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Spain/German yield spread hits widest in euro era  LONDON: The risk premium on Spanish 10-year government bonds rose to a euro-era high on Friday driven by the market's gloomy assessment of whether the country can avoid asking international lenders for a bailout. The Spanish/German 10-year government bond yield spread rose to 595 basis points versus 582 bps at Thursday's settlement close. Traders said there were no large selling flows behind the move which was exaggerated by a thin market, but reflected the prevailing view that Spain's banking bailout was just the first step to asking for a full-blown aid package. Bund futures rose to a session high of 145.65, up half a point on the day, pushing German yields lower and also driving the gap between German and Spanish yields wider. "There's a bias for safe haven debt in a very thin market, triple-A countries are performing very well," one trader said. "It's a typical Friday move - Don't be short (of ...

Shaky Spanish auction pushes yields above 7pc  LONDON: Spain's fragile grip on its fiscal independence looked ever more in doubt on Thursday after meagre demand at a bond auction pushed benchmark yields back above 7 percent, intensifying doubts over whether Madrid can avoid a full-blown bailout. Appetite at a sale of two-, five- and seven-year bonds was sufficient to ensure Spain sold all the debt it needed, but the difference between the lowest and the average bid was relatively wide, reflecting badly on ...

South Africa bond yields hit record low on rate cut  JOHANNESBURG: South African government bond yields fell to record lows and the rand weakened against the dollar on Thursday after the Reserve Bank cut its key lending rate, sounding a dovish tone on inflation and trimming its economic growth forecasts. The Reserve Bank cut its key lending rate by 50 basis points to 5.0 percent, surprising the market. Only two out of 23 economists polled by Reuters had anticipated the cut. Yields on the front end of ...

Bank of Canada to auction C$3bn 27-day T-bills  TORONTO: The Bank of Canada said on Thursday it plans to sell C$3 billion ($2.97 billion) of 27-day treasury bills in a cash management auction on July 20. Copyright Reuters, 2012

Indian bond yields rise ahead of auction; policy reforms eyed  MUMBAI: Indian federal bond yields rose slightly on Thursday ahead of a debt auction at the end of the week, though hopes for policy reforms after presidential elections and improving liquidity are keeping debt prices supported. Bond investors are hoping the government will announce substantial policy reforms after elections for the ceremonial role of president concluded on Thursday. Policy reforms, including hiking diesel prices to cut the government's subsidy burden or opening sectors such as retail to ...

Spain 5-year borrowing costs hit highest since 1996  MADRID: Spain's five-year borrowing costs hit new euro-era highs at an auction on Thursday, sending the euro lower, as it struggles to convince investors it can control its finances, while France sold bonds of similar maturities at yields below 1 percent. The yield on Spain's July 2017 bond rose to 6.459 percent, up from 6.072 percent when it was last sold just a month ago and the most Madrid has paid to borrow at that maturity ...

Poland to offer PLN 1.0bn in 2 year bonds at top-up  WARSAW: Poland will offer 1.0 billion zlotys ($294.60 million) in zero-coupon bonds maturing in July 2014 at a top-up tender on Thursday, the finance ministry said. At the primary tender the ministry has successfully placed 4.84 billion zlotys of the paper. Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,729.17 0.03
Arrow DAX 9,915.56 0.55
Arrow CAC-40 4,373.42 0.20
Arrow Nikkei 17,383.58 0.14
Arrow H.Seng 24,111.98 1.12
Arrow Sensex 28,386.19 0.17

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln