06012016Wed
Last update: Wed, 01 Jun 2016 12am

Americas

Markets - Fixed Income - Americas

Wall Street watchdog's board approves bond-markup rules The Financial Industry Regulatory Authority's board of governors has approved a plan that would require brokerage firms to disclose how much they mark up the price of most bonds they sell to retail customers, the Wall Street watchdog said on Friday.FINRA's controversial plan is similar to a parallel proposal by the Municipal Securities Rulemaking Board (MSRB), which regulates municipal advisers and bond dealers. The joint plan aims to help the public assess the reasonableness of prices charged by brokers for corporate and municipal bonds.Approval by FINRA's board of governors allows the Wall Street watchdog to submit the plan to the U.S. Securities and Exchange Commission, which must review and approve FINRA's rules.Unlike stocks that have a price publicly available on an exchange, individual dealers determine the price at which they sell or buy bonds.The parallel rules proposed by FINRA and MSRB, unveiled in 2014, would apply to corporate and municipal ...

Markets - Fixed Income - Americas

Yields fall as global growth concerns weigh NEW YORK: US Treasury yields fell on Thursday as investors remained cautious on the outlook for global growth, with yields also undergoing a sharp, if brief, drop after the government postponed its seven-year note auction.Treasuries have largely followed oil moves as tumbling prices this year have stoked concerns about slowing global growth and the efficacy of central bank policies meant to try to spur new investment.Bonds pared price gains, but still ended stronger on Thursday ...

Markets - Fixed Income - Americas

Argentina, 'vultures' said close to deal on bonds NEW YORK: Argentina and the two hedge funds it has branded "vultures" are close to a deal to settle the funds' bond claims, a lawyer said Wednesday."We are this close to a deal," Matthew McGill, a lawyer for one of the two funds, NML Capital, said in the federal district court in Manhattan."We have an agreement on economic terms," he said, without explanation.If true, an end to a decade-old battle over Argentina's bond repayment obligations ...

Markets - Fixed Income - Americas

Bonds gain as Saudi oil comments spook risk markets NEW YORK: US Treasury yields fell on Tuesday after Saudi Oil Minister Ali Al-Naimi effectively ruled out production cuts by major crude producers anytime soon, sending oil and stock prices lower. Naimi said he was confident more nations would join a pact to freeze output at existing levels in talks expected next month, but that markets should not view the nascent agreement as a prelude to production cuts. Signs that the oil and equity markets ...

Markets - Fixed Income - Americas

US sells 2-year notes at lowest yield since Sept NEW YORK: The US Treasury Department on Tuesday sold $26 billion of two-year notes at a yield of 0.752 percent, which was the lowest level since the two-year auction held in September, Treasury data showed. The ratio of the bids on the latest two-year supply offered was 2.91, compared with 2.90 in January. The latest two-year note sale, which was a part of this week's $88 billion fixed-rate coupon supply, "went off without any difficulties," ...

Markets - Fixed Income - Americas

Yields rise ahead of auction as stocks recover NEW YORK: US Treasury yields increased on Wednesday as stock markets stabilized, reducing demand for safe haven debt, and before the United States is due to sell $23 billion in new 10-year notes. European stocks rebounded as concerns about the health of banks that have hammered shares globally in recent days eased and oil prices recovered from Tuesday's steep falls. Comments by US Federal Reserve Chair Janet Yellen acknowledging recent market turmoil offset some of ...

Markets - Fixed Income - Americas

Argentina offers $6.5bn to 'holdout' creditors NEW YORK: Argentina's new government has offered $6.5 billion to settle its long debt battle with "holdout" creditors, US mediator Daniel Pollack said Friday.The offer was made in New York talks with hedge funds and other creditors who have demanded repayment of about $9 billion on bonds the country defaulted on 15 years ago.Copyright AFP (Agence France-Presse), 2016 ...