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Joscelyn MacKay

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  1. Credit Market Outlook: Bonds Priced for the Benign

    Headlines

    Wed, 26 Mar 2014

    more cyclical name McDonald's MCD (rating: AA-, wide moat), which we rate one notch lower. Contributed by Joscelyn MacKay Consumer Defensive For the sector, we expect sales growth will only marginally exceed nominal GDP growth rates and

  2. Our Outlook for the Credit Markets

    Headlines

    Fri, 27 Dec 2013

    constraints of the rating are investing in the business and returning excess cash to shareholders. Contributed by Joscelyn MacKay Consumer Defensive For the sector, in 2014 we expect sales growth to only marginally exceed nominal GDP growth rates

  3. Our Outlook for the Credit Markets

    Headlines

    Wed, 25 Sep 2013

    and housing turnover trends will support strong results through at least the back half of 2013. Contributed by Joscelyn MacKay Consumer Defensive Agricultural prices for corn, wheat, soybeans, and sugar peaked a year ago. Since then, they

  4. Our Outlook for the Credit Markets

    Headlines

    Wed, 26 Jun 2013

    the eventual impact from Wal-Mart Stores ' WMT (rating: AA, wide moat) small-store rollout. Contributed by Joscelyn MacKay Consumer Defensive Consumer spending continues to hold up surprisingly well in spite of the payroll tax increase and

  5. Credit Outlook: Sector Updates and Top Bond Picks

    Headlines

    Wed, 27 Mar 2013

    activities (share repurchases and special dividends) pose the greatest risk to its bondholders. Contributed by Joscelyn MacKay Consumer Defensive Consumer spending has held up surprisingly well thus far this year in spite of the recent payroll

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