12062016Tue
Last update: Tue, 06 Dec 2016 05am

Markets - Fixed Income

Markets - Fixed Income - Australia

Australia pension fund Hostplus upbeat on credit, shuns govt bonds SYDNEY: Australian pension fund Hostplus is keen to invest in credit, property and infrastructure, but sees no value in sovereign bonds, its chief executive said on Friday. David Elia, CEO of Hostplus which manages A$22 billion ($16 billion) of assets, said the balanced fund's credit exposure rose to 6 percent from none in 2009, but it holds no sovereign bonds.Elia is particularly keen to lend directly to middle-market companies in the United States and Europe in the face of tighter bank lending standards after the global financial crisis.Hostplus is also keen to invest in unlisted infrastructure and real estate assets, which combined account for around a quarter of the portfolio, due to the fund's strong tolerance of illiquid assets.The chief executive, however, has little patience for fees charged by some external fund managers, having recently ended a 12-year-old partnership with a US hedge fund because of weak returns."Private equity managers ...

Markets - Fixed Income - Middle East & Africa

Yields rise at Egypt six-month, one-year T-bond auction CAIRO: The average yields on Egyptian six-month and one-year treasury bills rose at an auction on Thursday, central bank data showed. The 182-day treasury bills rose to 18.258 percent from 17.716 percent at the previous auction, and the yield for the 364-day treasury bills rose to 18.034 percent from 17.606 percent in a similar auction. Copyright Reuters, 2016

Markets - Fixed Income - Europe

Romania sells 711mn lei of 364-day treasury bills BUCHAREST: Romania sold a lower than planned 711 million lei ($166.85 million) worth of 364-day treasury bills, at an average accepted yield of 0.84 percent on Thursday, central bank data showed. Debt managers, who had planned to sell 800 million lei, last sold similar maturity paper in October at an average yield of 0.6 percent. On Thursday, bids totalled 966 million lei.So far this year, the ministry has sold roughly 42.9 billion lei and 775 ...

Markets - Fixed Income - Asia

JGBs slip, super-long bond yields hit 8-month high TOKYO: Japanese Government bonds sagged on Thursday, with the 20- and 30-year bond yields hitting eight-month highs, following a retreat in U.S. Treasuries and on caution ahead of a 40-year JGB auction.Long-dated JGBs came under pressure as a sell-off in U.S. Treasuries showed no sign of abating, with the 10-year U.S. yield hitting a 16-month high.U.S. bonds have been sold on the expectation that U.S. President-elect Donald Trump's policies may boost fiscal spending and lift ...

Markets - Fixed Income - Americas

Yields fall from highs as funds flock to 7-year auction NEW YORK: US Treasury yields fell from multiyear highs on Wednesday after the Treasury Department saw very strong demand for an auction of seven-year notes, and after minutes from the Federal Reserve's November meeting contained no large surprises.The Treasury sold $28 billion of seven-year notes at a high yield of 2.215 percent, around two basis points below where they traded before the auction. Indirect bidders, which includes fund managers and some central banks, took a ...

Markets - Fixed Income - Europe

Gilt yields soar as market digests Brexit borrowing glut LONDON: Long-dated gilt yields rocketed on Wednesday after British finance minister Philip Hammond ramped up his forecasts for government borrowing in Britain's first budget update to count the cost of voting to leave the European Union.Britain will need to borrow 122 billion pounds ($151 billion) more over the next five years than it expected before June's Brexit vote, Hammond said.To cope with the higher borrowing, the UK Debt Management Office announced the biggest mid-year increase ...

Markets - Fixed Income - Middle East & Africa

South Africa's Treasury says supports minimum wage recommendation JOHANNESBURG: South Africa's Treasury said on Wednesday it supported the report by a government-appointed advisory panel that suggested a national minimum wage of 3,500 rand ($245) per month, throwing its political weight behind the policy initiative. "The report represents ... an important milestone in our government's efforts over the years in this regard," Finance Minister Pravin Gordhan was quoted as saying in a statement.Supporters of a minimum wage say it can stimulate growth as workers ...