02092016Tue
Last update: Tue, 09 Feb 2016 02pm

Europe

Markets - Fixed Income - Europe

Irish yields dip back below 1pc after Fitch upgrade LONDON: Irish 10-year bond yields dipped on Monday as an upgrade to the country's credit rating by Fitch countered selling pressure ahead of what is expected to be a close-run election on Feb. 26. Fitch raised Ireland by one notch to A late on Friday.One opinion poll on Saturday showed Prime Minister Enda Kenny's conservative party had halted a recent slide in popularity but it fell sharply in another, maintaining the potential for an inconclusive outcome to the poll.Ireland's economy is forecast to be Europe's best performing for the third successive year in 2016 and Fitch cited growth last year of about 7.0 percent and improving debt dynamics as key drivers for the upgrade.The move will not trigger any buying by investors tracking bond indices. A Moody's upgrade of its Baa1 rating could have a bigger impact than the Fitch move.Nevertheless, analysts said it should provide some support for Irish ...

Markets - Fixed Income - Europe

Poland sells 7.5bn zlotys bonds at auction WARSAW: Poland sold a total of 7.5 billion zlotys ($1.90 billion) in zero-coupon bonds due October 2018 and fixed-rate bonds due July 2026, the finance ministry said in a statement on Thursday. This consisted of 3.64 billion zlotys in the zero-coupon bond and 3.86 billion in the bond due 2026. Details of the auction are available at the ministry's pages in the Reuters system. Copyright Reuters, 2016 ...

Markets - Fixed Income - Europe

UK 5-year gilt yield hits lowest since 2013 ahead of BoE outlook LONDON: British five-year gilt yields fell to their lowest level since mid-2013 on Wednesday, after weak U.S. economic data underlined why Bank of England officials are likely to strike a cautious tone in their latest economic outlook.Government bonds around the world rallied after figures showed activity in the vast U.S. services sector slowed to its lowest in nearly two years last month, suggesting economic growth weakened in the world's largest economy.The five-year gilt yield slipped ...

Markets - Fixed Income - Europe

Russia aims to get at least 110 bln rbls in extra dividends from state firms in 2016 MOSCOW: Russia's state property agency has proposed to increase dividend payments by state firms this year in order to get no less than 110 billion roubles ($1.4 billion) in extra budget revenues if the decision is approved, said agency head Olga Dergunova."As you know, 25 percent is a standard (divident payment), and state firms do not pay less than this amount to the budget. We have proposed to increase this percentage this year, and if ...

Markets - Fixed Income - Europe

German five-year bond yields fall below ECB deposit rate LONDON: Yields on German government bonds of up to five years' maturity traded below the European Central Bank's deposit rate on Monday as money market rates reflected expectations of two further 10 basis point cuts in 2016.The Bank of Japan's unexpected cut in a benchmark interest rate to below zero on Friday has supported bond markets around the world. The move highlighted the challenges that major central banks face in lifting inflation at a time ...

Markets - Fixed Income - Europe

Fed dovishness pushes down euro zone bond yields LONDON: Euro zone bond yields fell on Thursday, mirroring an earlier move in U.S. Treasuries, after the Federal Reserve was deemed to have struck a dovish tone by acknowledging recent market volatility.German 10-year yields - the euro zone's benchmark - fell 2 basis points to 0.35 percent, their lowest since April 2015. U.S. Treasury yields dropped 6 bps from their day's high of 2.05 percent after the statement was released late on Wednesday.Strategists said the ...

Markets - Fixed Income - Europe

German two-year yields hit new low as March ECB cut priced in LONDON: German two-year bond yields hit a record low on Tuesday as another fall in oil prices prompted a dip in money market rates, implying that investors expect the European Central Bank to cut its deposit rate in March.After suggesting on Thursday the ECB may ease monetary policy further at its next meeting, President Mario Draghi repeated a promise on Monday to increase inflation.However, market-based inflation expectations on any time horizon remain below the ECB's ...