02112016Thu
Last update: Thu, 11 Feb 2016 05am

Managed Funds

Business & Finance - Managed Funds

Spain hits target with 3.5bn euro triple bond sale MADRID: Spain sold 3.5 billion euros ($3.90 billion) of debt at a triple bond sale on Thursday, in line with its target as political uncertainty fails to dissuade investors in search of returns. Spain has been unable to form a government since the Dec. 20 election, with four political parties struggling to form a coalition.A strong pace of economic growth, which according to officials hit a year-on-year rhythm of 3.5 percent in January, is giving some solace to investors, however. Yields nudged up on some of the Spanish paper sold on Thursday, though a bounce in oil prices has caused similar moves across the euro zone. An inflation linked Nov. 30, 2019 bond sold 675 million euros at an average yield of -0.096 percent compared to -0.251 percent when it last auctioned Nov. 5.The bond was 2.9 times subscribed after 2.8 times previously. The April 30, 2026 bond sold 2.2 ...

Business & Finance - Managed Funds

Nigeria to issue 90bn naira bonds on Feb 10 LAGOS: Nigeria plans to raise 90 billion naira ($452.26 million) worth in local currency denominated bond at an auction on Feb. 10, the second of such this year, the Debt Management Office (DMO) said on Thursday. The debt office said it will sell 40 billion naira in paper maturing in 2020 and 50 billion naira in the debt maturing in 2026, using the Dutch Auction System, in which the price is lowered until the bond ...

Business & Finance - Managed Funds

Yields rise from one-year lows as oil, stocks gain NEW YORK: US Treasury yields ended higher on Wednesday as oil prices and stocks gained, after earlier falling to one-year lows on data that showed slowing growth in the U.S. service sector, adding to concerns about the weakening US economy.Oil prices rose 8 percent on Wednesday, snapping a two-day rout, while stocks turned positive in late day trading.The move capped a volatile day that saw benchmark 10-year note yields plunge below technical resistance to a ...

Business & Finance - Managed Funds

German five-year bond yields hit record low after failed auction LONDON: Five-year German bond yields hit a new record low on Wednesday after an auction that drew fewer bids than the amount on offer but which analysts said was not as negative as it appeared. Germany sold 3.971 billion euros of new five-year Bobl notes at what was the fifth technically uncovered auction of its kind. Technically uncovered auctions are not uncommon in Germany, where debt sales often depend on investor interest on that particular ...

Business & Finance - Managed Funds

Yields on Kenya's 182-, 364-day Treasury bills drop in auction NAIROBI: The weighted average yield on Kenya's 364-day Treasury bill slid to 13.964 percent in auction on Wednesday from 14.488 percent at last week's sale, the central bank said. The yield on the six-month bill also fell to 13.912 percent in the same sale from 14.380 percent last week. The bank sold 6.16 billion shillings ($60.30 million) worth of the one year bill and 12.07 billion shillings in the six-month bill. It had sought to ...

Business & Finance - Managed Funds

Poland to offer 4.5-7.5bn zlotys in bonds on Thursday WARSAW: Poland will offer 4.5-7.5 billion zlotys ($1.12-1.86 bln) in treasury bonds due October 2018 and July 2026 at a tender on Thursday, the finance ministry said in a statement on Tuesday. The ministry had said earlier the offer would amount to 4.0-8.0 billion zlotys. Copyright Reuters, 2016 ...

Business & Finance - Managed Funds

US 3-month bills sold at highest rate since 2008 NEW YORK: The US Treasury Department sold on Monday $37 billion of three-month bills at an interest rate of 0.350 percent, which was the highest since November 2008 and up from 0.305 percent last week, Treasury data showed.The ratio of bids to the amount offered was 3.44, up from prior week's 3.31.Meanwhile, the Treasury also auctioned $30 billion worth of six-month bills at an interest rate of 0.465 percent, which was the highest in three ...