09252016Sun
Last update: Sun, 25 Sep 2016 08am

Europe

Markets - Fixed Income - Europe

Italian yields rise as post-Brexit slide in euro zone borrowing costs halts LONDON: Italian government bonds rose on Monday as worries about the country's banks and some 20 billion euros of issuance in the region this week combined to brake a post-Brexit tumble in regional borrowing costs. Italy's banking sector is saddled with 360 billion euros of bad loans, a third of the euro zone total, and recent market turmoil has raised concern it might be hard for Italian lenders to raise capital in the market without triggering rules that could force losses on bond- and shareholders. The Italian banking index fell nearly 4 percent on Monday, while the European Central Bank asked Banca Monte dei Paschi di Siena to slash its bad debts by 40 percent over three years, heaping more pressure on Rome and Brussels to stabilise the Italian banking system.Italy is in talks with the European Commission to devise a plan to recapitalise Italian lenders with public money limiting ...

Markets - Fixed Income - Europe

Poland says plans to convert OFE pension funds into mutual funds WARSAW: Poland plans to convert state-guaranteed OFE private pension funds into mutual investment funds that will manage 103 billion zlotys ($26 billion) worth of assets, economy minister Mateusz Morawiecki said on Monday. The remaining 35 billion zlotys now held by the OFE pension funds are to be transferred to the state-run demographic reserve fund, Morawiecki said.Copyright Reuters, 2016 ...

Markets - Fixed Income - Europe

Spain to issue bonds due 2021, 2024, 2025 and 2030 on Thursday MADRID: Spain plans to issue bonds due 2021, 2024, 2025 and 2030 at the next scheduled bond auction on Thursday, the Treasury said on Friday. The 2024 bond is inflation linked and is due November 30 of that year with a 1.8 percent coupon. The other bonds are due July 30, 2021, with a 0.75 percent coupon, July 30, 2025, with a 4.65 percent coupon and July 30, 2030, with a 1.95 percent coupon. The ...

Markets - Fixed Income - Europe

Greece to auction 1.25bn euros of 6-month T-bills on July 6 ATHENS: Greece will sell 1.25 billion euros ($1.39 billion) of six-month treasury bills on July 6 to refinance a maturing issue, debt agency PDMA said on Friday. Athens successfully rolled over six-month T-bills last month, with the paper priced to yield 2.97 percent. In a rollover, T-bill holders renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new bills will be July 8. Only primary dealers ...

Markets - Fixed Income - Europe

Euro zone yields slide, Spanish, Italian yields set for biggest weekly fall since 2012 LONDON: Borrowing costs across the euro zone sank to new lows on Friday, with yields in Spain, Italy and Ireland set for their biggest weekly fall in almost four years on rising expectations of central bank policy action following Brexit. Spain and Italy, where 10-year yields hit their lowest in more than a year, saw the most pronounced market moves amid talk about changes to the European Central Bank's asset purchase programme that could benefit ...

Markets - Fixed Income - Europe

Euro zone yields edge up, Bund yields face biggest monthly fall since Jan LONDON: Euro zone government bond yields lifted off record lows on Thursday as rallying stocks drew investors away from low-risk bonds, but post-Brexit uncertainty still left German Bund yields on track for their biggest monthly fall since January. French, Irish and Dutch 10-year yields, which touched record lows on Wednesday on hopes for more European Central Bank stimulus to limit the negative impact of Britain's vote to leave the European Union, all edged higher.German 10-year ...

Markets - Fixed Income - Europe

UK 30-year gilts set new record despite easing risk backdrop LONDON: British 30-year government bond yields sank to a fresh record low on Wednesday, despite a more upbeat general risk sentiment that boosted sterling and shares, and helped shorter-dated debt climb off a recent trough. Thirty-year yields hit a record low of 1.769 percent at 1135 GMT, and were still 3 basis points down on the day at 1.78 percent at 1318 GMT. Twenty-year yields also hit a record low of 1.654 percent, while 10-year ...