Four Seasons, Jumeirah Planning First Hotels in Brazil as Economy Recovers Nov 19, 2009
The reals gains have been driven in part by investors buying stocks and bonds on prospects the country is among those emerging fastest from the global financial crisis. Brazil won an investment-grade rating from Moodys Investors Service in September, putting it one level above high- yield or junk at all three major ratings companies. (Bloomberg -- Latin America)
S&P Says Argentine Defaulted Bond Focus Misguided as Fiscal Concerns Grow Nov 19, 2009
Nov. 19 (Bloomberg) -- Argentinas effort to restructure $20 billion of defaulted bonds is not a driving factor in Standard & Poors outlook on the credit rating, said , a Latin America sovereign ratings analyst at S&P. ... Argentina moved a step closer yesterday to a settlement when the Senate approved a bill that allows the government to make a restructuring offer to creditors who held their bonds out of a 2005 exchange that paid about 30 cents on the dollar ... The country halted... (Bloomberg -- Latin America)
Bond yields steady as supplies wane Nov 19, 2009
MUMBAI: Indian federal bond yields were steady on Thursday as prices were supported by ample cash levels in banks and the receding debt supplies provided some respite. At 1:53 p.m., the yield on the 10-year benchmark bond was at 7. (India Times)
US stocks end mainly lower Nov 19, 2009
Bonds weakened, with the yield on the 10-year US Treasury bond rising to 3. 366 percent from 3. (India Times)
Controlling foreign ownership of debt mention sends Indon rupiah down Nov 19, 2009
One could argue that foreign funds purchasing SBIs are speculative and unproductive, and that it would be far better for the government to find ways to divert foreign funds into other IDR (rupiah) instruments, such as IDR government and corporate bonds or shares, she said in her note to investors. On the other hand, Indonesias inadequate financial deepening lack of liquidity in bonds and share market will make it difficult to significantly divert foreign funds out of SBIs into alternative... (The Star Online, Malaysia -- Business)
Canada's Currency Depreciates as Crude Oil Pares Advance, Stocks Retreat Nov 19, 2009
Canadian government bonds fell, with the yield on the benchmark five-year note increasing two basis points, or 0. 02 percentage point, to 2. (Bloomberg -- Canada)
Academic Miyao Nominated to Replace Mizuno on Bank of Japan Policy Board Nov 19, 2009
In the same interview, Miyao said the central bank should resist increasing its purchases of government bonds to help finance fiscal spending. If the central bank caves in to pressure from the government and markets to ease its grip on the reserve target and bond buying, that would raise the risk of the bond market and yen plunging, he said. (Bloomberg -- Japan)
Will These Investments Fly? Nov 19, 2009
Investors who thought they were buying bonds have been left holding something closer to stock ... The U.S. is backing their traditional bonds in full. (BusinessWeek)
Temasek sells its first 30-year bonds Nov 18, 2009
Temasek, Singapores state investment company, sold its first ever tranche of 30-year bonds on Tuesday, just a month after completing its first bond sale in four years. The $500m of bonds were priced to yield 115 basis points more than comparable US Treasuries, offering investors a longer-term alternative to the $1 ... 5bn of 10-year bonds it issued last month. (FT.com -- Markets)
The long and winding road Nov 18, 2009
"While bonds offer certainty of income in retirement, they also forgo the growth, which can be a very large part of your wealth strategy," he says ... Managed funds that invest in fixed-interest securities of high credit worthiness and have sizeable exposures to government bonds will produce stable capital and recurring income, pretty much regardless of market gyrations ... They have been allocating less of their member's money to the traditional defensive investments such as investment-grade... (Sydney Morning Herald -- Business)
Mexico, Colombia Plan Samurai Bond Sale to Tap Funds From Japan Investors Nov 18, 2009
