Companies are bringing back cash, but repatriation totals are less than a quarter the estimates at the time Trump tax law was enacted.
When Cendant Corp. split into four separate companies last year, it created a thorny problem for the credit default swap market, where investors buy and sell protection on corporate debt. It also created a unique opportunity, which the treasury team at Avis Budget–one of Cendant’s legacy companies–spotted: “It would have been easy for someone to ignore this. I think we realized the opportunity because we took time to think about the potential risks and rewards,” says Avis CFO and Treasurer David Wyshner.
Much is sovereign debt, but nearly a quarter of the investment-grade market is now negative-yielding as well.
'Major' suppliers have been asked to mull the feasibility of shifting production to Southeast Asia.
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