, chief Asia Pacific economist at Goldman Sachs, wrote in a note on Monday.
Polymetal International Plc led losses, down 7.9 percent after its holders said they plan to sell about 26 million of its shares. Precious-metal producers Fresnillo Plc and Randgold Resources Ltd. also dropped.
Though you can rarely say this in investing, it is in fact good to be bad when it comes to so-called "sin stocks" like tobacco stocks. Potential moral qualms aside, tobacco stocks have enjoyed something of a moment of late; many of the largest tobacco stocks have outperformed the S&P 500 over the past year.