07252016Mon
Last update: Mon, 25 Jul 2016 08pm

Europe

Markets - Fixed Income - Europe

Greek bond yields rise as reform talks delayed LONDON: Greek government bond yields rose sharply and the country's stock market came under pressure on Wednesday, following news that a meeting on Greek reforms has been delayed.Most euro zone bond yields were lower, with the overall tone in markets cautious as two risk events loomed large - a Federal Reserve interest rate decision later on Wednesday and a Bank of Japan meeting on Thursday.Euro zone finance ministers will not meet on Thursday and need more time to discuss two sets of Greek reforms that would unlock new loans, the office of the Eurogroup said late on Tuesday.The meeting was a possibility because Greece and its lenders aim to reach an agreement on a package of contingent measures that would be implemented only if needed, to make sure the country reaches agreed fiscal targets in 2018."It is the latest twist in a very difficult course," said Chris Scicluna, head of ...

Markets - Fixed Income - Europe

Syndication of ultra-long UK gilt draws second-highest demand ever LONDON: Britain's sale of an ultra-long bond drew the second-highest demand ever for a launch via syndication thanks to interest from pension funds, despite financial market volatility ahead of a referendum on the country's membership of the European Union.Britain's Debt Management Office sold 4.75 billion pounds ($6.95 billion) of the 2.5 percent July 2065 bond at an average yield of 2.2905 percent.The sale attracted orders worth 21.3 billion pounds and will increase the total amount ...

Markets - Fixed Income - Europe

Euro zone's low yields finally turning foreign investors away LONDON: Foreign investors have been selling long-dated euro zone bonds on a scale not seen in seven months, a sign of growing reluctance to hold debt with an ultra-low or negative yield.Overseas holders sold a net 42 billion euros worth of long-dated government bonds in February, according to ECB balance of payments data. Societe Generale head of fixed income and forex strategy Vincent Chaigneau blamed the change in sentiment on low yields."Once we got past ...

Markets - Fixed Income - Europe

Bund yields touch five-week high as ESM supply weighs LONDON: German Bund yields hit a five-week high on Monday, reversing early falls, as investors anticipated a new bond issue from the European Stability Mechanism (ESM), the euro zone's crisis resolution fund.The ESM on Monday mandated banks for a 16-year benchmark due on 3 May 2032, IFR reported."Reports that banks are syndicating a 16-year benchmark for ESM is pushing bond yields higher," said Mizuho strategist Peter Chatwell. "But markets are thin and there doesn't appear ...

Markets - Fixed Income - Europe

German Bund yields hold above 0.2pc as market nurses losses LONDON: German Bund yields held above 0.2 percent on Monday, hovering near recent one-month highs amid some nervousness ahead of this week's central bank meetings in the US and Japan. Bund yields ended Friday with their biggest weekly rise since last December after a rebound in oil prices and a wait-and-see message from the European Central Bank at a policy meeting on Thursday.Focus now turned to the US Federal Reserve, which meets on Wednesday, and ...

Markets - Fixed Income - Europe

Bund yields rise above 0.20 percent as oil price hits five-month high LONDON: German 10-year Bund yields rose above 0.20 percent for the first time in a month on Thursday as oil prices jumped to a five-month high, supporting the outlook for inflation and investor appetite for riskier assets.The European Central Bank is widely expected to refrain from further economic stimulus at its policy meeting on Thursday, providing little additional support for bonds.German yields - the bloc's benchmark - rose 6 basis points to 0.21 percent, pulling ...

Markets - Fixed Income - Europe

Euro zone yields rise as oil price hits five-month high LONDON: Euro zone bond yields rose on Thursday as oil prices jumped to a five-month high, supporting the outlook for inflation, and as investors turned to riskier assets such as stocks. The European Central Bank is widely expected to refrain from further economic stimulus at its policy meeting on Thursday, providing little additional support for bond yields.German 10-year yields -- the bloc's benchmark -- rose 3 basis points to 0.18 percent, pulling away from 0.05 ...