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May 21, 2008
by Peter Charalambous
Moody's Investors Service has cut Pakistan's credit rating for the first time in nine years amid growing fear that the current spate of economic imbalances and political tension caused falling stocks.
Moody's cut the government bond ratings to B2 from B1, which equates to five levels below investment grade.
The country’s financial position has been weakened by fiscal loosening and poor tax collection ...
May 9, 2008
by Peter Charalambous
The European Central Bank (ECB) and the Bank of England (BoE) have left interest rates unchanged today and that has translated in positive effects on bonds and gilt yields.
U.K. government bonds have increased for five consecutive weeks and this trend has been accentuated by the Bank of England’s decision to not cut interest rates further in order to curb inflation. ...
February 13, 2008
by Elisha Sanders
Spanish bankers are making moves to address the closed state of the wholesale money market so far this year, by accruing assets to form a 'war chest' that would be used as collateral for accessing European Central Bank credit.
Spain has seen large-scale increase in mortgage credit in the last few years, with this increase being largely due ...
February 12, 2008
by Elaine Frei
The euro gained on the US dollar and the yen after a new survey showed that German investor confidence grew in February and after a German official said he does not see any need for change in Eurozone monetary policy.
In early afternoon trade in New York, the euro traded at $1.4588 per euro, at ¥156.5564 to the euro and at ...
October 11, 2007
by Elaine Frei
Prices were lower on US Treasury bonds Thursday and yields rose on new data showing that there were 12,000 less new unemployment claims filed last week than the week before while the four-week average for jobless filings dropped by 3,000.
In addition, import prices were 1 percent higher in September while export prices were only up 0.3 percent in the month.
Two-year ...
September 27, 2007
by Elaine Frei
US Treasury bond prices were up again on Thursday after demand for an auction of 5-year paper showed that foreign investors are still interested in buying US debt and on a report that the sale of new homes dropped 8.3 percent in August.
The housing news encouraged the sentiment that the Federal Reserve will cut interest rates again in October.
Two-year ...
September 26, 2007
by Elaine Frei
Prices for US Treasury bonds were a bit higher on Wednesday after an auction of two-year bonds attracted a respectable demand and after equities markets declined from early highs.
Two-year Treasury bonds yielded 3.98 percent, down from 4 percent on Tuesday afternoon, while five-year issues were yielding 4.26 percent.
Ten-year paper was at a yield of 4.62 percent, while thirty-year bond yields ...
September 24, 2007
by Elaine Frei
Two-year and five-year US Treasury bonds held steady on Monday afternoon in New York, while prices on ten-year and thirty-year bonds were slightly higher, sending yields down a bit.
While many investors expect that the Federal Reserve will cut interest rates again at its October meeting, that assumption has already been priced into the market and is not likely to change ...
September 21, 2007
by Elaine Frei
Prices were higher on US Treasury bonds Friday and yields dropped as several officials of the Federal Reserve made comments indicating that investors should not look at this week’s interest rate cut by the Fed as a bail-out for them.
One of them, Fed vice-chairman Donald Kohn, speaking at a conference in Frankfurt, German, said that Fed officials focus “sharply on the ...
September 18, 2007
by Elaine Frei
There were mixed results among US Treasury bonds after the Federal Reserve decided to cut interest rates by 0.5 percent to 4.75 percent on Tuesday.
Prices were up and yields lower on shorter-dated notes, but prices fell and yields rose on longer dated issues.
Two-year Treasury bonds yielded 3.982 percent at late afternoon and five year paper was yielding 4.170 percent, ...
September 14, 2007
by Elaine Frei
Yields on US Treasury bonds were higher on Friday and prices declined as analysts and investors decided that the Federal Reserve will likely only cut interest rates by a quarter of a percentage point when it meets next week, rather than the by the half a percentage point that many had hoped for.
Prices on bonds fell on new data ...
September 11, 2007
by Elaine Frei
Yields were higher on US Treasury bonds Tuesday on rising equities and after a speech by Federal Reserve chairman Ben Bernanke didn’t mention interest rates or the US economy at all.
Investors had hoped that Mr. Bernanke would make some remarks that might hint and what the Fed is considering doing about interest rates, although some analysts took his lack of comment ...
September 7, 2007
by Elaine Frei
Yields on US Treasury bonds fell Friday on new data that showed a loss of 4,000 jobs in the US in August despite expectations that over 100,000 jobs would be created during the month.
The new data has most analysts expecting that the Federal Reserve will cut US interest rates when it meets later this month, with some predicting that it will ...
September 5, 2007
by Elaine Frei
Prices on US Treasury bonds were higher Wednesday, sending yields lower, after new data on home sales and labor that brought up questions about how the recent problems in credit markets are affecting the wider economy.
While the National Association of Realtors reported that pending home sales were down 12.2 percent in July, a new jobs survey by Automated Data Processing Inc estimated ...
August 31, 2007
by Elaine Frei
Prices on US Treasury bonds were down slightly on Friday ahead of the three-day Labor Day weekend in the United States.
Yields on two-year treasury bonds were at 4.14 percent Friday while five-year issues were yielding 4.25 percent, ten-year yields were at 4.53 percent and thirty-year paper yielded 4.82 percent.
Bond prices were affect by comments from Federal Reserve chairman Ben ...
August 30, 2007
by Elaine Frei
Yields on US Treasury bonds were lower on Thursday as financial stocks dropped on continuing concerns surrounding mortgages.
Two-year Treasury bonds yielded 4.09 percent, while five-year issues were at a yield of 4.22 percent.
Meanwhile, ten-year yields fell to 4.5 percent and thirty-year paper yielded 4.82 percent.
August 27, 2007
by Elaine Frei
US Treasury bond prices rose and yields fell in light trade as UK markets took a holiday and many investors took the week off ahead of next Monday’s Labor Day holiday in the United States.
Prices rose as concerns about weakness in the US economy persisted when new data showed that existing homes sales dropped in July for the fifth month in a ...
August 23, 2007
by Elaine Frei
Prices were higher on US Treasury bonds on Thursday on comments made on a cable television network by the CEO of Countrywide Financial (NYSE: CFC).
Despite the fact that Bank of America (NYSE: BAC; TYO: 8648) said it would buy $2 billion worth of Countrywide shares, lessening pressure on the mortgage lender, investors paid more attention when Countrywide’s CEO said that problems in ...
August 22, 2007
by Elaine Frei
A speech by Richmond Federal Reserve president Jeffrey Lacker on Tuesday, in which he said there will only be a cut in interest rates if the current market volatility has a visible effect on the economy sent US Treasury bond prices lower on Wednesday.
With the possibility of a rate cut fading and equities markets seeing gains, yields on two-year ...
August 20, 2007
by Elaine Frei
Yields on US Treasury bonds were lower and prices higher as investors once again looked for safe places to put their money.
Two-year Treasury bonds yielded 4.13 percent, down from 4.19 percent on Friday, while five year issues were yielding 4.32 percent.
Ten-year paper were at a yield of 4.65 percent, down from 4.69 percent on Friday.
The thirty-year bond dropped from a yield ...
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