02142016Sun
Last update: Sun, 14 Feb 2016 06am

Europe

Markets - Fixed Income - Europe

German two-year yields off record lows after poor auction LONDON: Two-year German bond yields pulled back from record lows on Wednesday, after a surprisingly poor bond auction result suggested waning demand for an asset that has been underpinned by expectations for more ECB monetary easing.It was the first time since November 2011 that a two-year bond auction drew less in bids than the amount on offer.Germany sold just over 4 billion euros of bonds after receiving bids totalling 4.4 billion, compared with 5 billion euros offered.Such "technically uncovered" auctions are not uncommon in Germany, where debt sales often depend on investor interest on that particular day, rather than underlying demand for German debt, which is seen one of the safest assets in the world.But auctions of two-year bonds, which are sensitive to monetary policy, have fared well in recent years as the European Central Bank has deployed unconventional tools such as long-term liquidity auctions, negative deposit rates and bond-buying.The ...

Markets - Fixed Income - Europe

Global security jitters send Bund yields to three-week low LONDON: Benchmark 10-year German Bund yields hit their lowest level in almost three weeks on Wednesday, as global security worries lifted demand for safe-haven government debt.Early on Wednesday, gunfire erupted in a north Paris suburb as French police launched an operation to catch suspects believed to be behind gun and bomb attacks in which 129 people were killed last week.Two Air France flights to Paris from the United States were diverted on Tuesday due to ...

Markets - Fixed Income - Europe

France seen raising 2.8bn euros in 4G auction PARIS: The French state is set to raise 2.8 billion euros ($2.98 billion) in an auction of French 4G mobile phone spectrum that is closing on Tuesday, sources told Reuters. Telecoms regulator ARCEP declined to comment, saying it would communicate on the final outcome of the auction after the market close. ARCEP had said on Monday that bidding had reached 2.7 billion euros in the auction, with an eighth round scheduled on Tuesday. Telecoms operators ...

Markets - Fixed Income - Europe

Portuguese yields chase four-month high before crucial rating review LONDON: Portugal's 10-year government bond yield rose towards its four-month high on Friday, before a credit-rating review that could lead to Lisbon's ejection from the European Central Bank's asset-purchase programme. Other euro zone bond yields fell as falling commodity prices fuelled expectations of low inflation and further easing by the ECB next month. But in Portugal the market was waiting for a review by Canadian ratings agency DBRS later on Friday. Left-wing parties ousted Portugal's ...

Markets - Fixed Income - Europe

Italy sells top amount in bonds, pays record-low 3-year yields MILAN: Italy paid record-low yields to borrow over three years at an auction on Thursday as expectations of further monetary easing by the European Central Bank in December pushed down bond yields in the euro zone. Italy sold a total of 5.5 billion euros ($5.9 billion) in bonds, at the top of its planned issue range. The Treasury sold a three-year bond maturing in October 2018 at 0.11 percent, down from 0.25 percent a month ...

Markets - Fixed Income - Europe

Czechs sell CZK 2.0bn of 0.45/23 govt bonds PRAGUE: The Czech Finance Ministry sold 2.01 billion crowns ($79.77 million) worth of 0.45/23 government bonds in the first, competitive round of bidding at an auction on Wednesday.The ministry had planned to offer 2.0 billion to 5.0 billion crowns worth of the bonds in its first sale of the paper.The bond was sold along with 11.0 billion crowns worth of a 0.00 percent coupon bond due in 2017 and 2.09 billion crowns worth of a ...

Markets - Fixed Income - Europe

Euro zone yields fall as ECB rate-cut talk grows LONDON: Euro zone government bond yields fell across the board on Tuesday, on growing expectations that the European Central Bank will cut its deposit rate next month just as the U.S. Federal Reserve looks likely to hike.A consensus is forming at the ECB to take the interest rate it charges banks to park money deeper into negative territory, possibly by more than the 10 basis points that markets currently expect, Reuters reported on Monday.Talk of ...