Europe
Wednesday, 13 March 2013 15:09
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ISTANBUL: Turkish bond yields inched lower on Wednesday after comments from the central bank governor suggested it would continue to keep interest rates low and try to support growth.Erdem Basci said at a conference in Istanbul that weak economic growth and a low interest rate environment globally meant the right policy for Turkey was also to keep rates low.The bank has been easing its policy since mid-2012.The yield on the two-year benchmark bond stood at 5.79 percent, from Tuesday's close at 5.81 percent.The lira weakened to 1.8058 to the dollar from 1.8025 late on Tuesday. Against its euro-dollar basket it stood at 2.0763, from 2.0770."We expect bond yields to more within a band of 10 basis points in intraday trade," wrote Pinar Uslu, strategist at ING's Affluent Banking unit, adding long-term bond yields would track US treasuries and auctions in Spain and Italy.Istanbul's main share index was down 0.11 percent ...
LONDON: Italian yields edged up on Wednesday as investors made room on their books for a sale of up to 7.25 billion euros of the country's bonds -- the first auction since Fitch cut its credit ratings last week.A good auction result may offer some short-term support for Italian bonds, but analysts expect the political uncertainty triggered by last month's inconclusive election -- the reason for Fitch's move -- to keep the debt market volatile.Debt ...
LONDON: Bund futures were stable on Wednesday before a sale of up to 7.25 billion euros of Italian debt, the first auction since political deadlock in the euro zone's third biggest economy prompted a cut in its credit rating last week.Debt costs are expected to rise after Fitch cut its rating following an inconclusive election result that risks deepening recession in a country now at the heart of Europe's debt crisis.But demand for high-yielding assets ...
MILAN: Italy carmaker Fiat on Tuesday said it planned to issue a benchmark bond denominated in euros.Sources close to the operation said the bond would have a five-year maturity, with a yield indicated in the area of 605 basis points over midswap. Copyright Reuters, 2013 ...
ROME: Italian Treasury said on Friday it would offer up to 5.5 billion euros of fixed-rate bonds (BTPs) and up to 1.75 billion euros of floating rate bonds linked to 6-month euribor (CCTEUs) at a March 13 auction.The Treasury said in a statement it would offer:Between 2.5 and 3.5 billion euros of a 7th tranche of BTPs paying a three-year BTPs paying a 2.75 percent coupon and maturing on Dec. 1, 2015Between 1.5 and 2 ...
LONDON: Spain's 5.03 billion euro bond auction on Thursday showed lower borrowing costs and plenty of willing buyers, despite renewed concerns about peripheral euro zone debt following Italy's inconclusive elections.The Treasury sold 2.435 billion euros of 2023 bonds at a yield of 4.917 percent, down from 5.2 percent in February with a bid/cover ratio of 2.3, above the 1.6 seen last time round.Yields were 3.572 percent and 2.632 percent respectively on the 2018 and 2015 ...
LONDON: Bund futures added to this week's hefty gains on Wednesday before an Italian debt auction that will give an indication of how worried investors are about the country's inconclusive elections.US Federal Reserve Chairman Ben Bernanke's defence of the central bank's stimulus programme has released some of the steam behind the Bund's recent rally, with European shares seen opening slightly higher.With no party or potential coalition having won a majority after the vote In Italy, ...
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