Europe
Tuesday, 26 March 2013 14:26
297
LONDON: German Bund futures held steady on Tuesday, staying near highs hit the previous day as markets worried that Cyprus's bailout could be a template applicable to larger states that might get into difficulty.The head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, said on Monday that a Cypriot bailout, which wiped out some senior bank bondholders and will impose big losses on large depositors, was a new template for resolving euro zone banking problems.He later appeared to backtrack, saying Cyprus was a specific case with exceptional challenges but analysts said the market was adjusting to the idea that investors and savers will be forced to contribute to future bank bailouts."He may have tried to tone down his comments but the impact has been pretty clear: risk markets have lost ground, the euro has lost ground and peripheral bonds have come under pressure," said Nick Stamenkovic, strategist at RIA Capital ...
PARIS: France will sell a new 30-year bond by syndication in the coming days depending on market conditions, the Agence France Tresor public debt management agency said on Monday.The joint lead managers for the issue will be Barclays, Morgan Stanley, BNP Paribas Royal Bank of Scotland and Societe Generale and all primary dealers will take part in the syndicate, AFT said in a statement.The AFT said the issue was part of its 2013 funding plan. ...
LONDON: US debt prices fell on Monday after Cyprus agreed a last-gasp deal to prevent the collapse of its banking sector, cooling demand for the safety of low-yielding Treasuries. Cyprus reached a deal with international lenders to secure a 10 billion euro bailout hours before a deadline, prompting some selling from investors who had bought Treasuries last week for their safety and liquidity when talks were struggling. "The general theme today is risk-on so the ...
ISTANBUL: Turkish bonds yields inched up on Thursday, helped by speculation the central bank will shy away from another cut in interest rates at its meeting next week.Shares in one of the world's more robust emerging economies edged higher, outperforming peers, but the lira fell, largely due to the broadly negative tone to European markets due to concerns over Cyprus.The yield on the two-year bond edged up to 6.21 percent from Wednesday's close at 6.18 ...
LONDON: British government bonds reversed their underperformance versus Bunds after the plan for gilt sales in 2013/14 undershot forecasts and a new remit for the Bank of England raised chances it would buy more gilts.British debt lagged German paper early in the session after minutes of the BoE's latest meeting showed policymakers were no closer to backing additional asset purchases this month than last.However, gilts recovered their footing after finance minister George Osborne announced a ...
LONDON: US bonds fell on Wednesday as investors took profit on a recent rally before the outcome of the Federal Reserve meeting but concerns over Cyprus's ability to avoid default should limit selling.Cyprus came closer to default after its parliament rejected an unprecedented levy on bank deposits which was a pre-condition for them receiving a bailout.US Treasuries rose in the previous session, with analysts saying markets had already been pricing in that the controversial legislation ...
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