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Irish yields hit record low on ratings lift, ECB stimulus LONDON: Irish bond yields dipped to a record low on Monday after Standard & Poor's upgraded the country's credit ratings, adding to the buoyant mood in peripheral euro zone debt triggered by fresh European Central Bank stimulus. Other peripheral euro zone bond yields also hit the latest in a series of historic lows, with Spanish 10-year yields falling below those of US Treasuries for the first time since April 2010. S&P raised Ireland's credit standing to "A-" from "BBB+" late on Friday and said it could upgrade it further if additional data confirmed the recovery of the country's economy and that fiscal deficits have fallen below 3 percent of gross domestic product. It affirmed Italy's rating at "BBB/A-2" with a negative outlook. Moody's is scheduled to review Italy's ratings on Friday. Irish 10-year yields fell 5 basis points to 2.40 percent with Spanish yields down by a similar amount at ...

Indian bonds gain for fourth straight session MUMBAI: Indian government bonds rose on Friday for a fourth straight session on continuing optimism over the central bank's dovish tone in its monetary policy review, although broader gains were capped ahead of the expected issuance of a new 10-year debt.Debt markets have rallied after the Reserve Bank of India hinted on Tuesday that it would not raise interest rates further as long as inflationary pressures continued to ease.But broader gains on Friday were capped ...
Prices gain as US jobs gains solid, European debt yields plunge NEW YORK: US Treasuries prices gained on Friday after data showed that US employers maintained a solid pace of hiring in May, with job additions coming in as economists expected, and as falling yields on European bonds made US debt relatively attractive.Nonfarm payrolls increased 217,000 last month, the Labor Department said on Friday, returning employment to its pre-recession level and offering confirmation the economy has snapped back from a winter slump. Economists polled by Reuters ...
UK gilts trade at highest premium over German debt since 1997 LONDON: British 10-year government bonds traded at their highest yield premium over equivalent German debt since the middle of 1997, after German government bond prices surged following US payrolls data.Spreads between British and German debt have been steadily widening since September last year, as traders bet that British monetary policy will tighten and the European Central Bank will loosen its monetary policy stance.A solid US payrolls number prompted the yield spread to widen to 132 ...
Portugal to hold bond auction on June 11 LISBON: Portugal will offer up to 750 million euros in government bonds next Wednesday in its second bond auction after resuming regular sales in April as it returns to market financing after exiting its international bailout.The country's debt agency IGCP said on Friday it will offer between 500 million euros and 750 million euros in 5.65 percent February 2024 bonds on June 11. Portugal sold 750 million euros ($1.04 billion) in 10-year bonds on April ...
Bulgaria approves 1.49-bn-euro bond issue SOFIA: Bulgaria is to raise nearly one and a half billion euros on the bond market to repay debt and finance the budget, parliament agreed on Friday.The decision came amid political uncertainty in the country -- the poorest in the European Union.Parliament approved the issue of bonds to raise 1.49 billion euros ($2.04 billion) to refinance maturing debt and cover the budget deficit.The move comes amid concerns about political instability, since the technocrat government's two ...
Yields rise in choppy trading after ECB cuts rates NEW YORK: US Treasuries yields rose on Thursday in choppy trading after the European Central Bank cut interest rates to record lows and announced new measures meant to help stimulate the region's economy.The cut, the first time the ECB has deployed a negative deposit rate which effectively charges banks to deposit overnight, was a response to a slowdown in inflation far below the ECB's target and to weak euro zone lending.The ECB added that it ...


Index Closing Chg%
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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln