Post From Wealthwatch.world Chat Room Late Evening Part 1 of 2
RVPlease: that Iraq credit rating is a 7 then?
RVPlease: Hows come in the previous column... its also a 7... that doesnt make much sense..
Donnie: ‹@RVPlease› Their rating last year was 7 also
TXtrader: Unfortunately, RVPlease, i believe some of the Bond information put out earlier today was incorrectly interpreted. Per the only three credit rating agencies that matter world wide, S&P, Moody's, and Fitch, none have a credit rating listed for iraq.
chattels: Iraq's autonomous Kurdistan Regional Government (KRG) is pushing to control all oil sales from Kirkuk province – a further sign that a cooperative oil export and revenue sharing deal with Baghdad has disintegrated.The federal North Oil Company (NOC) is continuing to pump about 150,000 barrels per day (bpd) from Kirkuk fields into Kurdistan's autonomous pipeline to Turkey, according to both federal and KRG oil officials.
[07/09/2015 07:32:10 PM] chattels: www.iraqoilreport.com/new...
whitelions: Mike said the post about the bonds and credit rating is good...is calling someone he knows broker to see if they can see more info
tourman: with bond yields so low at this time the only thing that makes Iraq's bonds attractive is the speculation of a profit. I must hightlight the word "speculation". I dont think speculation about Iraq's ability to pay on these bonds at their current currency value makes any sense for an investor.
tourman: am i missing something here?
chattels: ERBIL, Kurdistan Region – US-led coalition airstrikes destroyed a military convoy of the Islamic State (ISIS) group in northern Iraq on Thursday, destroying armored vehicles and killing all the militants, a Kurdish commander said.
“The (coalition) warplanes attacked ISIS elements as they were passing through a road in Halabiya village, east of the Dijla frontline,” said Delshad Mawloud, a commander of the Kurdish Peshmerga forces.
Three armored vehicles that were in the convoy were destroyed and all ISIS fighters traveling with it were killed, he said, without specifying the number of casualties.
[07/09/2015 07:35:36 PM] chattels: rudaw.net/english/kurdist...
TXtrader: Been a licensed broker since 1997, and again, they currently do not have a credit rating from any of the 3 agencies that matter when it comes to issuing Debt instruments. Also, the interpreting of the Bonds being issued on the 8th was incorrect also. The ISIN identified bond XS0240295575 was Issued in Jan of 2006.
TXtrader: it is listed on the cbi website under Government Debt
TXtrader: only 2.7 billion of the available 14 billion was even purchased, so it was kinda a failure
] TXtrader: it does mature in 2028 and is paying a coupon/yeild of 5.8%
tourman: ‹@TXtrader› any comments on my statement above ^^^
chattels: ‹@tourman› sorry, i know nothing about bonds and financial instruments
TXtrader: well currently, they are not issuing any new bonds, but there have been articles saying they will do so in the next two months,, imo, if they want these bonds to sell better than they did in 2006, the thing they need most is a credit rating, which they also have said they are trying to obtain
tourman: ‹@chattels› ge sir!
OOTW: ‹@whitelions› OOOHHHH THAT'S GREAT WHITELIONS..I LIKE MIKE
OOTW: THANKS TX
OOTW: TRADER THAT IS
tourman: lets say they get the rating they want. what makes Iraq's bonds so attractive? Again, with the yields so low on bonds who want to buy them?
TXtrader: ‹@OOTW› your welcome
OOTW: I BY NO MEANS AM AN INTERNATIONAL CREDIT/BOND ANALZYER - MY SPECIALTY IS GOVT ANNOUNCEMENTS AND LAWS
OOTW: SO ANY INSIGHT IS GREAT, THANKS AGAIN
TXtrader: investors, institution, ect will always purchase bonds, even with low yields, depending on the credit rating, they can/are viewed as safe investements
Milndollarbabe: Such nice that this room has so many knowledgable ppl to gain insight from!
TXtrader: ‹@OOTW› well from my followings of this investement for the last 11 years, no one person knows it all, and usually takes a group effort to even come up with educated opinions lol
chattels: i bought currency speculating on a 1,000 % + return - why would i buy a bond from them hoping for a return of 10 % ?
tourman: ‹@TXtrader› tru dat lol
OOTW: ‹@TXtrader› ‹@Milndollarbabe› AGREED!
whitelions: ‹@tourman› I have no knowledge of how the bonds work but it must be a big deal b/c the world is waiting to buy them that tells me that they are coming in to compliance with what the IMF wants
tourman: ‹@chattels› i was told 1,001 % :sad:
OOTW: LIKING THIS CHAT - DEBATE AND INSIGHT IS GREAT
Satrib: ‹@Milndollarbabe› SHOES!!!!
Milndollarbabe: Satrib.... Lol
Satrib: ‹@Milndollarbabe› speaking of knowledge....what say you?
tourman: ‹@whitelions› Oh, I have no doubt that IRaq's bonds would be a great investment, I just questioned the low yields on profit
chattels: ‹@tourman› that would be 1.000 % + , eh ?
TXtrader: ‹@chattels› you or I probably would not, they are ment for other gov's or large instutions to purchase and put in a portfolio, hold till maturity, or a move in the bond market, and then receive their pricipal back. All the while collecting a yeild that can be pocketed for varios uses.
Milndollarbabe: Satrib.... I don't know anything about the bonds etc.... Above my pay grade!