08252016Thu
Last update: Thu, 25 Aug 2016 04am

Managed Funds

Business & Finance - Managed Funds

Venezuela's PDVSA issued $831mn debt to pay providers this year CARACAS: Venezuela state oil company PDVSA has issued $831 million in promissory notes this year to repay debts to service providers, according to its latest financial statement. The notes, with an interest rate of 6.5 percent, mature in 2019, the company said in its 2015 financial statement published late on Tuesday.The exclusive operator of the South American OPEC country's vast oilfields, PDVSA has run up more than $19 billion in unpaid bills to service providers as a result of cash-flow problems, which has led some companies to slow work.PDVSA began negotiating private issuances last year to settle years-old suppliers' bills, with at least $310 million of notes in 2015 to companies including General Electric Co.PDVSA did not say which service companies were involved in the notes issued this year.But PDVSA President Eulogio del Pino said last month that the company had signed financing agreements with Halliburton Co and Weatherford International ...

Business & Finance - Managed Funds

European bond trading volumes -4pc in Q2 LONDON: European fixed income trading volumes fell in the three months to June, dragged down by slowing activity in government bond trading, bond trading platform and data provider MarketAxess said on Tuesday. Total traded volume across all assets spanning the fixed income universe was 6.802 trillion euros in the second quarter, down 4 percent from the same period a year ago, and was down 3.9 percent from the previous quarter.The number of trades also fell ...

Business & Finance - Managed Funds

JGBs slip after weak 30-year auction, rebounding stocks TOKYO: Japanese government bonds were mostly down on Tuesday as weak demand at a 30-year auction undermined already shaky sentiment against the backdrop of rebounding equities, though bargain-hunting late in the session brought yields off their highs.The Nikkei stock index ended up 2.5 percent as risk appetite recovered, lessening the appeal of safe-haven government debt.Superlong JGBs underperformed, with the 20-year yield rising 1.5 basis points to 0.065 percent, but off a session high of 0.095 ...

Business & Finance - Managed Funds

Sri Lanka launches 5.5 years bond at 5.75pc; 10 years bond at 6.825pc COLOMBO: Sri Lanka launched a $500 million, 5.5-year bond at a yield of 5.75 percent and a $1 billion, 10-year bond at 6.825 percent on Monday, to be allocated and priced shortly, a source close to the deal told Reuters. The island nation's first two-tranche bond has already received orders exceeding $4.5 billion, forcing yields lower.Citigroup, Deutsche Bank, HSBC and Standard Chartered are joint bookrunners. Last October, Sri Lanka sold a $1.5 billion 10-year bond ...

Business & Finance - Managed Funds

US 10-Year Treasury yield falls to record low LONDON: The US 10-year Treasury yield, a benchmark for borrowing costs across the globe, fell to a record low on Monday as investors sought safe-haven assets in the face of concerns about global growth.The yield touched a new low of 1.378 percent, according to Reuters data, dropping below the previous trough of 1.3810 struck in July 2012.Concerns about growth, not least as a result of Britain's vote last month to leave the European Union, and ...

Business & Finance - Managed Funds

Yield on Egypt's 5-year bond rises at Monday's auction CAIRO: Yields on Egyptian government five-year bonds rose at an auction on Monday. The average yield on the five-year bond rose to 16.520 percent from an average of 16.512 percent at the previous auction on June 20. The average yield on the ten-year bond was 17.238 percent. Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

Euro zone yields rise as focus shifts from Brexit to supply LONDON: Borrowing costs in the euro zone rose for the first time in more than a week on Monday as investors took prices down to make room for some 20 billion euros of bond supply from the region this week, halting a post-Brexit slide in yields.Austria, Germany, Spain and France are due to hold bond auctions and there is talk that Spain could also announce plans to sell new 10-year paper via a syndication to ...