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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 basis points - its highest since September 1997, before Germany joined the euro - as Bund prices soared and gilts did not follow suit to the same extent ."There were some people who were looking for a little bit of a higher number and were disappointed," said Simon Peck, gilts strategist at Royal Bank of Scotland.Gilt underperformance was likely to continue, he added."I think it's exactly right that gilts are underperforming, and will continue to ...

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 ...
Prices gain after ECB rate cuts, before US payrolls data NEW YORK: US Treasuries prices gained 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 ECB said it was setting a negative deposit rate, effectively charging banks to deposit overnight. The move, without precedent in ECB history, came in response to a slowdown in inflation, to far below the central bank's target, amid weak euro zone lending.The ...
German bonds outperform US Treasuries as ECB policy easing eyed LONDON: The two-year US Treasury note yield premium over German equivalents rose to a seven-year high on Thursday as German bonds outperformed on anticipation the ECB will ease policy later in the day.Investors have been favouring euro zone bonds over US Treasuries in recent months as the European Central Bank primed markets for aggressive policy measures to support a frail recovery, while the US Federal Reserve has been trimming its monetary stimulus. Some analysts see ...
Spain sells 3-, 5-year bonds at record low yields ahead of ECB MADRID: Spain sold 3- and 5-year bonds at record low yields at auction on Thursday, as investors prepared for a likely significant easing of European Central Bank monetary policy later in the day. The Treasury sold 4.5 billion euros ($6.1 billion), at the top end of the targeted amount. Both bonds sold for record low yields, with the 2017 bond at 0.968 percent, down from 1.039 percent when it last sold on May 8, while ...


Index Closing Chg%
Arrow DJIA 16,493.37 0.42
Arrow Nasdaq 4,352.64 0.39
Arrow S&P 1,925.15 0.29
Arrow FTSE 6,679.18 0.76
Arrow DAX 9,210.08 2.10
Arrow CAC-40 4,202.78 1.02
Arrow Nikkei 15,523.00 0.63
Arrow H.Seng 24,532.43 0.91
Arrow Sensex 25,480.84 1.60

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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