01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Managed Funds

Business & Finance - Managed Funds

Italian bond yields fall to two-week low before auction test LONDON: Italy's borrowing costs fell to two-week lows on Thursday before a final bond auction of the year seen as a test of investor appetite for Italian debt as the country grapples with a crisis in its banking sector.The Italian government is scheduled to sell up to 6.75 billion euros of debt at an auction later in the day.That sale takes place at a time of intense focus on Italy's banking sector and the future of troubled lender Monte dei Paschi, which has requested aid from a new 20 billion-euro ($20.9 billion) state fund to help lenders in distress.Efforts to clean up the banks and a smooth transition to a new prime minister, Paolo Gentiloni, have helped Italian bonds recover from losses made in the run-up up to a Dec. 4 referendum, in which voters rejected proposed constitutional reforms. Matteo Renzi quit as premier after that vote.Still, there are concerns ...

Business & Finance - Managed Funds

China to permit special debt-to-equity bonds in new rules SHANGHAI: China has drawn up new guidelines allowing institutions to issue special bonds to finance debt-to-equity swaps, the state planning agency's official news website said. Chinadevelopment.com.cn, run by the National Development and Reform Commission (NDRC), said investment vehicles and asset management firms would be permitted to issue bonds at a value of no more than 70 percent of the value of the debt-to-equity contract, adding that 40 percent of the value of the bonds could ...

Business & Finance - Managed Funds

Nigeria sells 40bn naira in treasury bills at flat yields LAGOS: Nigeria raised 39.72 billion naira ($130.57 million) at a treasury bill sale on Wednesday, with yields unchanged on the previous auction, the central bank said on its website on Friday. It sold 13.17 billion naira of three-month paper at 14 percent, the same yield as on Dec. 14, and sold 26.55 billion naira of six-month paper at an also unchanged 17.5 percent. The auction was sparsely subscribed with total demand of 42.68 billion naira. ...

Business & Finance - Managed Funds

Bonds steady as volumes thin ahead of holiday NEW YORK: US Treasuries were steady in light trading volumes before the Christmas holiday with no new economic data due on Wednesday, as investors evaluated how many times the Federal Reserve is likely to raise interest rates next year."We've been trading in a fairly tight range the last couple of days with low volumes. It's very holiday like trading," said Dan Mulholland, head of Treasuries trading at Credit Agricole in New York."I think people are ...

Business & Finance - Managed Funds

Ukraine dollar-bonds hit 6-week highs as budget boosts IMF tranche hopes LONDON: Ukrainian sovereign dollar bonds rallied across the curve on Wednesday after the passage of the 2017 budget boosted chances of securing the next tranche of the International Monetary Fund's (IMF) $17.5 billion loan. The budget keeps the deficit at 3 percent of gross domestic product - in line with the IMF requirements.Bonds that were issued as part of a restructuring deal last year rose to six-week highs, with the exception of the 2019 issue ...

Business & Finance - Managed Funds

Romania sells less 5-month T-bills than planned BUCHAREST: Romania sold a less than planned 356 million lei ($82.37 million) worth of five-month treasury bills on Monday, with the average accepted yield at 0.76 percent, central bank data showed.Debt managers, who had planned to sell 800 million lei, issued six-month paper in September at an average yield of 0.42 percent, and one-year bills in November at 0.84 percent.Since then, US Federal Reserve signals of faster interest rate hikes have weighed on emerging European ...

Business & Finance - Managed Funds

Japan mulls less government bond sales FY2017 for a 4th year TOKYO: Japan is considering selling some 141 trillion yen ($1.19 trillion) of debt on the domestic market for the next fiscal year from April, effectively lowering bond issuance for a fourth straight year, government sources involved in the debt issuance plan told Reuters. The amount marks a fall of 5-6 trillion yen from this fiscal year's plan to auction 147 trillion yen of Japanese government bonds (JGBs) to the market, the sources said on condition ...