01202017Fri
Last update: Fri, 20 Jan 2017 08pm

Markets - Fixed Income

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 can spend more while reducing inequality. Critics say it could lead to increased unemployment as employers will be unable to afford higher wage bills. Copyright Reuters, 2016

Markets - Fixed Income - Americas

US Treasury reassures Brazil banks trade with Iran OK BRASILIA: The US Treasury has reassured Brazilian banks they can finance trade with Iran without fear of sanctions, opening the way to billions of dollars in potential exports of jet planes, buses and equipment, a senior Brazilian official said on Wednesday.Sanctions on non-US entities doing business with Iranian companies were lifted with implementation in January of the nuclear accord with Iran, but Brazilian banks remained worried they could still face repercussions, said Rodrigo Azeredo, Brazil's ...

Markets - Fixed Income - Europe

German two-year bond yield at record low on scarcity fears LONDON: Germany's two-year government bond yield hit a record low on Wednesday on expectations that the European Central Bank will extend its asset purchase programme beyond March 2017, exacerbating the scarcity of tradable bonds. The two-year German government bond, or "Schatz", dropped to minus 0.75 percent, having dipped below minus 0.70 percent for the first time in months on Tuesday.ING attributed the move to increasing collateral scarcity as short-dated German government bonds are often posted ...

Markets - Fixed Income - Europe

Portugal 5-year borrowing costs rise in last auction of 2016 LISBON: Portugal's five-year borrowing costs rose on Wednesday in the last bond auction of the year following a wider sell-off in the global bond market in the aftermath of the US presidential election. State debt agency IGCP sold 700 million euros ($742.91 million) worth of bonds maturing in April 2021, just below the upper band of its offer range of between 500 million and 750 million euros.The allotment yield rose to 2.112 percent from 1.751 ...

Markets - Fixed Income - Europe

Euro zone bond yields rise on report ECB will act to reduce scarcity LONDON: Germany's two-year bond yields rose on Wednesday after a report that the European Central Bank is looking to lend out more bonds to avert a market freeze.The two-year Schatz yield shot up 6 basis points from the day's lows to minus 0.69 percent, having hit a record low earlier in the day. Other euro zone bond yields also rose, reversing earlier falls.Reuters reported sources as saying the ECB is looking for ways to lend ...

Markets - Fixed Income - Middle East & Africa

Nigeria to raise 117bn naira treasury bills at auction LAGOS: Nigeria plans to sell 117.17 billion naira ($371.97 million) in short-dated treasury bills at an auction on Nov 30, the central bank said on Tuesday. The bank said it will sell 45.85 billion naira in three-month papers, 18 billion naira in six-month bills and 53.32 billion naira in one-year bills. Payment for the purchases would be made on Thursday. Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb ...

Markets - Fixed Income - Europe

Monte dei Paschi's bonds targeted by swap offer fall sharply MILAN: Bonds by Monte dei Paschi targeted by a debt-to-equity conversion offer fell sharply on Monday as retail investors worried about the future of Italy's third-largest bank. The debt swap is part of a 5 billion euro ($5.3 billion)rescue plan aimed at staving off the risk of being wound down.Shares in the lender fell 4 percent on Monday hit by the prospect of a Dec. 4 referendum vote in Italy that may prompt Prime Minister ...