12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Managed Funds

Business & Finance - Managed Funds

China SHANGHAI: China's primary money rates were up sharply for the week on tight liquidity after days of net fund drains by the central bank although pressure eased on Friday, traders said.The People's Bank of China (PBOC) is controlling liquidity to curb potential risks and an expansionary monetary policy is unlikely to return in the near future, industry sources say.Money conditions were "extremely tight" in the middle of the week, triggering a sell-off in the bond market, but supply and demand were more balanced and conditions slightly looser on Friday, traders said.Chinese 10-year treasury futures for March delivery fell by the most in more than a year on Tuesday, and as of Friday afternoon the price was down 1.34 percent from last week's closing price.The 10-year treasury yield rose 16 basis points to 3.05 percent from the previous week's close."Money conditions were largely tight in November, and a series of daily net drains through open market operations and seasonal factors piled on a lot ...

Business & Finance - Managed Funds

German Bund yields hit 1-week high as oil-price surge lifts inflation expectations LONDON: Germany's benchmark Bund yield rose to a one-week high on Thursday, after the first output cut by major oil producers since 2008 sent oil prices surging and boosted expectations of higher inflation.Oil prices rose as much as 13 percent after the Organization of the Petroleum Exporting Countries and Russia on Wednesday agreed a deal to reduce output to drain a global supply glut.Higher inflation erodes the value of bonds and the prospect of higher oil prices comes at a ...

Business & Finance - Managed Funds

Islamic Development Bank sets final guidance for 5 years sukuk DUBAI: The Islamic Development Bank (IDB) has set at 45 basis points over mid-swaps the final spread of its planned five-year sukuk, according to a document sent by the banks leading the transaction and seen by Reuters.  The order book for the planned Islamic debt sale stood at $1.2 billion, the document stated. IDB had set initial pricing guidance in the 50 basis points over mid-swaps area on Tuesday, and revised the range to 45-50 bps over mid-swaps earlier on ...

Business & Finance - Managed Funds

Tunisia to issue 1bn euro Eurobond in January TUNIS: Tunisia plans to issue a Eurobond worth 1 billion euros in January as it seeks funding to cover its deficit, a government source said on Monday. The issue was initially scheduled for April, but that was delayed after Tunisia secured a $500 million sovereign bond fully guaranteed by the United States, said the official."Tunisia will issue in January 2017 a delayed 1 billion euro Eurobond that was first planned earlier this year," he said, ...

Business & Finance - Managed Funds

Development Bank of Kazakhstan to buy back up to $200mn in bonds MOSCOW: State-owned Development Bank of Kazakhstan (DBK) offered on Monday to buy back up to $200 million in 2022 Eurobonds out of a $1.425 billion issue, the bank said in a statement. The offer runs until Dec. 7 with a minimum price set at 94.5 percent of face value, the bank said.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Indian bond yields jump after RBI hikes cash reserve ratio MUMBAI: Indian bonds slumped on Monday, with the benchmark 10-year bond yield up as much as 15 basis points, after the central bank ordered banks to boost cash deposits with it in a bid to absorb excess liquidity generated by a government ban on larger notes.The benchmark 10-year bond yield was up 8 basis points at 7.31 percent at 0345 GMT, after earlier rising as much as 15 basis points at open, reacting to the ...

Business & Finance - Managed Funds

Egypt's three and nine-month t-bill prices fall in weekly auction CAIRO: Yields on Egypt's three- and nine-month Treasury bills rose at an auction on Sunday, data from the central bank showed. Yields on the 91-day bill increased to an average of 18.186 percent from 17.744 percent the last time similar bills were sold. Yields on the 273-day bill jumped to an average of 18.475 percent from 17.610 percent at the last similar auction.Copyright Reuters, 2016 ...