Nov. 18 (Bloomberg) -- Mexico and Colombia plan to sell Samurai bonds, joining Poland and the Philippines in turning to Japanese investors for funding as governments grapple with budget deficits. Mexico hired Daiwa Securities SMBC Co. and Nomura Securities Co. to help it sell 10-year Samurai bonds as soon as next month with backing from the state-owned , according a banker with direct knowledge of the plan ... Samurai bonds, or yen-denominated notes sold by foreign borrowers in Japan, yielded 1.... (Bloomberg -- Asia)
Canadian Dollar Touches Lowest in a Week as Investors' Risk Appetite Ebbs Nov 18, 2009
Canadian government bonds rose. The yield on the 10-year note dropped three basis points, or 0. (Bloomberg -- Canada)
Denmark Mortgage Bonds Lure Pimco as Annual Auctions of $115 Billion Begin Nov 18, 2009
Denmark Mortgage Bonds Attract Pimco as Annual Auctions Begin - Bloomberg ... Denmark Mortgage Bonds Attract Pimco as Annual Auctions Begin ... Denmarks mortgage bonds havent suffered a default since they were introduced after the great Copenhagen fire of 1795, according to Danske Bank. (Bloomberg -- Europe)
German Bonds Little Changed Before Sale of $8.9 Billion in Two-Year Notes Nov 18, 2009
German Bonds Stay Little Changed Before Two-Year Note Auction - Bloomberg ... German Bonds Stay Little Changed Before Two-Year Note Auction ... Nov. 18 (Bloomberg) -- German government bonds were little changed before the country sells 6 billion euros ($8. (Bloomberg -- Germany)
Gross: Junk, Mortgage Bonds Overvalued Nov 18, 2009
Bond market guru Bill Gross of Pimco says the recent rally in junk and mortgage bonds has sent those securities to overvalued levels. The easy money has been made in junk bonds, he told Bloomberg. (Newsmax)
Japanese 20-Year Bonds Little Changed Before Tomorrow's $12.3 Billion Sale Nov 18, 2009
Japanese 20-Year Bonds Little Changed Before Tomorrows Auction - Bloomberg ... Japanese 20-Year Bonds Little Changed Before Tomorrows Auction ... 3 billion) of new 20-year bonds. (Bloomberg -- Japan)
Just the facts Nov 17, 2009
Global Credit Market Watch November 13 - Bloomberg (William Selway): "US state and local governments sold $9.5 billion of bonds this week, led by California, as demand from investors allowed Connecticut to almost double the size of its offering of tax-exempt securities.". November 10 - Bloomberg (Laura Cochrane and Esteban Duarte): "Islamic bond issues surged this year as offerings from governments and state-related companies fostered a more efficient market, according to Moody's Global sales... (Asia Times Online)
Australian Dollar Falls From Near 15-Month High as Minutes Curb Rate Bets Nov 17, 2009
Australian government bonds gained for a sixth day. The yield on 10-year notes fell 10 basis points, or 0. (Bloomberg -- Australia & New Zealand)
Ten-Year Government Bonds Rise a Sixth Day on Signs of Deepening Deflation Nov 17, 2009
Japans 10-Year Bonds Advance a Sixth Day as Deflation Deepens - Bloomberg ... Japans 10-Year Bonds Advance a Sixth Day as Deflation Deepens ... Bonds also gained after Finance Minister reaffirmed a pledge to restrain debt sales. (Bloomberg -- Japan)
El Salvador Hires Citigroup, JPMorgan to Arrange Benchmark Dollar Bond Nov 17, 2009
El Salvador Plans to Sell Benchmark Dollar Bonds (Update2) - Bloomberg ... El Salvador Plans to Sell Benchmark Dollar Bonds (Update2) ... Nov. 16 (Bloomberg) -- El Salvador plans to sell benchmark dollar bonds in overseas markets after losing its investment-grade rating from Moodys Investors Service, according to a person familiar with the transaction. (Bloomberg -- Latin America)
Kansai Airport Bonds Premium Rises After Government Panel Freezes Grants Nov 17, 2009
Kansai Airport Bonds Premium Rises After Japan Freezes Grants - Bloomberg ... Kansai Airport Bonds Premium Rises After Japan Freezes Grants ... Nov. 17 (Bloomberg) -- The premium investors demand to hold bonds rose after a government panel said it will freeze grants to the airport as part of its effort to reduce wasteful spending. (Bloomberg -- Japan)
Japan's Yield Curve to Steepen on Bond Sale Concern, Nikko Cordial Says Nov 17, 2009
