07282016Thu
Last update: Thu, 28 Jul 2016 03am

Markets - Fixed Income

Markets - Fixed Income - Americas

JP Morgan announces new 10-year bond, Rabo brings sub NEW YORK: JP Morgan on Thursday announced a new 10-year benchmark US dollar bond, shortly after releasing strong second-quarter earnings that boosted US equity indexes. Sources told IFR that initial price thoughts on the self-led deal were heard in the range of US Treasuries plus 145bp-150bp, with proceeds to be used for general corporate purposes.The senior unsecured notes will be issued at the holding company level of JP Morgan (A3/A-), the largest US bank by assets.At IPTs, the deal offered a premium of around 10bp-15bp over JPM's 3.3% April 2026s, which were trading in the low 130bp area before the deal was announced.An investor following the deal said while that was not a particularly generous premium, the strength of demand for US credit and the strength of JPM's results should ensure success."They're the first bank to issue for a while and they had a solid quarter - it should do ...

Markets - Fixed Income - Americas

Canada new housing prices grow at fastest pace in nearly 9 years OTTAWA: Canadian new home prices in May grew at their fastest pace in almost nine years, soaring 0.7 percent from April on strength in the booming markets of Toronto and Vancouver, Statistics Canada said on Thursday. Analysts polled by Reuters had predicted a 0.2 percent advance. May's increase was the largest since the 1.0 percent jump recorded in July 2007.The Liberal government is concerned about rapidly rising prices in Toronto and Vancouver and is mulling ...

Markets - Fixed Income - Americas

US TIPS breakeven rates hit post-Brexit highs NEW YORK: The US bond market's gauge on investors' inflation expectations rose on Thursday to its highest levels since Britain's vote to leave the European Union three weeks ago after stronger-than-expected data on US producer prices in June. The yield difference between regular 10-year Treasury notes and 10-year Treasury Inflation Protected Securities grew to 1.51 percent, up 4 basis points from Wednesday, according to Tradeweb.Copyright Reuters, 2016

Markets - Fixed Income - Europe

German 10-year Bund yield turns negative for first time at auction BERLIN: Germany's 10-year government bond yield turned negative for the first time at an auction on Wednesday, fetching the lowest average real yield at auction on record for such paper at -0.05 percent, the debt office said.The German Finance Agency, the federal government's debt management office, sold 4.038 billion euros ($4.47 billion) of its new 0.00 percent, 10-year Bund at the lowest price of 100.48 with a bid-to-cover ratio of 1.2."It's the first time that ...

Markets - Fixed Income - Europe

Henderson property fund manager puts London HQ of Coutts bank up for sale LONDON: The manager of fund firm Henderson Global Investors' frozen UK property fund has put the London headquarters of British private bank Coutts up for sale, a source familiar with the matter said on Tuesday. The Henderson 3.9 billion pound ($5.13 billion) UK PAIF Property and PAIF Feeder Fund is one of seven UK property funds that have suspended trading in order to control redemptions by retail investors following Britain's vote to leave the European ...

Markets - Fixed Income - Asia

Indian bonds rally ahead of CPI data, central bank governor announcement NEW DELHI: Indian government bonds rallied on Tuesday, with the benchmark 10-year yields at over three-year lows, as investors bet on benign inflation data later in the day and awaited a government announcement on the next central bank governor.The rally also tracked gains in emerging markets this week on a combination of upbeat U.S. data, expectations of more stimulus from global policymakers, and global investors seeking higher returns.Foreign investors bought a net $76 million worth ...

Markets - Fixed Income - Americas

Bids for US T-bills weakest since 2009 NEW YORK: Demand at the latest auctions of US three-month and six-month Treasury bills on Monday fell to its lowest level in about seven years due to increased supply and relatively low interest rates they offered in investors. The ratio of bids to the amount of three-month Treasury bills offered was 2.98, which was the weakest since July 2009, while this gauge of demand at the six-month T-bill auction was 3.07, the lowest since June ...