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Business Recorder Logo
May 07, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Financial

US yields slide ahead of non-farm payrolls report
Financial

US yields slide ahead of non-farm payrolls report

  • "The growth story is leading to inflation, while the Federal Reserve is jawboning, trying to keep expectations down, which I think is the right thing to do."
  • In mid-morning trading, the US 10-year Treasury yield fell to 1.559% on Thursday, from 1.584% late on Wednesday.
Published 06 May, 2021 08:08pm
German bond yields edge lower, selling pressure on Italy
Financial

German bond yields edge lower, selling pressure on Italy

  • The Bank of England said on Thursday it would slow the pace of its bond-buying as it sharply increased its forecast for Britain's economic growth, without triggering much price action on the bloc's borrowing costs.
  • Strong domestic demand for consumer goods propelled a bigger than expected jump in German industrial orders in March , while eurozone retail sales rose by more than expected in March.
Published 06 May, 2021 06:28pm
EU debt limit of 60pc no longer makes sense - ESM's Regling
Financial

EU debt limit of 60pc no longer makes sense - ESM's Regling

  • The COVID-19 pandemic made the need for change all the more pressing, Regling, who runs the euro zone's powerful European Stability Mechanism, told a seminar of the Belgian central bank.
  • "In my view the 3% deficit limit remains relevant, and that's good because it's also mentioned in the Treaty. But we need to think about the debt limit. Or I should say a debt target of 60%, which made sense when the Maastricht Treaty was negotiated, but it doesn't make sense now," he said.
Published 05 May, 2021 08:24pm
Greece raises 3bn euros via 5-year bond in third outing this year
Financial

Greece raises 3bn euros via 5-year bond in third outing this year

  • The five-year bond will price at mid-swaps plus 47 basis points, around 0.20% and is expected to pay a coupon of 0%, according to lead managers. It was Greece's third bond market tap after the sale of 10- and 30-year paper earlier this year.
  • The tap will help its public finances which have been strained by lower revenues and higher spending to alleviate the economic fallout of the pandemic.
Published 05 May, 2021 08:24pm
US Treasury keeps auction sizes steady, bill decline to slow
Financial

US Treasury keeps auction sizes steady, bill decline to slow

  • The Treasury also said it expects Congress to raise or suspend the US debt limit in a timely manner, and that it may take certain extraordinary measures if Congress does not.
  • The government expects its cash balance to be around $450 billion at the expiration of the debt limit suspension on July 31.
Updated 05 May, 2021 06:15pm
Negative-yielding euro zone debt pool lowest in almost a year
Financial

Negative-yielding euro zone debt pool lowest in almost a year

  • The end-April negative-yield bonds accounted for almost 60% of a total market worth roughly 8.9 trillion euros, the lowest share since May last year.
  • Germany's benchmark 10-year Bund yield was last trading at -0.23%. Last week it rose almost 6 basis points in its biggest weekly rise in more than two months.
Published 04 May, 2021 06:39pm
Fidelity halves valuation of Ant Group after Chinese crackdown: WSJ
Financial

Fidelity halves valuation of Ant Group after Chinese crackdown: WSJ

  • That figure compares to an appraised value of $295 billion as at the end of August. Fidelity was among a small group of global investors that bought into Ant three years ago.
  • Ant's initial public offering was canceled in spectacular fashion last November and Chinese regulators later ordered the enterprise to convert into a financial holding company, denting Ant's appeal in the eyes of investors.
Published 03 May, 2021 05:34pm
Trading platform INX estimates $125mn raised in equity, token offerings
Financial

Trading platform INX estimates $125mn raised in equity, token offerings

  • INX, a Gibraltar-based company with most of its operations in the United States, in August launched the first security token IPO for both retail and institutional investors approved by the US Securities and Exchange Commission.
  • Security tokens are digital currencies backed by a tradable asset such as real estate or equity and are subject to federal regulations. The tokens represent a right to the underlying asset.
Published 03 May, 2021 05:01pm
SBP hopes to boost investment in Pakistan: Raza Baqir
Financial

SBP hopes to boost investment in Pakistan: Raza Baqir

  • As the third wave continues to disrupt economies worldwide, Pakistan’s economy has a lot going on in its favour this time, according to the Dr. Raza Baqir, Governor of the State Bank of Pakistan (SBP) in an online session with Nest I/O.
  • Dr. Raza Baqir explained how the country’s demographic profile, growing mobile penetration rate, and positive economic indicators, especially during the COVID-19 pandemic, have contributed to an increase in investments.
Published 01 May, 2021 10:34am
Yields dip as investors buy bonds for month-end
Financial

Yields dip as investors buy bonds for month-end

  • "Right now it's month-end rebalancing," said Ian Lyngen, head of US rates strategy at BMO Capital Markets in New York, noting the next major market catalyst will be next Friday's jobs report for April.
  • The yields fell back down in the afternoon, however, and are now trading in the middle of their recent range.
Published 30 Apr, 2021 08:46pm
German 10-year yield set for biggest weekly rise since February
Financial

German 10-year yield set for biggest weekly rise since February

  • Investors are closely watching data for any signs that the economic recovery from COVID-19 is gathering sufficient pace for central banks to start scaling back the extraordinary stimulus since the start of the crisis.
  • The euro zone economy shrank less then expected in the first three months of the year, preliminary data showed on Friday, while headline inflation picked up as expected.
Published 30 Apr, 2021 06:50pm