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Italy yields hit 8-year lows as Renzi reform plan cheers investors LONDON: Italian borrowing costs hit eight-year lows on Wednesday as Prime Minister-designate Matteo Renzi scrambled to form a cabinet that investors hope will deliver on his ambitious reform agenda. Investors have given the 39-year old leader of the centre-left Democratic Party the benefit of the doubt after he engineered the removal of party rival Enrico Letta from the premiership last week. Renzi accused Letta of failure to push through reforms needed to revive the economy. Italy, whose economic recovery lags that of most other euro zone states, needs more robust growth than the 0.1 percent eked out in the fourth quarter if it is to curb a 2 trillion euro debt equivalent to 1.3 times economic output. Renzi, who is expected to have his new cabinet in place by the weekend, has pledged reforms, including tackling the electoral and constitutional system, within four months of taking office. Italian 10-year yields ...

Spain to sell bonds due 2019, 2024 and 2044 on Thursday MADRID: Spain will auction three bonds at the next scheduled auction Feb. 20, the Treasury said on Friday. The bonds include one due April 30, 2019, with a 2.75 percent coupon, one due April 30, 2024, with a 3.8 percent coupon and one due October 31, 2044, with a 5.15 percent coupon.Copyright Reuters, 2014 ...
Italian bond yields near eight-year lows before industry data LONDON: Italy's government bond yields held near eight-year lows on Monday before the country releases industrial output figures, kicking off a key week for investor perceptions about the euro zone growth outlook. Recent economic data have been one of the main drivers behind a rally in lower-rated euro zone bonds this year, with investors betting that an economic recovery will help the region leave its sovereign debt crisis behind. A pick-up in euro zone growth ...
UK gilts extend gains after trade and industrial output data LONDON: British government bonds extended gains after data on Friday showed Britain's trade deficit narrowed sharply in December and industrial output came in slightly weaker than expected. The March long gilt future extended gains by around 15 ticks to 110.36 after the release. It has since steadied around 110.27, up 28 ticks on the day. Ten-year gilt yields were down around 2.7 basis points on the day, last at 2.722 percent. Copyright Reuters, 2014 ...
Bunds rally as Germany refers ECB bond-buy plan to EU court LONDON: German Bund futures rallied while lower-rated bonds pared gains on Friday after Germany's top court referred a complaint against the European Central Bank's "unlimited" bond-buying scheme to the European Court. The ECB, whose Outright Monetary Transaction plan, unveiled in 2012 and widely credited with easing the sovereign debt crisis even though it has yet to be activated, immediately reiterated that the programme fell within its mandate. Any potential curb on the OMT would alarm ...
Greek yields fall as hurdle to bailout talks seen resolved LONDON: Greek yields fell on Tuesday on news that Athens and its foreign lenders had largely resolved differences over a potential fiscal gap this year, removing a hurdle to talks to release more bailout funds. A review of progress under its EU/IMF bailout has dragged on since September, largely due to wrangling over how Athens would plug a gap in this year's budget. Surprisingly strong data on a primary surplus for 2013 ...
German yields fall on talk Draghi wants to stop sterilisation LONDON: German Bund yields hit their lowest in six months on Tuesday on talk the European Central Bank was seeking support to stop sterilising its crisis-era bond purchases in money markets. The ECB takes an amount equivalent to its holdings of euro zone government bonds as weekly deposits from banks to offset the buying and neutralise any threat it will fuel inflation. The weekly operations are also aimed at quelling concerns the bond purchases were ...


Index Closing Chg%
Arrow DJIA 16,424.85 1.00
Arrow Nasdaq 4,086.23 1.29
Arrow S&P 1,862.31 1.05
Arrow FTSE 6,584.17 0.65
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Arrow CAC-40 4,405.66 1.39
Arrow Nikkei 14,417.68 3.01
Arrow H.Seng 22,696.01 0.11
Arrow Sensex 22,277.23 0.92

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln