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Portuguese yields sag as BES seeks to soothe investor nerves LONDON: Portuguese bond yields fell on Friday as the country's biggest bank sought to reassure investors about its financial stability after concerns over the health of its parent company rattled financial markets this week. Investor worries about losses on loans to the parent company of Banco Espirito Santo accelerated a sell-off in Portuguese assets this week that triggered the first significant episode of contagion this year in peripheral euro zone bonds. The bonds recovered some poise after Banco Espirito Santo said on Thursday night that losses on loans to the troubled business empire of its founding family would not put BES at risk of running short of capital. The calmer market backdrop enabled Italy to sell 7.5 billion euros of bonds, the top of its targeted range, at a solid auction, which sharply contrasted with Greece's three-year bond sale on Thursday where demand was hurt by fallout from Portugal. The ...

Greek yields jump as bond sale draws modest demand LONDON: Greek bond yields extended their rise on Thursday with traders citing investor disappointment with initial demand for a new three-year bond Athens is selling via a syndicate of banks.Order books for the bond have topped 3 billion euros, according to IFR, a Thomson Reuters service. When Greece sold a five-year bond back in April orders reached over 20 billion euros.Bailed-out Greece is aiming to raise up to 3 billion euros from the new bond, ...
Portugal's bond yields spike on Espirito Santo group reports LONDON: Portuguese bond yields shot higher on Wednesday on local news reports of a proposed debt restructuring by a holding company of the founding family of Banco Espirito Santo (BES), Portugal's largest listed bank.Ten-year yields spiked nearly 30 basis points to hit a day's high of 3.96 percent, as one trader said some banks were urging the sovereign to delay plans for a debt sale expected in the coming days. The Portuguese Treasury declined to ...
Gilts pare losses after lower-than-expected UK services PMI LONDON: British gilt futures pared losses on Thursday after data showed activity in Britain's services sector slowed more quickly than epxected.The Markit/CIPS services purchasing managers' index (PMI) hit a three-month low of 57.7 in June, down from 58.6 in May and below a consensus forecast of 58.3 in a Reuters survey.Gilt futures were down 15 ticks on the day at 109.07 having stood around 108.99 before the data.The premium 10-year British yields offer over their ...
Euro zone bond yields rise as US jobs, ECB double act eyed LONDON: Euro zone bond yields mostly pushed higher on Thursday as investors positioned for what may be a strong non-farm payrolls report after robust private sector data pointed to a strong recovery in the US labour market.Economists expect US employers to have added 212,000 jobs in June, down slightly from 217,000 in May, according to a Reuters poll. The data will be released on Thursday at 1230 GMT because Friday is a holiday in the ...
UK gilts fall to a six-day low after strong PMI, before auction  LONDON: British government bond prices fell to a six-day low on Tuesday after a strong manufacturing release and ahead of a sale of five-year bonds.British gilt futures hit a six-day low of 109.67, 25 ticks lower on the day not long after a survey showed British manufacturing activity expanded in June at its fastest rate in seven months. Before the data, the future stood at 109.89.The UK debt agency is poised to sell 4 billion ...
Portugal yields rise on worries over Banco Espirito Santo probe LONDON: Portuguese government bond yields rose on Monday after Luxembourg's justice authorities said they had begun an investigation into three holding companies of Portugal's largest listed bank.Shares of Banco Espirito Santo plunged on Monday. Finance Minister Maria Luis Albuquerque said the bank was well-capitalised and the government saw no threat to financial stability and public accounts."Some could be selling as a hedge because they cannot sell the bank's bonds if the market is too illiquid," ...


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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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