May 31, 2005
Bond yields in the UK, the eurozone, and the US were all down on Tuesday. Yields in the UK fell on news of weak retail numbers. The 2-year gilt was down 7.8 basis points to a yield of 4.305 percent, while 10-year yields fell 9.6 basis points to a 4.307 percent. In the eurozone, negative data concerning the business climate and consumer sentiment, showing both in decline, took ...
Bond yields down across board
by Brian TurnerBond yields in the UK, the eurozone, and the US were all down on Tuesday. Yields in the UK fell on news of weak retail numbers. The 2-year gilt was down 7.8 basis points to a yield of 4.305 percent, while 10-year yields fell 9.6 basis points to a 4.307 percent. In the eurozone, negative data concerning the business climate and consumer sentiment, showing both in decline, took ...
May 30, 2005
Indian prime minister Manmohan Singh has announced that India will soon allow direct foreign investment in the nation’s retail sector. His comments came while officials of US retail giant Wal-Mart were in India to discuss the company’s plans and gave the company an indication that they will soon be allowed to participate in the country’s $180 billion retail market. Some are concerned, though, about the cultural impact the entry of ...
India to open retail sector to investors
by Brian TurnerIndian prime minister Manmohan Singh has announced that India will soon allow direct foreign investment in the nation’s retail sector. His comments came while officials of US retail giant Wal-Mart were in India to discuss the company’s plans and gave the company an indication that they will soon be allowed to participate in the country’s $180 billion retail market. Some are concerned, though, about the cultural impact the entry of ...
May 27, 2005
In the UK on Friday, yields on 2-year gilts were down 1.1 basis points to a yeild of 4.352 percent. Yields on longer-dated issues, however, were higher. The new 50-year gilt had a yield of 4.259 percent, up 2.8 basis points, the 30-year gilt advanced 3 basis points to 4.326 percent, and the 10-year gilt rose 3.6 basis points to yield 4.388. In the eurozone, meanwhile yields were ...
European bond market prepares for French referendum
by Brian TurnerIn the UK on Friday, yields on 2-year gilts were down 1.1 basis points to a yeild of 4.352 percent. Yields on longer-dated issues, however, were higher. The new 50-year gilt had a yield of 4.259 percent, up 2.8 basis points, the 30-year gilt advanced 3 basis points to 4.326 percent, and the 10-year gilt rose 3.6 basis points to yield 4.388. In the eurozone, meanwhile yields were ...
May 26, 2005
Yields on US Treasury bonds were mixed on Thursday, with the 2-year bond up 1.2 basis points to 3.635 percent, while yields on the 10-year bond fell 0.6 basis points to 4.084 percent. Meanwhile in London, the first auction in forty years of 50-year gilts in the UK worth £2.5 billion, received 1.6 times the bids for the amount offered. This was considered to be a reasonable ...
UK bonds create market demand
by Brian TurnerYields on US Treasury bonds were mixed on Thursday, with the 2-year bond up 1.2 basis points to 3.635 percent, while yields on the 10-year bond fell 0.6 basis points to 4.084 percent. Meanwhile in London, the first auction in forty years of 50-year gilts in the UK worth £2.5 billion, received 1.6 times the bids for the amount offered. This was considered to be a reasonable ...
May 25, 2005
US Treasury bonds saw prices fall and yields move higher on 10- and 30-year bonds on Wednesday, while the 2-year bond remained at its previous level of 3.603 percent. The 10-year bond rose 1 basis point to 4.046 percent and the 30-year bond yielded 4.386 percent. In Japan, the opposite was true as prices were up and yields were down, with the 10-year government bond losing 3 basis ...
Eurozone bonds volatile as bond market yields fall
by Brian TurnerUS Treasury bonds saw prices fall and yields move higher on 10- and 30-year bonds on Wednesday, while the 2-year bond remained at its previous level of 3.603 percent. The 10-year bond rose 1 basis point to 4.046 percent and the 30-year bond yielded 4.386 percent. In Japan, the opposite was true as prices were up and yields were down, with the 10-year government bond losing 3 basis ...
Europe’s elections impact Turkish economy
by Brian TurnerTurkey’s economy had entered a rough patch brought on by uncertainties over its bid to become a member of the European Union. These uncertainties have affected both the stock market and bond prices. Turkey’s stock index fell 4.5 percent on Monday after the announcement of early elections in Germany and fell a further .77 percent on Tuesday. Prices on the benchmark bond, to mature in 2006, fell and yields ...
May 24, 2005
Bond prices were generally up and yields down on Tuesday in Europe, the United States, and in Japan. In the UK, the 2-year gilt lost 2.2 basis points to yield 4.346 percent, and the 10-year gilt stood at a yield of 4.326 percent, down 3 basis points. Meanwhile, a sale of £4.25 million in index-linked bonds did well. Yields on eurozone bonds also fell under the influence of a ...
Bond yields down on economy fears
by Brian TurnerBond prices were generally up and yields down on Tuesday in Europe, the United States, and in Japan. In the UK, the 2-year gilt lost 2.2 basis points to yield 4.346 percent, and the 10-year gilt stood at a yield of 4.326 percent, down 3 basis points. Meanwhile, a sale of £4.25 million in index-linked bonds did well. Yields on eurozone bonds also fell under the influence of a ...
May 23, 2005
Yields were down and prices up on eurozone bonds on Monday. Yields dropped on the 2-year Schatz, which fell 2.3 basis points to 2.243 percent. The 10-year Bund saw yields drop 4 basis points to 3.333 percent, and the 30-year Bund fell 4.1 basis points to a yield of 3.795 at the close of trade. Earlier in the day,yields on the 30-year Bund had reached 3.785, a record low. In the ...
Eurozeon bonds suffer as Bund hits record low
by Brian TurnerYields were down and prices up on eurozone bonds on Monday. Yields dropped on the 2-year Schatz, which fell 2.3 basis points to 2.243 percent. The 10-year Bund saw yields drop 4 basis points to 3.333 percent, and the 30-year Bund fell 4.1 basis points to a yield of 3.795 at the close of trade. Earlier in the day,yields on the 30-year Bund had reached 3.785, a record low. In the ...
May 20, 2005
The Australian government is said to be thinking about raising the limit of foreign ownership in Telstra, the former Australian telecommunications monopoly that is currently in process of being privatized. With the current foreign participation level set at 35 percent, there is talk that this might be raised to 49 percent. The country’s finance minister, Nick Minchin, has been quoted as saying that there is no real difference ...
Australian government seeks to increase foreign ownership on Telstra
by Brian TurnerThe Australian government is said to be thinking about raising the limit of foreign ownership in Telstra, the former Australian telecommunications monopoly that is currently in process of being privatized. With the current foreign participation level set at 35 percent, there is talk that this might be raised to 49 percent. The country’s finance minister, Nick Minchin, has been quoted as saying that there is no real difference ...
Russian steel company to list
by Brian TurnerEvraz, the Russian steel company is making plans to offer shares on the London Stock Exchange. It becomes the latest Russian company to launch an initial public offering in London. Conglomerate Sistema completed a listing in February, and Russia’s largest grocery retailer, Pyaterochka, listed earlier this month. The listing, which is expected to begin trading shortly after the beginning of June, comes at a time when steel prices seem ...
London markets up as US gives strong performance
by Brian TurnerLondon equities markets ended both the day and the week up on Friday. The FTSE 100 was up 0.2 percent, closing at 4,971.8 for the day, with an overall rise of 1.8 percent for the week. The FTSE 250 was up 0.1 percent to 6,934.3 on the day, to bring the week’s gain to 2.1 percent. 2.7 billion shares were traded on Friday. Meanwhile, in ...
May 19, 2005
An unexpected rise in retail sales in the UK sent yields on gilts up on Thursday. The 2-year gilt yielded 4.372 percent, a rise of 2.4 basis points, while the yields on 20-year gilts rose 2.1 basis points to 4.365. Yields rose in the eurozone as well, with the 2-year Schatz rising 0.9 basis points to yield 2.244 percent, and the 10-year Bund going up 2.1 basis points ...
Gains on treasury bonds continues
by Brian TurnerAn unexpected rise in retail sales in the UK sent yields on gilts up on Thursday. The 2-year gilt yielded 4.372 percent, a rise of 2.4 basis points, while the yields on 20-year gilts rose 2.1 basis points to 4.365. Yields rose in the eurozone as well, with the 2-year Schatz rising 0.9 basis points to yield 2.244 percent, and the 10-year Bund going up 2.1 basis points ...
May 18, 2005
Yields on government bonds were generally down around the world on Wednesday. For example, yields were lower on Japanese government bonds on Wednesday as investors became more interested in long-dated issues. However, activity was fairly slow as investors awaited the results of a scheduled Bank of Japan policy meeting. Ten-year government bonds fell 2.5 basis points to yield 1.275 percent. 20-year bonds also were down by 2.5 basis ...
