07012016Fri
Last update: Fri, 01 Jul 2016 01pm

Managed Funds

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 10-year yield, the euro zone benchmark, hit a record low of 0.034 percent on Thursday. It has edged closer to zero on uncertainty before Britain's June 23 referendum on EU membership."If there were no Brexit fears then the Bund yield may be closer to 0.20 percent, all else being equal," said Peter Chatwell, head of euro rates strategy at Mizuho. Uncertainty about the referendum's outcome, which polls suggest is too close to call, has lifted ...

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 ...

Business & Finance - Managed Funds

German 10-year bund yield hits new record low LONDON: The yield on Germany's 10-year government bond fell on Wednesday to a new record low below 0.04 percent, according to Tradeweb data.The yield, the benchmark for euro zone borrowing costs, fell as far as 0.035 percent, down 1.5 basis points on the day."We are a few basis points away from negative territory and given the Brexit vote later this month, that may give it a final push, it is quite likely we will over ...