The difference in yields between Japans shorter- and longer-dated bonds will continue to expand moderately, he said ... The price of hedging against losses on $10 million of the countrys bonds with credit-default swaps soared this month to as much as $76,160 a year from $37,000 in August, as the new government planned record spending and borrowing even with tax revenue falling. (Bloomberg -- Japan)
Temasek launches global bond sale to raise US$500m Nov 17, 2009
com - Temasek launches global bond sale to raise US#dollar;500m. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
A Stimulus Success: Build America Bonds Are Working Nov 17, 2009
Build America Bonds: An Economic-Stimulus Success - TIME ... "People originally said it would eliminate the issuance of municipal bonds," says John Cummings, who is head of muni-bond investments at money-management firm PIMCO. "Instead they have stabilized the market and helped to create jobs." ... Observers say Build America Bonds have lowered borrowing costs for states and other local governments. (Time.com)
Yield Spread Narrows After Temasek's Second Dollar Bond Sale in Two Months Nov 17, 2009
Temaseks Second Bonds in Two Months See Yield Spreads Narrow - Bloomberg ... Temaseks Second Bonds in Two Months See Yield Spreads Narrow ... Nov. 17 (Bloomberg) -- The yield spread on second new bonds in two months narrowed on investor demand for sovereign debt in Asia. (Bloomberg -- Asia)
Members Equity Sells A$750 Million Residential Mortgage-Backed Securities Nov 17, 2009
Members Equity Sells A$750 Million of Mortgage Bonds (Update1) - Bloomberg ... Members Equity Sells A$750 Million of Mortgage Bonds (Update1) ... Nov. 17 (Bloomberg) -- Members Equity Bank Pty Ltd., the Australian lender known as ME Bank, sold A$750 million ($702 million) of residential mortgage-backed bonds. (Bloomberg -- Australia & New Zealand)
Swaps Signal Worst Yen Since '05 as Mounting Debt Overwhelms Market Demand Nov 16, 2009
The price of hedging against losses on $10 million of the countrys bonds with credit-default swaps soared this month to as much as $76,160 a year from $37,000 in August, as the new government planned record spending and borrowing even with tax revenue falling ... We went short the yen against the dollar and the euro about a month ago and then turned more aggressive on the trade as credit-default swaps rose and investors dumped Japanese bonds, he said, declining to specify the... (Bloomberg -- Japan)
Tax Revenue May Fall to $413 Billion on Slumping Japan Corporate Profits Nov 16, 2009
Declining tax revenue puts pressure on Prime Minister government to sell more bonds and increase the countrys , which is already the worlds largest. Finance Minister last month said tax receipts may drop below 40 trillion yen and the government will issue bonds to fill the gap ... on 10-year bonds reached 1. (Bloomberg -- Japan)
Brazilian McDonald's Wait For Argentine French Fries as Spat Hurts Peso Nov 16, 2009
28 percent dollar bonds due in 2033 fell 12 basis points last week to 12. 19 percent, according to JPMorgan Chase & Co. The peso rose 0. (Bloomberg -- Latin America)
Lack of Educated Construction Workers Hinders Brazil Builders Even, Cyrela Nov 16, 2009
The yield on the local-currency zero-coupon bonds due January 2011 rose 16 basis points, or 0. 16 percentage point, to 10. (Bloomberg -- Latin America)
New York Offering Will Lead Biggest Week for Muni Bond Sales Since April Nov 16, 2009
Nov. 16 (Bloomberg) -- U.S. state and local governments plan to sell the most fixed-rate bonds in almost seven months this week, including about $2. 5 billion of Build America Bonds and non-subsidized taxable issues ... 5 billion sale of bonds backed by revenue from the states personal income taxes. (Bloomberg -- US)
Price rules in private equity refloats Nov 16, 2009
Redgroup, the owner of the Borders and Angus & Robertson chains, has bonds that trade on the New Zealand stock exchange ... On Friday the bonds were being offered at just above the $100 face value; buyers were seeking to pay $94. (Sydney Morning Herald -- Business)
Canada Dollar Strengthens to One-Month High on Economic Recovery Outlook Nov 15, 2009
