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Cost to insure against French default edges higher  LONDON: The cost to insure French government debt against default rose on Tuesday after the sovereign lost another of its top-notch credit ratings.   Moody's Investors Service downgraded France by one-notch to Aa1, leaving it with a negative outlook and citing an uncertain fiscal outlook and a deteriorating economy.   Five-year credit default swaps (CDS) on French debt rose 4 basis points to 93 bps, according to data monitor Markit. This means it costs $93,000 annually to buy $10 million of protection against a French default using a five-year CDS contract.   The level is well below an all-time high of 250 bps hit in November last year, when Italy was at the forefront of the debt crisis and concerns about French banks' exposure to Italian debt were at their highest.   Copyright Reuters, 2012 ...

Gilts steady after France downgrade, investors eye 5-year auction  LONDON: British government bonds were broadly steady early on Tuesday after credit ratings agency Moody's stripped France of its top triple-A grade.   Moody's cut the sovereign rating for Europe's No. 2 economy by one notch to Aa1, citing an uncertain fiscal outlook and deteriorating economy. The move follows a similar downgrade by Standard & Poor's in January and had been widely expected.   "The market implications of the rating action are probably rather limited," Barclays strategist Moyeen Islam ...
Bunds slip on US optimism but recent range holds  LONDON: German Bund futures slipped on Monday on optimism US policymakers would make progress towards averting a round of growth-crimping spending cuts and tax rises, though worries over aid for Greece were seen limiting falls.   Leading lawmakers expressed confidence on Sunday that they could reach a deal to avert the $600 billion "fiscal cliff", even as they took positions on taxes and spending that may make any agreement more difficult.   Bund futures fell 23 ticks to 143.08 ...
Gilts fall as U.S fiscal talks boosts risk appetite  LONDON: Gilts fell in early trade on Monday, as investors moved back into riskier assets on hopes that US policymakers would make progress in averting a fresh round of spending cuts and tax increases in the new year.   Leading US lawmakers expressed confidence on Sunday that they could reach a deal to head off looming across-the-board tax hikes and spending cuts, which could push the economy back into recession.   "Weekend reports that Congressional leaders have agreed to ...
Bunds edge up as euro zone, US worries niggle  LONDON: German government bonds inched higher on Friday with concerns over Greece's debt sustainability and the looming "fiscal cliff" in the US keeping investors in a risk-averse mood.   December Bund futures rose 16 ticks to 143.29, holding within sight of Tuesday's two-month high of 143.48.   "Greece, Spain, the US, it's the same themes but no developments, people stay risk averse and the market moves sideways," a trader said.   There were further signs of the divide between the European ...
Hungary increases size of bond sale, yields edge lower  BUDAPEST: Hungary sold 55 billion forints ($245.3 million) of government bonds on Thursday, raising its original offer by 10 billion forints as yields fell compared with a sale two weeks ago, debt agency AKK said.   It sold 20 billion forints worth of three-year bonds at an average yield of 5.93 percent, 22 basis points lower than two weeks ago. It sold 20 billion forints of five-year bonds, 5 billion above plan, at 6.32 percent, 3 basis ...
France auctions 1.33bn euros in inflation linked bonds  PARIS: France sold 1.33 billion euros in three lines of inflation-linked bonds at auction following a conventional medium-term debt sale, debt management agency Agence France Tresor said on Thursday.   AFT said it sold 445 million euros of OATs maturing in July 2022, and 325 million euros of OATS maturing in July 2027, both linked to euro-zone inflation.   It also sold 560 million euros of a French inflation-linked BTAN due in July 2016 at a negative yield of ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln