07242016Sun
Last update: Sun, 24 Jul 2016 06am

Managed Funds

Business & Finance - Managed Funds

UK government bond yields hit 10-day high after BoE unexpectedly holds rates LONDON: British government bond yields rose to a 10-day high on Thursday after the Bank of the England wrong-footed investors by keeping interest rates on hold, in its first monetary policy decision since last month's Brexit vote.Investors and economists had expected Britain's central bank would cut rates from 0.5 percent to a new record low of 0.25 percent.Instead the BoE said it would wait until next month when it had a better view of how fast the economy was slowing, before potentially unveiling a wider package of measures. Gilt yields rose sharply and short sterling futures fell, although the reaction was more muted than some had feared. "It could have been a lot worse," said Marc Ostwald, strategist at ADM Investor Services. "That's because we had a big clear-out earlier in the week thanks to the fact that (new British prime minister Theresa) May was able to form a government ...

Business & Finance - Managed Funds

Euro zone bond yields rise as Britain holds rates post-Brexit LONDON: Euro zone bond yields rose on Thursday after the Bank of England wrong-footed investors by holding interest rates steady at its first meeting since Britain's vote to leave the EU last month. While the BoE said it was likely to deliver stimulus soon, markets had been priced for the first cut in more than seven years as Britain's economy reels from last month's Brexit vote. Sterling, British and other benchmark bond yields rose after ...

Business & Finance - Managed Funds

Venezuela's PDVSA issued $831mn debt to pay providers this year CARACAS: Venezuela state oil company PDVSA has issued $831 million in promissory notes this year to repay debts to service providers, according to its latest financial statement. The notes, with an interest rate of 6.5 percent, mature in 2019, the company said in its 2015 financial statement published late on Tuesday.The exclusive operator of the South American OPEC country's vast oilfields, PDVSA has run up more than $19 billion in unpaid bills to service providers ...

Business & Finance - Managed Funds

European bond trading volumes -4pc in Q2 LONDON: European fixed income trading volumes fell in the three months to June, dragged down by slowing activity in government bond trading, bond trading platform and data provider MarketAxess said on Tuesday. Total traded volume across all assets spanning the fixed income universe was 6.802 trillion euros in the second quarter, down 4 percent from the same period a year ago, and was down 3.9 percent from the previous quarter.The number of trades also fell ...

Business & Finance - Managed Funds

JGBs slip after weak 30-year auction, rebounding stocks TOKYO: Japanese government bonds were mostly down on Tuesday as weak demand at a 30-year auction undermined already shaky sentiment against the backdrop of rebounding equities, though bargain-hunting late in the session brought yields off their highs.The Nikkei stock index ended up 2.5 percent as risk appetite recovered, lessening the appeal of safe-haven government debt.Superlong JGBs underperformed, with the 20-year yield rising 1.5 basis points to 0.065 percent, but off a session high of 0.095 ...

Business & Finance - Managed Funds

Sri Lanka launches 5.5 years bond at 5.75pc; 10 years bond at 6.825pc COLOMBO: Sri Lanka launched a $500 million, 5.5-year bond at a yield of 5.75 percent and a $1 billion, 10-year bond at 6.825 percent on Monday, to be allocated and priced shortly, a source close to the deal told Reuters. The island nation's first two-tranche bond has already received orders exceeding $4.5 billion, forcing yields lower.Citigroup, Deutsche Bank, HSBC and Standard Chartered are joint bookrunners. Last October, Sri Lanka sold a $1.5 billion 10-year bond ...

Business & Finance - Managed Funds

US 10-Year Treasury yield falls to record low LONDON: The US 10-year Treasury yield, a benchmark for borrowing costs across the globe, fell to a record low on Monday as investors sought safe-haven assets in the face of concerns about global growth.The yield touched a new low of 1.378 percent, according to Reuters data, dropping below the previous trough of 1.3810 struck in July 2012.Concerns about growth, not least as a result of Britain's vote last month to leave the European Union, and ...