02072016Sun
Last update: Sun, 07 Feb 2016 08am

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

US bonds underpinned one day before close elections LONDON: US Treasuries rose on Monday as investors sought safety in lower-risk markets one day before uncertain presidential elections and as Greek worries returned to the forefront of investors' minds.   US 10-year government bond yields fell 2.3 basis points to 1.69 percent but remained well within the 1.5-1.9 percent range which has held since September.   Investors have been reluctant in recent weeks to put on big positions before the vote on Tuesday, with the race between President Barack Obama and Republican challenger Mitt Romney close.   The elections will take place in the wake of a devastating storm that slammed into the US East Coast last week, leaving at least 113 people dead in the United States and Canada.   "A lot of people are risk averse, people aren't really exposed one way or another not only to see how the storm passes - what it means for the future growth of the United States and ...

Markets - Fixed Income - Middle East & Africa

Cameroon cocoa exports drop 7.7pc in September  YAOUNDE: Cameroon cocoa exports hit 25,490 tonnes in September, the second month of the 2012/13 harvest season, down more than 7 percent from the same month last season, National Cocoa and Coffee Board (NCCB) statistics showed on Friday.   The data, confirmed by the world's fifth largest cocoa grower's Cocoa and Coffee Interprofessional Board (CCIB), showed that exports fell by 7.7 percent compared with the 27,636 tonnes for the same month the previous season.   Month on month, exports ...

Markets - Fixed Income - Middle East & Africa

South Africa bonds, rand firm ahead of medium-term budget  JOHANNESBURG: South African government bonds rose on Thursday after higher-than-expected inflation data in the previous session with trading expected to be thin ahead of the Treasury's release of the medium-term budget later in the day.   The yield on the benchmark 3-year bond and the longer dated 14 year paper were both 2 basis points lower at 5.44 and 7.685 percent respectively.   By 0651 GMT, the rand was trading at 8.73 to the dollar, 0.6 percent firmer than ...

Markets - Fixed Income - Middle East & Africa

Morocco delays $1bn sovereign bond sale: minister  RABAT: Morocco has delayed its maiden dollar bond sale to end-November pending market stability, the budget minister said in published remarks on Wednesday, but banks have already been mandated for an issue that may exceed the initial $1 billion mark.   The delay's announcement, carried by L'Economiste newspaper, comes amid speculation King Mohammed would soon make a rare official tour of the Gulf Arab region from where Rabat hopes to raise a substantial share of the issue.   Initially ...

Markets - Fixed Income - Middle East & Africa

South African bonds weaken as market sees more issuance  JOHANNESBURG: South African government bonds weakened in early Thursday trade and the rand hovered near early-September lows as worries about the euro zone debt crisis came to the fore and investors fretted about the weak domestic economic outlook.   The yield on the three-year benchmark added two basis points to 5.335 percent and that for the 14-year issue, which is also heavily traded on the secondary market, was up 2.5 basis points at 7.515 percent.   The market was ...

Markets - Fixed Income - Middle East & Africa

South Africa to sell 2023, 2021 and 2031 bonds next week  JOHANNESBURG: South Africa's Treasury will auction 2.1 billion rand ($250 million) in total of its 2023, 2021 and 2031 government bonds next Tuesday. Copyright Reuters, 2012 ...

Markets - Fixed Income - Middle East & Africa

South Africa bonds edge up, rand declines  JOHANNESBURG: South African government bonds edged higher on Wednesday with the market still receiving a boost by the inclusion of government paper in Citigroup's World Government Bond Index (WGBI) from the start of the week.   The yield on the three-year benchmark was 2.5 basis points lower at 5.39 percent and that for the 14-year issue dropped 3 basis points at 7.53 percent.   By 0655 GMT, the rand was down 0.87 percent at 8.444 versus the dollar after ...