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India starts to develop yield curve as trading shifts from 10-year bonds MUMBAI: Indian government bond markets are experiencing a rare sight: a yield curve driven by strong investor buying in maturities other than the traditional benchmark 10-year government bond.Driving the buying in non-10-year Indian debt is the prospects of an economic recovery and a commitment by the governor of the central bank, Raghuram Rajan, to lower inflation.But whether this trend continues will depend on the central bank - how it chooses to raise debt to fund the country's fiscal deficit, analysts say.The central bank will have to nurture the market by issuing debt strategically to build liquidity outside of the 10-year bond.Ten-year bonds have long been the easiest for the RBI to sell because they are popular with banks due to higher liquidity and their ease of trading.Demand for Indian bonds has been strong this year among foreign investors, attracted by the higher returns on Indian bonds against other emerging market ...


Goldman Sachs launches $500mn, 5-year sukuk; pricing at tight end DUBAI: Goldman Sachs has launched a $500 million, five-year debut Islamic bond offer that will price later on Tuesday, with pricing at the tight end of guidance.The investment bank set the transaction to price at a spread of 90 basis points over midswaps, a document from lead arrangers showed, at the lower end of its revised guidance of between 90 and 95 bps. Initial guidance was in the area of 95 bps.Investor orders grew to ...

German ZEW, OECD outlook tip Bund yields back below 1pc LONDON: German 10-year yields fell back below 1 percent on Tuesday as data showed investor morale hit its lowest in nearly two years in September, suggesting tensions between Russia and the West had hit Europe's largest economy.Adding to the grim growth outlook, the OECD on Monday revised downward its global growth forecasts for major developed economies, including the euro zone, and urged more aggressive European Central Bank stimulus to ward off deflation in the currency ...

German yields dip back below 1 pct before German sentiment survey LONDON: German 10-year yields fell back below 1 percent on Tuesday ahead of a German survey expected to show investor confidence in the region's biggest economist remained downbeat, underlining the impact of ECB's ultra-easy policy stance. Adding pressure on the European Central Bank, the OECD on Monday revised its global growth forecasts for major developed economies downward and urged more aggressive ECB stimulus to ward off deflation in the currency bloc.Price moves were, however, expected ...

China issues yuan bonds in Paris for first time PARIS: China took a new step towards international use of its currency, the yuan, on Monday when it successfully launched yuan-based bonds in Paris for the first time.The bonds, intended to raise 2.0 billion yuan (240 million euros, $310 million) were issued by the state-owned Bank of China.The issue attracted a strong level of interest, and demand amounted to 3.65 times the amount offered, the president of the central bank Tian Guoli said at a ...

Greek bond yields dip after rating boost, Irish supply eyed LONDON: Greek bond yields edged lower on Monday after a credit rating upgrade from Standard & Poor's, which said the country remained on track to emerge from a six-year recession.The upgrade to B from B- late on Friday is a boost for Greece's fragile coalition government, which is hoping to escape the constraints of its EU/IMF bailout programme.Greece is expected to hold negotiations with its lenders on further debt relief later this year, and Prime ...

Indian bond yields end flat despite fall in WPI, CPI; Fed in focus MUMBAI: Indian government bond yields ended steady on Monday as caution prevailed ahead of the upcoming US Federal Reserve meeting, but yields were down for much of the session after a sharp decline in wholesale price inflation rate and core retail inflation data.India's wholesale price inflation eased to its lowest level in nearly five years in August, but the central bank is likely to keep interest rates on hold later this month to prevent a ...


 



 
Index Closing Chg%
Arrow DJIA 17,390.52 1.13
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln