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

Europe

Markets - Fixed Income - Europe

Spain, Italy's long-dated yields hit multi-month highs on 50-year bond plans LONDON: Long-dated Spanish and Italian bond yields climbed to multi-month highs on Wednesday, as Spain started the sale of a 50-year bond and investors anticipated Italy may soon do the same. Madrid is set to price a new bond expiring in 2066 later in the day, while Rome has also been sounding out investor demand for such a bond even though its Treasury said on Tuesday that it had no firm plans.France and Belgium have already taken advantage of record low rates to launch rare 50-year bonds this year, part of a trend which has seen the highest share of long-dated issuance from the bloc's governments in the euro era.Yields tend to rise in secondary trading ahead of new bond sales as investors make room in their portfolios for the supply.Spain's benchmark 30-year bond yields rose 11 basis points (bps) to a two-month high of 2.86 percent on Wednesday, while ...

Markets - Fixed Income - Europe

Spain plans 50-year syndicated euro benchmark bond LONDON: The Kingdom of Spain is planning the issuance of a 50-year syndicated euro benchmark bond, according to a lead.The sovereign has mandated Barclays, BNP Paribas, CaixaBank, Citigroup, Santander and Societe Generale to manage the transaction. The deal will be launched in the near future subject to market conditions. It will mature on 30 July 2066. Spain is rated Baa2/BBB+/BBB+/AL. Copyright Reuters, 2016 ...

Markets - Fixed Income - Europe

Italy seeking to raise at least 2bn euros in 50 year bond sale MILAN: Italy's Treasury wants to raise at least 2 billion euros ($2.3 billion) in a 50-year government bond sale which it may issue through a bank syndicate in the next few weeks, two market sources said on Tuesday.The Treasury has been sounding out banks to gauge market demand for a 50-year issue from a sovereign with the euro zone's second-highest public debt level as a proportion of GDP. It would be the first time Italy ...

Markets - Fixed Income - Europe

Greek bonds shine after parliament passes unpopular reforms LONDON: Borrowing costs in Greece fell sharply on Monday, with 10-year government bond yields hitting four-month lows after lawmakers in Athens passed unpopular pension and tax reforms that could encourage the country's creditors to unlock bailout cash. Two-year Greek bond yields tumbled 80 basis points, while five-year yields slid 30 bps, outperforming other euro zone bond markets. The approval came hours before euro zone finance ministers were due to discuss Greece's progress on reforms and ...

Markets - Fixed Income - Europe

Portugal to offer up to 1bn euros of 10-year bonds on Wednesday LISBON: Portugal will offer between 750 million and 1 billion euros in 10-year government bonds in an auction on May 11, the IGCP debt agency said on Friday. The 2.875 percent coupon bond matures in July 2026. A week ago, ratings agency DBRS maintained Portugal's only investment-grade mark, helping push its bond yields lower earlier this week. Moody's, which rates the country one notch into "junk" territory with stable outlook is set to publish its ...

Markets - Fixed Income - Europe

Italy sells 1.91bn euros of 2034 BTP bond in exchange auction MILAN: Italy sold 1.91 billion euros ($2.2 billion) of an Aug. 1, 2034 BTP bond at an exchange auction on Friday, the Treasury said in a statement published on its website. The Treasury swapped the long-term bond with five bonds maturing in 2017 and in 2018 which it repurchased for a total of 2.56 billion euros.Copyright Reuters, 2016 ...

Markets - Fixed Income - Europe

Romania sells planned 1.0bn lei of one-year T-Bills BUCHAREST: Romania sold 960.7 million lei ($244.17 million) worth of one-year treasury bills on Thursday, slightly less than planned, with the average accepted yield at 0.7 percent, central bank data showed.Debt managers, who had planned to sell 1 billion lei on Thursday, last tendered the issue in April at an average yield of 0.66 percent.So far this year, the ministry has sold roughly 18.8 billion lei and 775 million euros worth of domestic debt, and ...