Government bonds rose for the week, pushing the yield on Canadas benchmark 10-year note down five basis points, or 0. 05 percentage point, to 3. (Bloomberg -- Canada)
German Two-Year Notes Gain for Fourth Week as ECB Set to Continue Stimulus Nov 15, 2009
European bonds may fall next week on speculation euro- region inflation picked up in October ... The ECB cut its main refinancing rate to 1 percent in May, began buying covered bonds and offered unlimited 12-month loans to banks, as it sought to pull the region out of its worst recession since World War II. ... German government bonds and U.S. Treasuries lost investors 0. (Bloomberg -- Germany)
Pound Climbs Against Dollar for Third Week on Signs U.K. Recession Easing Nov 15, 2009
The currency traded at a one-week low against the dollar on Nov. 12, a day after King said officials have an open mind on whether to keep buying bonds to boost the economy ... U.K. 10-year government bonds rose, with the yield on the 10-year gilt dropping 9 basis points in the week to 3. (Bloomberg -- UK)
* Wall Street keeps eye on US consumer Nov 15, 2009
Bonds fell on the week. The yield on the 10-year Treasury bond increased to 3. (Taipei Times, Taiwan -- World)
Dollar Drops as Europe's Economic Optimism Spurs Demand for Higher Yields Nov 15, 2009
Japanese government bonds posted their first weekly advance in more than a month, pushing the on the 10-year security to 1. 34 percent, the lowest level since Oct. 19. (Bloomberg -- US)
Treasury Yields Slip After Auctions as Stocks Gain Nov 14, 2009
Treasury yields slipped from Thursday when the government wrapped up $81 billion of debt auctions with its issue of $16 billion of 30-year bonds ... The quiet trading in bonds came as positive reports from The Walt Disney Co. and retailers Abercrombie Co. and J.C. Penney Co. offset a weak reading on consumer confidence. (ABC News -- Wire)
Pound Advances as British Airways Merger Spurs Optimism Economy Improving Nov 14, 2009
Officials have an open mind on whether to keep buying bonds, King said after the central bank published a report predicting that inflation will stay below its 2 percent target for most of the next three years ... U.K. 10-year government bonds fell, pushing the yield up 2 basis points to 3. (Bloomberg -- UK)
Treasury Yield Curve Steepens Amid Debt Actions, Fed Interest Rate Outlook Nov 14, 2009
Nov. 14 (Bloomberg) -- The between Treasury 2- year notes and 30-year reached the widest since July as the U.S. sold $81 billion in notes and bonds amid speculation the Federal Reserve will keep near record lows ... The U.S. sold $40 billion in three-year notes on Nov. 9, $25 billion of 10-year debt on Nov. 10 and $16 billion of 30- year bonds Nov. 12. (Bloomberg -- US)
* Business Briefs Nov 14, 2009
Taipower sells bonds ... 2 billion in bonds with terms from three years to 10 years, the Ministry of Economic Affairs said in a statement on its Web site yesterday ... 45 billion worth of three-year bonds with a yield of 1. (Taipei Times, Taiwan -- World Business)
Wall Street eyes US consumer to keep rally going Nov 14, 2009
Fred Dickson at DA Davidson said he is seeing some cracks in the rally fueled by a weaker dollar, which has led to borrowing to fuel investments in commodities, bonds and stocks ... Bonds fell on the week. (Yahoo! Asia News)
No country for gold men Nov 14, 2009
Let us phrase that again - in effect, the Bank of England would like interest rates (that is, the compensation for the lowest risk financial assets, namely short-term government bonds or bank deposits) to be lower than the running inflation in the economy: a scenario that would push investors to dump all savings in bonds and instead gamble on assets with a positive sensitivity to inflation, namely house prices or stocks. If you were to own government bonds - 10-year US Treasuries at present... (Asia Times Online)
Belarus Seeks Bids From Banks to Manage First Sale of International Bonds Nov 14, 2009
Nov. 13 (Bloomberg) -- Belaruss government is seeking bids from banks to manage its first sale of international bonds, joining former Soviet republics Russia, Kazakhstan and Ukraine in preparing for foreign debt sales next year ... Neighboring Russia, Belaruss biggest trading partner, sent officials to London this month to gauge investor interest in the sale of as much as $18 billion of bonds next year to help plug its budget gap ... The government of , who has run Belarus since 1994,... (Bloomberg -- Europe)
