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German bonds gain ahead of Italian debt sale  LONDON: Safe-haven German bond prices rose and gold firmed on Wednesday after Spain's credit rating was cut to one notch above "junk" ahead of a crucial Italian bond sale, and weak US data fuelled concerns that the euro zone crisis was hitting global growth. "We are fast approaching the point where both Spain and Italy may have to be removed from the market," said Gary Jenkins, director of Swordfish Research. Despite the rating cut, the euro ticked up slightly against the dollar and European shares prices only inched lower as many investors were sidelined ahead of Sunday's cliffhanger election in Greece, which could see the country exit the currency bloc. Gold traded up 0.15 percent to $1,620 an ounce, having already gained over 1 percent this week, and, after two days of heavy selling, German government 10-year bond prices rose to push the yield down four basis points to 1.46 percent. The euro traded ...

Bunds open higher after Spanish downgrade  LONDON: German government bond futures rose on Thursday after Moody's cut Spain's credit rating to just one notch above "junk" and ahead of an Italian debt auction which could prove tricky as the debt crisis deepens. Moody's slashed Spain three notches to Baa3, its lowest investment grade rating, and said it could lower the rating further within the next three months. The agency said the newly approved euro zone plan to help Spain's banks will increase ...
German Bunds extend slide before auction  LONDON: German bond prices tumbled on Wednesday, extending a steep fall seen the previous day, though traders expected them eventually to rebound with markets still fixated on Spain's elevated bond yields and Greek election risks. The pressure remains on Spain after a 100 billion euro bank rescue plan sparked wider concerns over whether Spanish government bonds would be pushed down the pecking order for repayment by the new debt, and whether Madrid could continue borrowing at ...
Bunds ease before 10-year auction, Spain in focus  LONDON: German bond futures fell on Wednesday ahead of a 10-year bond auction, extending a steep selloff seen in the previous session, but the room for further falls was limited with markets still fixated on Spain's rising bond yields. The pressure remains on Spain after a 100 billion euro bank rescue plan sparked wider concerns over whether Spanish government bonds would be subordinated by the new debt, and whether Madrid could continue borrowing at affordable rates. Bund ...
Spanish yields up on bailout doubts; Bunds sell off  LONDON: Spanish government bond yields rose to near euro-era highs on Tuesday as a bailout for the country's banks did little to soothe concerns over its long-term ability to access markets. Italian bond yields also rose before an auction on Thursday, when the Treasury may have to pay dear to sell debt, with Sunday's make-or-break Greek election adding to volatility. Investors took profit on German Bund futures after a rally the previous day but the sell-off was ...
Steady Bunds underpinned by Greek vote, Spain  LONDON: German Bunds were steady on Tuesday and were likely to remain underpinned by a bailout for Spanish banks that failed to ease concerns about the country's long-term access to markets, and before make-or-break Greek elections over the weekend. Against that backdrop, investors are expected to snap up 10-year and 50-year Austrian bonds and Dutch paper maturing in 2033 at auctions this session, as they seek relatively safe alternatives to lower-yielding German bonds. "We think the market ...
Italian 10-year bond yields rise back above 6pc  PARIS: The rate of return demanded by investors for Italian 10-year bonds briefly soared above six percent Monday on the secondary market as concerns mounted about eurozone debt despite a Spanish bank rescue. Shortly before 1700 GMT the yield on benchmark Italian 10-year bonds rose to 6.004 percent from 5.758 percent at Friday's close, breaking the six percent barrier considered to be a level unsustainable in the medium term, for the first time since early June. The ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln