02082016Mon
Last update: Mon, 08 Feb 2016 04am

Europe

Markets - Fixed Income - Europe

Turkish bond yields fall on rate cut prospects  ISTANBUL: Turkish bond yields fell on Thursday on prospects that the central bank would ease its policy stance further at its next meeting in December.   The lira strengthened slightly in thin trade.   With growth slowing, Turkey's central bank cut its overnight lending rate on Tuesday for the third consecutive month, and has indicated it could gradually begin to cut its main policy rate, the one-week repo rate, and overnight borrowing rate.   By 0908 GMT, the lira stood at 1.8000 to the dollar from 1.8036 late on Wednesday. Against its euro-dollar basket, it was flat at 2.0574.   The yield on the two-year benchmark bond fell to 6.22 percent from Wednesday's close of 6.28 percent.   "The yields will continue to trade flat for a while," said Burak Maldar, vice president at Halk Invest.   "There's low chance of a sell-off as it seems almost certain the central bank will cut its rates at its December meeting," Maldar said, adding ...

Markets - Fixed Income - Europe

Bunds pause after recent sharp losses  LONDON: Bunds were steady on Thursday, consolidating recent losses on the back of perceived improvement in Greece's chances to secure a new aid tranche disbursement.   German Chancellor Angela Merkel induced some optimism in the market by saying an agreement to release aid to Athens was still possible next Monday when euro ministers meet, after Greece's international lenders failed to reach a deal on Wednesday.   At 0703 GMT, Bund futures were 1 tick higher at 142.18, having fallen ...

Markets - Fixed Income - Europe

Bunds erase gains on Merkel comments  LONDON: German Bund futures fell on Wednesday as politicians stepped up efforts to come to a deal to release aid for Greece after a meeting on Monday failed to reach agreement.   German Chancellor Angela Merkel told a closed-door meeting of lawmakers that lower interest rates and an expanded EFSF rescue fund could fill Greece's financing gap.   "The news (overnight) was a bit disappointing, but Merkel comments this morning seem pretty supportive," one trader said.   German Bund futures were ...

Markets - Fixed Income - Europe

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 ...

Markets - Fixed Income - Europe

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 ...

Markets - Fixed Income - Europe

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 ...

Markets - Fixed Income - Europe

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 ...