Today's edition of the Saxo Morning Call features the SaxoStrats team discussing the continuing weakness of the US dollar as commodity prices recover ground and in the wake of key US equity indices hitting all-time highs Thursday.
Strategic trade
Trade view / 10 August 2015 at 10:56 GMT

#SaxoStrats: Shipper could bounce despite China woes

Fixed Income trader / Saxo Bank
Instrument: CMA:xnys
Price target:
Market price:



Shipping giant CMA CGM recently secured re-financing of bond issues before market turmoil this summer hit container freight rates on the back of China's ongoing slowdown.

Nevertheless, as the third largest worldwide shipping company with a fleet of 428 ships on 170 shipping routes, the new bond could be ready to rebound. The hit it has taken as a consequence of the fallout from China looks excessive and a more positive economic outlook in Europe and US should be supportive.

This bond was issued in June 2015 with the purpose of replacing existing and more expensive bond issues, which have been called.

Management and risk description

Key risks include freight rates, price dumping and further economic fall-out in China.


CMA has slipped towards 91.00 as the China stock market crisis unfolds


— Edited by Martin O'Rourke

Read more from #SaxoStrats

Non-independent investment research disclaimer applies. Read more

fxtime fxtime
Certainly worth watching as you suggest.


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