07282016Thu
Last update: Thu, 28 Jul 2016 09pm

Managed Funds

Business & Finance - Managed Funds

China's Bohai steel says has paid interest on bonds due 2017 HONG KONG: China's Bohai Steel Group said it had paid the coupon on its yuan-denominated bonds, which was due on Wednesday, and gave assurance that it had sufficient funds to pay the coupon on dollar bonds due for payment on June 17. The 6.4 percent coupon is on its 1.5 billion yuan bond .China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel and coal, to make the economy more efficient and address a supply glut that has hammered coal and steel prices. Earlier this year, the city government of Tianjin, which owns Bohai Steel, set up a creditor committee after signs it might struggle to fully repay 192 billion yuan ($29.64 billion) of debt, according to a report in financial magazine Caixin. Bohai Steel Group Co Ltd, a steelmaker based in northeast China has a $100 million bond due 2018 ...

Business & Finance - Managed Funds

Neighbour Ireland feels Brexit tremors in bond market LONDON: The premium Ireland would pay to borrow compared with euro zone benchmark Germany hit its highest level in nearly a year on Tuesday as investors fretted about the economic impact on Dublin of a potential British exit from the European Union. The gap between Irish and German 10-year bond yields widened to 88 basis points in early trade, the highest since July 2015, according to Tradeweb. Britain holds a referendum on its EU membership ...

Business & Finance - Managed Funds

Greece rolls over 3-month T-bills, yield steady ATHENS: Greece sold 1.3 billion euros ($1.46 billion) of three-month T-bills to refinance a maturing issue, the country's debt agency PDMA said on Wednesday. The debt agency sold the new three-month paper at a yield of 2.70 percent, unchanged from a previous auction earlier this month. The amount raised included 300 million euros in non-competitive bids. The sale's bid-to-cover ratio was 1.30.In a rollover, T-bill holders renew their positions instead of getting paid on the ...

Business & Finance - Managed Funds

Tumbling yields mean ECB has just months left for German bond buys LONDON: A slide in German bond yields into negative territory means the European Central Bank risks running out of German debt to buy for its asset-purchase programme within months unless it eases its own restrictions on purchases. These rules bar the ECB from buying bonds yielding less than its deposit rate of -0.40 percent, putting around half of the eligible 800 billion euros of German bonds on its shopping list out of reach. The central ...

Business & Finance - Managed Funds

US yields pare losses after strong retail sales data NEW YORK: US Treasury yields pared their losses on Tuesday after the release of a stronger-than-expected US retail sales report that suggested economic growth was picking up despite the recent a slowdown in job creation.Data on Tuesday also showed the largest increase in four years in US import prices. The import prices and retail sales data showed the US economy may be regaining its footing and reduced demand for safe-haven government bonds.Global bond yields continued ...

Business & Finance - Managed Funds

Norwegian high-yield bond market reopening raises revival hopes OSLO: A reawakening of Norwegian high-yield corporate bonds has raised hopes of an eventual resurgence for the multi-billion dollar market, which has dried up as the oil industry grapples with lower prices.Although defaults by supply ship and drilling rig operators in the oil-rich country are set to hit some investors, there are signs others are again willing to buy bonds offering higher returns for more risk.This interest is due to a rise in oil prices, ...

Business & Finance - Managed Funds

Belgian short-term debt yields hit new record low at auction BRUSSELS: Belgium sold 1.895 billion euros ($2.12 billion) of short-term debt on Tuesday, with yields on three-month and one-year treasury bills falling further below zero to new record lows, the country's debt agency said. Three-month paper sold for a negative yield of 0.515 percent, down from the minus 0.508 percent at the most recent auction two weeks ago.Investors also paid, rather than received, interest on one-year paper, with yields falling to minus 0.493 percent from ...