Panama Files Shelf to Sell Up to $2.5 Billion of Bonds, Warrants Overseas Nov 13, 2009
5 billion of bonds and warrants overseas after a boost to the countrys debt-rating outlook put it on the cusp of investment grade, according to a filing with the U.S. Securities and Exchange Commission ... Panama last sold bonds in international markets in March, when it issued $323 million in a reopening of 7 ... The extra yield investors demand to own Panamas dollar bonds instead of U.S. Treasuries has narrowed to 1. (Bloomberg -- Latin America)
Japanese Bonds Advance, Snapping Five-Week Losing Run, as Stocks Decline Nov 13, 2009
Japanese Bonds Rise, Snapping 5-Week Losing Run, as Stocks Fall - Bloomberg ... Japanese Bonds Rise, Snapping 5-Week Losing Run, as Stocks Fall ... The latest round of a bear market in bonds came to an end, said , chief strategist in Tokyo at Citigroup Global Markets Japan Inc., a unit of New York-based Citigroup Inc. Bonds will be boosted by falling stocks. (Bloomberg -- Japan)
Currency Falls From Three-Week High as Stocks, Commodities Prices Decline Nov 13, 2009
Government bonds were little changed, with the on Canadas benchmark two-year note falling one basis point, or 0. 01 percentage point, to 1. (Bloomberg -- Canada)
Turbo Power Systems Inc. (TPS) Announces Results for the Third Quarter and Nine Months Ended 30 September 2009 Nov 13, 2009
04 million associated with performance bonds ... 04 million associated with performance bonds ... Interest expenses arise from the issue of convertible bonds in March 2005 and June and August 2008 and comprise. (CCNMatthews Press Releases)
Treasury Prices Recover After 30-Year Sale Nov 13, 2009
Long-term treasury prices finished Thursday moderately higher, recovering from a drop immediately following an auction of 30-year bonds ... Tom Porcelli, a market economist at RBC Capital markets, said results for the government's sale of $16 billion in 30-year bonds came in as expected ... 92 at auctions in the previous two months for bonds with a similar maturity. (ABC News -- Wire)
Treasury Bond Market at a Glance Nov 13, 2009
Municipal bonds(1) 5 ... (1)Bond Buyer index of 40 actively traded municipal bonds. (ABC News -- Wire)
Stocks Fall as Dollar Rebounds Nov 13, 2009
Treasury prices rose after a disappointing auction of $16 billion in 30-year bonds. The 10-year yield, which moves in the opposite direction of price, reversed down to 3. (BusinessWeek)
Raytheon wins $197m Navy contract Nov 13, 2009
The bonds priced to yield 4. 431 percent, or 95 basis points more than similar-maturity Treasuries, Bloomberg data show. (Boston Globe)
EDITORIAL: Too much borrowing takes state to the financial brink Nov 13, 2009
Debt for bonds looms over state ... Fresno already has nearly $1 billion in outstanding debt, mostly in bonds, and there's no guarantee the city can keep making annual payments without having to dip into funds now used for vital services ... 9 billion in state general obligation bonds originally thought investors would demand a 3% yield. (Fresno Bee)
Asia Commodity Stocks Fall, Bonds Rise; China Shares Rally on Yuan Outlook Nov 13, 2009
Asian Commodity Stocks Fall, Bonds Rise; China Shares Rally - Bloomberg ... Asian Commodity Stocks Fall, Bonds Rise; China Shares Rally ... Nov. 13 (Bloomberg) -- Asian commodity stocks declined, led by and PetroChina Co., and bonds climbed on concern the pace of the global economic recovery will slow. (Bloomberg -- Asia)
Puerto Rico's `Dicey' Bonds Beat U.S. States as Fortuno Shrinks Government Nov 13, 2009
Dicey Puerto Rico Bonds Beat U.S. States as Fortuno Cuts Jobs - Bloomberg ... Dicey Puerto Rico Bonds Beat U.S. States as Fortuno Cuts Jobs ... Nov. 13 (Bloomberg) -- Governor declaration of a fiscal emergency hasnt deterred investors from buying Puerto Ricos bonds, which have returned 20 percent this year, more than any U.S. state. (Bloomberg -- Latin America)
