The Dixie Fire in Northern California, already ranking as the state’s eighth largest ever, burned a small town overnight and prompted area evacuations, weeks after Pacific Gas and Electric said its equipment may have sparked the blaze.
It already has burned more than 320,000 acres and 45 known structures, as damage assessment continues. Dry, windy conditions have helped fuel the fast-moving blaze, which was last reported as only 35% contained, according to the California Department of Forestry and Fire Protection. But since then, PG&E’s PCG, -4.27% BB- rated corporate debt has come under sharp pressure and has seen heavy trading volumes. Its 5.25% bonds due July 2030 have been at the heart of the action, with spreads gapping out by roughly 40 basis points to about 439 basis points above Treasurys, according to BondCliq data.
Bond spreads are the level investors are compensated above a risk-free benchmark, often Treasurys TMUBMUSD10Y, 1.216%, to help account for default risk. Wider spreads often point to market jitters or concerns around a specific company. Overall spreads for the broader ICE BofA BB U.S. High Yield index were last spotted at 241 basis points over Treasurys.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California Town Destroyed by Dixie Fire - Videos from The Weather Channel | weather.comHot, dry wind helped the Dixie Fire explode this week. It’s now the eighth-largest in California history. - Videos from The Weather Channel | weather.com The next generation of green energy 🙏🌎 ButteWxSpotter Greenville was such a beautiful community. I loved spending time there. My heart is broken 💔 Chalk up another town wiped off the map by massive wildfires. Yet, we continue to do nothing about it. Our species is broken.
Source: weatherchannel - 🏆 671. / 51 Read more »
Dixie fire destroys large swath of Greenville: 'It sounds like a war zone'The Dixie fire, already the 8th largest in California history, devastated the Plumas County town of Greenville on Wednesday. The total number of buildings lost is unclear, but officials said they were battling the blaze inside the town for hours. All diseases are vitamin deficiency or need a MASSAGE. There are no incurable diseases. Oncological diseases and AIDS arise from a lack of vitamins too. When people stop killing for the pleasure of food and clothing. Then only Peace will come and there will be no diseases.
Source: latimes - 🏆 11. / 82 Read more »
Dixie Fire grows 50K acres overnight, becomes 6th largest wildfire in California historyThe extreme fire behavior of Wednesday night was fueled by low humidity and strong winds, according to the California Department of Forestry and Fire Protection .
Source: Newsweek - 🏆 468. / 52 Read more »
U.S. wildfires burning in 13 states, have torched area over half the size of ConnecticutThe Dixie Fire jumped perimeter lines in a few spots Tuesday, prompting additional evacuation orders for some 15,000 people, fire officials said. Make corporate fossil fuel perpetrators pay for this damage.
Source: Newsweek - 🏆 468. / 52 Read more »
California Town Destroyed by Dixie Fire - Videos from The Weather Channel | weather.comHot, dry wind helped the Dixie Fire explode this week. It’s now the eighth-largest in California history. - Videos from The Weather Channel | weather.com The next generation of green energy 🙏🌎 ButteWxSpotter Greenville was such a beautiful community. I loved spending time there. My heart is broken 💔 Chalk up another town wiped off the map by massive wildfires. Yet, we continue to do nothing about it. Our species is broken.
Source: weatherchannel - 🏆 671. / 51 Read more »
Dixie Fire grows 50K acres overnight, becomes 6th largest wildfire in California historyThe extreme fire behavior of Wednesday night was fueled by low humidity and strong winds, according to the California Department of Forestry and Fire Protection .
Source: Newsweek - 🏆 468. / 52 Read more »