08292016Mon
Last update: Mon, 29 Aug 2016 05pm

Managed Funds

Business & Finance - Managed Funds

Britain's 10-year borrowing costs soar as global bond yields surge LONDON: A global surge in bond yields prompted the biggest rise in British 10-year borrowing costs since June's Brexit vote, while an auction of a new six-year gilt with a record-low coupon drew strong demand on Tuesday.The 10-year gilt yield struck a session high of 0.842 percent and was last at 0.81 percent, up 8 basis points on the day - the biggest daily increase since June 20, three days before the vote to leave the European Union. Gilt yields were hauled higher by Japanese equivalents as investors started to fret about Toyko's apparent shift from monetary easing towards fiscal stimulus, sending major government bond yields higher across the world. Japanese Prime Minister Shinzo Abe's cabinet approved billions of dollars in fiscal measures on Tuesday as the central bank fought market speculation that it is preparing to slow the pace of its monetary stimulus."Gilt (prices) have taken quite a knock ...

Business & Finance - Managed Funds

US Treasury to borrow $201 billion in July-September quarter WASHINGTON: The US Treasury Department said on Monday it expects to borrow $201 billion in net marketable debt in the July-September quarter, about $47 billion higher than its estimate in May, due to lower anticipated receipts and an increased cash balance on Sept. 30. The Treasury said it expects to end the quarter with a $350 billion cash balance, up from the previous estimate of $300 billion. During the October-December quarter, the department said it ...

Business & Finance - Managed Funds

Italian yields hit 17-month low on Monte dei Paschi rescue plan LONDON: Italy's government borrowing costs touched a 17-month low on Monday after its third largest bank unveiled a privately-backed rescue plan to prevent it from being wound up by regulators. Monte dei Paschi announced the plan less than an hour before European banking regulators revealed the results of their stress tests late on Friday which predicted that the lender's capital buffers would be entirely wiped out if there was a severe economic downturn.The solution should ...

Business & Finance - Managed Funds

France to sell up to 6.75bn euros bonds at Thursday auction PARIS: France will sell up to 6.75 billion euros ($7.49 billion) of long-term and inflation-linked bonds at a bond auction on Thursday, the Agence France Tresor public debt management agency said on Thursday. AFT said it aimed to sell 5-6 billion euros of fixed-rate long-term bonds and 500-750 million euros of inflation-index bonds.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

US bond market rallies as Fed holds rates steady NEW YORK: US Treasury prices rose on Wednesday after the Federal Reserve, as expected, left policy rates unchanged and offered no hint it was in a rush to raise them even as it acknowledged fewer near-term risks in its outlook on the US economy.The Fed's latest policy statement spurred traders to favor longer-dated bonds over shorter-dated issues in the form of curve-flattening trades.More bullish bets on 10-year and 30-year Treasuries sent their yields to 1-1/2 ...

Business & Finance - Managed Funds

US bond prices rise on weak data before FOMC NEW YORK: A disappointing report on durable goods orders in June lifted US Treasury prices on Wednesday as investors awaited possible clues on an interest rate increase from the Federal Reserve at the conclusion of its two-day meeting.A steeper-than-forecast 4 percent drop in demand for airplanes and other big-ticket items revived worries about the domestic manufacturing sector and reinforced the notion the Federal Open Market Committee, the US central bank's policy-setting group, would leave its ...

Business & Finance - Managed Funds

JGBs mostly rise on hopes of further BOJ easing steps TOKYO: Japanese government bonds mostly rose on Wednesday, with the 2- and 5-year yields falling to record lows on expectations that the Bank of Japan will further ease policy at its meeting later this week. The five-year yield fell 3.5 basis points to a record low of minus 0.380 percent.The two-year yield also shed 3.5 basis points to a record low of minus 0.370 percent.The 10-year JGB yield fell 3.5 basis points to minus 0.295 ...