Australian Dollar Jumps to Highest in 15 Months on Unexpected Job Gains Nov 12, 2009
Australian government bonds gained for a third day. The yield on 10-year notes fell four basis points, or 0. (Bloomberg -- Australia & New Zealand)
High yield investors turn to CDS swaptions to protect record 2009 gains Nov 12, 2009
While consensus grows that junk bonds are overbought, the timing of a correction is anybodys guess given the technical factors driving the current rally ... If high yield bonds perform well rather than correcting downward, the swaption holder still profits through the call ... The subtext to the rise of HY CDX swaptions is the mounting worry about how long junk bonds can keep up their record run. (FT.com -- Markets)
Editorial: Debt binge takes state to the brink Nov 12, 2009
9 billion in state general obligation bonds originally thought investors would demand a 3 percent yield. Instead, as the Los Angeles Times reported Wednesday, "the state was forced to offer a 4 percent annualized tax-free yield to lure investors.". (Sacramento Bee -- Opinion)
Argentina's Grimoldi Waiting on Government Bond Restructuring to Sell Debt Nov 12, 2009
Grimoldi May Sell Bonds Following Argentinas Restructuring - Bloomberg ... Grimoldi May Sell Bonds Following Argentinas Restructuring ... Nov. 11 (Bloomberg) -- , Argentinas biggest maker of non-athletic footwear, may sell international bonds next year to finance investment and extend maturities once the government completes a restructuring of about $20 billion of defaulted debt, said company President. (Bloomberg -- Latin America)
Boston's Suffolk University to Lead Tax-Exempt Bond Sales With Refinancing Nov 12, 2009
The boost for potential holders of about $288 million in tax-exempt bonds and $22 million in taxable notes led the firm to give Suffolk a positive outlook on its Baa2 rating, the second-lowest investment grade ... Suffolk may be able to use the enhanced provisions to argue for lower borrowing costs, as investors demand the largest extra yield in two months to buy tax-exempt bonds rated BBB instead of top-rated offerings ... 04 percent on 10-year bonds at a Nov. 10 auction. (Bloomberg -- US)
Market Watch: Sensex recovers on IIP data; IT, Capital goods up Nov 12, 2009
Tata Steel launched an exchange offer of new foreign currency convertible bonds for the existing $875,000,000 Convertible Alternative Reference Securities due 2012. The CARS have a yield to maturity of 5. (India Times)
Sino-Forest Reports Strong Third Quarter 2009 Results Nov 12, 2009
14) ------------------------------------------------------------------------- Retained earnings Retained earnings, beginning of period 837,611 598,892 769,557 540,964 Net income for the period 105,617 75,175 173,671 133,103 ------------------------------------------------------------------------- Retained earnings, end of period 943,228 674,067 943,228 674,067 -------------------------------------------------------------------------... (Canada Newswire)
Japanese, U.S. Bonds Rally on Deflation Outlook as Asian Stocks Lose Gains Nov 12, 2009
Bonds Rally on Subdued Inflation Outlook; Asian Stocks Retreat - Bloomberg ... Bonds Rally on Subdued Inflation Outlook; Asian Stocks Retreat ... Nov. 12 (Bloomberg) -- Japanese and U.S. government bonds rose after central bank officials signaled inflation doesnt pose a threat and Japan reported a 10th month of declines in producer prices. (Bloomberg -- Asia)
Ten-Year Bonds Gain Most in 11 Months; Deflation Signs Spur Auction Demand Nov 12, 2009
Japans 10-Year Bonds Gain Most in 11 Months on Deflation Signs - Bloomberg ... Japans 10-Year Bonds Gain Most in 11 Months on Deflation Signs ... Support for bonds is weakening as the anxiety over deteriorating fiscal discipline is spreading, said , a fund manager in Tokyo at Daiwa SB Investments Ltd., a unit of Japans second-largest securities broker. (Bloomberg -- Japan)
Westpac Banking Corp. Sells A$2.5 Billion of Five- and Seven-Year Bonds Nov 11, 2009
5 Billion of Five- and Seven-Year Bonds - Bloomberg ... 5 Billion of Five- and Seven-Year Bonds ... 3 billion) of five- and seven-year bonds. (Bloomberg -- Australia & New Zealand)