Government bonds down on economic concerns
by Brian TurnerYields on government bonds were generally down around the world on Wednesday. For example, yields were lower on Japanese government bonds on Wednesday as investors became more interested in long-dated issues. However, activity was fairly slow as investors awaited the results of a scheduled Bank of Japan policy meeting. Ten-year government bonds fell 2.5 basis points to yield 1.275 percent. 20-year bonds also were down by 2.5 basis ...
May 17, 2005
When France votes next week to accept or reject the European Constitution, the outcome could have wide ranging effects on European economics. In the event that the French reject the constitution, experts believe that there would be negative fallout for the euro, for eurozone equities and bonds, and even for Turkish assets. 72 percent of fund managers who specialize in European economic issues, who were polled by Merrill ...
Warning on European investments if France says “Non”
by Brian TurnerWhen France votes next week to accept or reject the European Constitution, the outcome could have wide ranging effects on European economics. In the event that the French reject the constitution, experts believe that there would be negative fallout for the euro, for eurozone equities and bonds, and even for Turkish assets. 72 percent of fund managers who specialize in European economic issues, who were polled by Merrill ...
UK 50-year gilt to open on bond markets
by Brian TurnerThe UK saw mixed yields in short-dated gilts but firmly lower yields on longer-dated issues on Tuesday after it was announced that a new 50-year gilt would be sold next week for the first time since 1960. The 2-year gilt was up 1.6 basis points to yield 4.354 percent, while the 10-year gilt was yielding 4.32 percent, down 2.8 basis points. In the eurozone, prices and yields were mixed ...
May 16, 2005
Commodities prices continued their slide on Monday, as gold hit a three-month low of $418.25 before rebounding to $419.00/9.70 after a Friday close of $420.00/420.80. Copper prices fell too, with production accelerating even as demand is slowing. Three-month copper was down $11, to $2993 a tonne. And, in undoubtedly the most-watched commodity, crude oil prices fell again on Monday. IPE Brent on June contracts was down 70 ...
Oil production slides Mynex prices
by Brian TurnerCommodities prices continued their slide on Monday, as gold hit a three-month low of $418.25 before rebounding to $419.00/9.70 after a Friday close of $420.00/420.80. Copper prices fell too, with production accelerating even as demand is slowing. Three-month copper was down $11, to $2993 a tonne. And, in undoubtedly the most-watched commodity, crude oil prices fell again on Monday. IPE Brent on June contracts was down 70 ...
UK gilt market waits on reports
by Brian TurnerIn the UK, the gilt market was waiting for several reports Monday. Consumer prices data and details concerning on the upcoming issue of a 50-year bond were due to be reported on Monday, and retail sales figures were expected to be released Thursday. Additionally, the central bank will meet on Tuesday. Consequently, yields moved very little if at all. Yields on the 2-year gilt were up 2.4 basis points ...
Chinese expands foreign investment opportunities
by Brian TurnerA report in the China Securities Journal indicates that the nation will raise the amount of money foreign investors will be permitted to invest in China’s primary markets. Already this year, China has given its permission for 26 foreign entities invest a total of $4 billion in over 1,300 Chinese companies, treasuries, and corporate bonds. That amount is expected to rise to a total of $10 billion under ...
May 13, 2005
Russia may soon reach an agreement with the Paris Club to repurchase some of its bilateral debt. Comments from the Kremlin have recently suggested that the Russian government would agree to an at-par buyback. This comes at a time when one of Russia’s largest creditors agreed in principle last month to an at-par buyback (100 percent of the debt’s face value). Previously, at least some of its creditors ...
Russia attempts to buy-back European debt
by Brian TurnerRussia may soon reach an agreement with the Paris Club to repurchase some of its bilateral debt. Comments from the Kremlin have recently suggested that the Russian government would agree to an at-par buyback. This comes at a time when one of Russia’s largest creditors agreed in principle last month to an at-par buyback (100 percent of the debt’s face value). Previously, at least some of its creditors ...
Pension fund investment to substantially return to Asia
by Brian TurnerAs part of a general return of US capital to Asia after a withdrawal after the 1997-98 Asian financial crisis, Calpers, one of the largest pension funds in the United States, is said to be close to making a substantial investment in Asian hedge funds. Calpers is the $181 billion pension fund that manages money for the California Public Employees Retirement System. It announced last November that ...