12092016Fri
Last update: Fri, 09 Dec 2016 04pm

Managed Funds

Business & Finance - Managed Funds

Gilt yields jump after BoE ditches bias for lower interest rates LONDON: British government bond yields shot higher, reversing earlier falls in a turbulent Thursday trading session, after the Bank of England ditched its bias towards cutting interest rates further.Gilt yields had fallen sharply after a British court ruled that the government needed parliamentary approval to start the process of leaving the European Union, but the market's focus soon turned to the BoE's policy meeting.The BoE said borrowing costs could now move in either direction, as the slide in sterling following the Brexit vote prompted it to ramp up its forecasts for growth and inflation in 2017.In response, the 10-year gilt yield surged 7 basis points within a matter of minutes to hit a session peak of 1.258 percent, before settling back to 1.205 percent - up 3.5 basis points on the day.Short sterling interest rate futures fell about 3 to 4 ticks across the 2017 and 2018 contracts as remaining ...

Business & Finance - Managed Funds

Nigeria sells 99 bn naira in Treasury bills, yields mixed LAGOS: Nigeria sold 99.12 billion naira ($312 million) in short-dated treasury bills at an auction on Wednesday, with mixed yields, data from the central bank showed on Thursday. A total of 24.44 billion naira of the 3-month paper was sold at 14 percent, unchanged compared to the last auction on Oct. 19. The bank sold 21.34 billion naira of 6-month debt at 17.50 percent, versus 17.09 percent at the previous auction. It also sold 54.35 ...

Business & Finance - Managed Funds

Euro zone yields rise on Brexit ruling, US hike prospect LONDON: Euro zone government bond yields edged higher on Thursday, driven by expectations of rate rises and a court ruling on Brexit, although investors were reluctant to leave safe assets ahead of next week's US presidential election. The Federal Reserve kept interest rates unchanged on Wednesday in its last policy decision before the vote on Nov. 8, but signalled it could hike in December as the economy gathers momentum and inflation picks up. In recent ...

Business & Finance - Managed Funds

UK bond yields slide as US election unsettles markets LONDON: British government bond prices jumped on Wednesday, tracking US and German debt prices higher as markets reacted to increased uncertainty about next week's US presidential election.Ten-year gilt yields dropped more than 8 basis points on the day to a six-day low of 1.197 percent at 0821 GMT, while two-year yields fell nearly 6 basis points to 0.207 percent, their lowest since Oct. 21.The move in gilts and many other European government bonds followed a ...

Business & Finance - Managed Funds

More Asian investors buying Middle East bonds: Standard Chartered DUBAI: The proportion of Middle East bond issues going to Asian investors has roughly doubled to 30 percent in the past six to nine months, say Standard Chartered executives, evidence of growing investment links between the two regions. "We are seeing on everything from public bond issues to bank placements, up to 30 percent of the issuance is going into Asia, the majority of which would be Chinese. Normally, it would be 15 to 20 ...

Business & Finance - Managed Funds

German Bund yield on track for biggest monthly rise since Jan 2013 LONDON: German government bond yields held steady in early Monday trade, on more stable ground after a sharp sell-off last week but on track to end October with their biggest monthly rise since January 2013.Sentiment in euro zone bond markets, hit last week by a stronger tone to economic data globally, remained fragile ahead of the flash estimate of October euro zone inflation data due later in the day.Germany's 10-year Bund yield was trading at ...

Business & Finance - Managed Funds

Nigeria sells 51bn naira treasury bills, interbank rate flat LAGOS: Nigeria's central bank sold about 51 billion naira ($168 million) worth of treasury bills on Friday to mop up liquidity as the overnight lending rate traded flat around 10 percent, traders said. The bank sold 25 billion naira of 174-day open market operation bills at 18 percent and 26 billion naira of the 364-day paper at 18.5 percent at an auction of Friday. That brings the total of debt sales this week to 370.67 ...