In the credit markets which is why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal that gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints
Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline business ha
They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are business has been sucking capital out of the market left and right. When you read that warren buffet bought 26. 53 million shares, a pipeline giant kinder
Or tweet me jimcramer. After todays tremendous rally with the dow gaining 257 points, s p vaulting 1. 65 and the nasdaq roaring 2. 21 its worth remembering that good things can happen, too. That sums up whats behind this. The first threeday winning streak we have had in 2016. Some of these developments are straightforward but perhaps ephemeral like oil surging to over 30 a barrel. Others are less obvious if you are watching the stock market. A lot happen behind the scenes in the credit markets which is why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to that bomb setting up a bad chain reaction. Pay it out of cash on hand and
Why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion