12082016Thu
Last update: Thu, 08 Dec 2016 05am

Managed Funds

Business & Finance - Managed Funds

Gilt yields hit post-Brexit highs after UK GDP data, sterling drops LONDON: British gilt yields surged to a post-Brexit peak on Thursday, after data showed the economy had grown faster than expected in the third quarter, reducing the chances of an interest rate cut in the near term.The benchmark 10-year gilt yield rose 10 basis points to 1.27 percent, the highest since the Brexit vote in June, dragging other European government bond yields higher. It did little, however, to lift sterling, which fell against both the dollar and the euro.British gross domestic product expanded by 0.5 percent in the July-September period, less rapid than the unusually strong growth of 0.7 percent seen in the second quarter but comfortably above a median forecast of 0.3 percent in a Reuters poll of economists. Compared with the third quarter of last year, growth picked up to 2.3 percent, the strongest pace in more than a year, according to the preliminary figures from the Office ...

Business & Finance - Managed Funds

Austria joins ultra-long bond foray with first 70-year issue LONDON: Austria's government borrowing costs pushed towards 16-month highs on Tuesday as the country sold a 70-year bond, the longest debt issued publicly by a euro zone government. Vienna has gathered over 5 billion euros of investor interest in the bond, banks running the deal said on Tuesday, as well as nearly 5 billion euros more on a new seven-year bond it is also selling.Yields on outstanding bonds tend to rise ahead of debt sales ...

Business & Finance - Managed Funds

UK 2065 gilt syndication draws over 15bn stg in orders LONDON: Investors have placed orders totalling more than 15 billion pounds ($18.3 billion) for a British government bond maturing in July 2065 since books opened at 0800 GMT on Tuesday, one of the bookrunners on the deal said.Price guidance for the 2.5 percent 2065 bond was unchanged at 0.0-0.25 basis points above the 50-year benchmark gilt, which matures in July 2068, and books on the deal are expected to close at 0900 GMT.Barclays, Lloyds, Nomura ...

Business & Finance - Managed Funds

Portugal passes key ratings test, Spain's yields fall on politics LONDON: Portugal's borrowing costs tumbled to six-week lows on Monday after it passed a crucial ratings test, while yields in neighbouring Spain fell sharply on signs that 10 months of political deadlock may be near an end. Ratings agency DBRS maintained its BBB (low) rating with a stable outlook for Portugal late on Friday, maintaining the investment-grade rank the country needs to keep its position in the ECB's massive bond-buying programme. That sparked a relief ...

Business & Finance - Managed Funds

Vietcombank to sell non-convertible bonds worth about $90mn HANOI: Vietnamese lender Vietcombank has secured approval to sell non-convertible bonds worth 2 trillion dong ($89.6 million) at par value, the State Securities Commission (SSC) said in a statement on the Ho Chi Minh Stock Exchange on Monday. Vietcombank, Vietnam's largest lender by market value, will be able to sell 20 million of the bonds to the public by late January 2017, SSC said.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Romania sells 500mn lei of Dec. 2022 treasury bonds BUCHAREST: Romania sold a planned 500 million lei ($120.90 million) worth of Dec. 2022 treasury bonds on Monday, with the average accepted yield at 2.65 percent, central bank data showed.Debt managers last sold the paper in September at an average yield of 2.53 percent.So far this year, the ministry has sold roughly 40.5 billion lei and 775 million euros of domestic bonds.Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Portugal's bond yields near six-week lows ahead of ratings test LONDON: Portugal's government bond yields held just above six-week lows on Friday, with analysts expecting Lisbon to survive a crucial ratings review and keep its place in the European Central Bank's asset purchase scheme. Canadian ratings firm DBRS will review Lisbon's last investment-grade rating after markets close. ECB President Mario Draghi confirmed on Thursday that if the country were downgraded it would fall out of the quantitative easing programme.As the rules dictate Portugal must be ...