06272016Mon
Last update: Mon, 27 Jun 2016 08am

Managed Funds

Business & Finance - Managed Funds

UK gilt yields hit new all-time low in global bonds rally LONDON: British gilt yields struck a new all-time low on Thursday, dragged down by a rally in global government bonds as investors around the world dumped equities in a nervy market and by the approach of Britain's European Union membership referendum.The 10-year gilt yield fell to 1.224 percent, the lowest level since records began. It was last at 1.24 percent, down one basis point on the day. The equivalent German Bund yield also fell to a record low as investors bought bonds, spurred by renewed doubts about the outlook for US interest rates and Britain's EU vote which takes place in two weeks' time. Jason Simpson, fixed income strategist at Societe Generale, said gilt yields could fall further. "The backdrop for gilts has been constructive: economic data hasn't been great and there's a pause in issuance until early July," he said. "As Bund yields get squeezed lower, people have been ...

Business & Finance - Managed Funds

Bund yields would be at least 0.2 percent without Brexit risk LONDON: Germany's 10-year Bund yield would be between 0.2 and 0.5 percent without the risk that Britons could vote this month to leave the European Union, instead of at current levels below 0.05 percent, analysts calculate. According to Mizuho, the recent spike in three-month sterling/dollar implied volatility -- a measure of how sharp swings in the exchange rate will be -- is suppressing Bund yields by around 15 basis points, compared with historic norms. Germany's ...

Business & Finance - Managed Funds

Egypt to issue $700mn in US dollar denominated one-year treasury bill on June 14 CAIRO: Egypt's Finance Ministry will issue $700 million in one-year dollar-denominated treasury bills to local banks and foreign financial institutions on June 14, the central bank said in a statement on Thursday. The auction deadline is June 13 and the maturity date for the issuance is June 13,2017, the statement said. The government has turned mainly to the local money market to finance its public deficit since a popular uprising in early 2011 that deterred ...

Business & Finance - Managed Funds

Nordic Investment Bank launches 500mn euro green bond LONDON: The Nordic Investment Bank said on Thursday it had launched an eight-year 500 million euro ($567 million) green bond to help to finance environmental projects. The proceeds from so-called green bonds help to pay for projects relating to renewable energy, energy-efficiency, green transport and wastewater treatment.This is second green bond in euros by the Nordic Investment Bank, which provides funding for projects in the Nordic and Baltic countries.The bond attracted strong interest from investors ...

Business & Finance - Managed Funds

German Bund yield at new record low, test of zero looms LONDON: Germany's 10-year Bund yield hit a new record low on Thursday, pushing closer to negative territory as a rally in global bond markets gathered pace. A scaling back of expectations for a near-term rise in US interest rates and heightened political risks, for instance from this month's UK referendum on European Union membership and Spanish election re-run, have bolstered demand for safe-haven bonds.US 10-year Treasury yields fell to their lowest level since February, while ...

Business & Finance - Managed Funds

German Bund yields near record lows, test of zero looms LONDON: Germany's 10-year bond yield fell towards record lows on Thursday, with a firm tone in the U.S. Treasury market keeping Bund yields close to zero.A strong auction of 10-year U.S. bonds on Wednesday gave the Treasury market a boost, helping send 10-year U.S. yields to 1.675 percent early on Thursday - their lowest level since February.That helped underpin German bond yields, which have been creeping closer towards zero this week against a backdrop of ...

Business & Finance - Managed Funds

ECB pours cash into company bonds to boost eurozone BERLIN: The European Central Bank on Wednesday took the unprecedented step of buying corporate bonds, its latest weapon in a desperate battle to kick-start sluggish growth and inflation in the eurozone.Having already slashed interest rates to below zero and pumped massive amounts of cash into financial markets, it started to directly finance businesses by buying their debt in the bond market.In the first major trades, the ECB bought millions of euros worth of bonds of ...