09282016Wed
Last update: Wed, 28 Sep 2016 06am

Americas

Markets - Fixed Income - Americas

Bids at US 5-year note sale weakest in 7 years NEW YORK: The latest US five-year Treasury note auction drew the lowest overall bidding in seven years on Tuesday as some investors refrained from purchases as Federal Reserve policy makers were meeting. The five-year Treasury sale followed a poor $26 billion two-year note auction on Monday. The Treasury will complete this week's coupon-bearing supply sale with a $28 billion seven-year debt auction on Thursday.The ratio of bids to the $34 billion five-year debt offered was 2.27, down from 2.29 at the previous five-year auction in June.The bid-to-cover ratio, which measures auction demand, was the weakest since 1.93 in July 2009. Investors have been reluctant to bid for Treasuries in case Fed policy makers at the conclusion of their meeting on Wednesday hint at a rate increase sooner than anticipated, analysts said. Fund managers, foreign central banks and other direct bidders bought 53.64 percent of the five-year note supply, down from ...

Markets - Fixed Income - Americas

US Treasury sees forex markets in line with fundamentals WASHINGTON: The US Treasury believes foreign exchange markets are behaving largely in line with underlying economic fundamentals ahead of a meeting this week of Group of 20 finance ministers and central bank governors, a senior Treasury official said on Monday. US Treasury Secretary Jack Lew will nonetheless still emphasize the need for the world's biggest economies to avoid competitive currency devaluations at the meeting in Chengdu, China, the official told reporters on a conference call. ...

Markets - Fixed Income - Americas

US TIPS breakeven rates hold losses after CPI NEW YORK: The US bond market's gauge on investors' inflation expectations held its earlier decline on Friday as the 0.2 percent increase in the consumer price index in June fell short of analysts' forecasts. The yield difference between regular five-year Treasury notes and five-year Treasury Inflation Protected Securities narrowed by nearly 1 basis point to 1.45 percent, according to Tradeweb.Copyright Reuters, 2016 ...

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 ...

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 - 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 ...