Equity-linked debt in RBI glare Nov 18, 2009
The move, the market feels, may be harbinger to a new set of dos and donts on these instruments whose returns may be linked to stock indices, individual shares, money market rates (like overnight index swaps) and even commodities. Over Rs 15,000 crore of such structured debts are outstanding in the market. (India Times)
Dollar rises on rates speculation Nov 5, 2009
December interbank futures and implied money market rates show investors are mulling a 58-60 per cent chance of a 25-basis-point rate rise next month. Aussie bond futures stayed in the red after tracking losses in Treasuries earlier, ahead of next week's $US81 billion Treasury auction. (Sydney Morning Herald -- Business)
Daylight Resources Trust Reports Third Quarter 2009 Financial and Operating Results- Significant Operational Results Validate Resource Play Strategy on Multiple Fronts Nov 5, 2009
The credit facilities bears interest based on the lenders' prime rate and/or at money market rates plus a stamping fee. On October 8, 2009 in conjunction with the acquisition of Highpine Oil & Gas Limited ("Highpine") (see note 15), the facilities were reviewed and increased to $500 million. (CCNMatthews Press Releases)
Why Libor concerns persist Oct 14, 2009
The year-long fall in money market rates appears to be over. London Interbank Offered Rates, or Libor, are at record lows for dollars, euro and sterling, leading many pundits to say that they cannot fall much further. (FT.com -- Markets)
Dollar holds near 14-month highs Oct 7, 2009
Money market rates show a 74 per cent chance of a 25-basis-point hike. For December, interbank futures show investors see a 40 percent chance of a further rise to 3. (Sydney Morning Herald -- Business)
Dollar slips from 14-month highs Oct 1, 2009
Implied money market rates show investors are now mulling a one-in-three chance of a move next week, up from just a one-in-five chance on Tuesday. Aussie bond futures bounced on Thursday after two days of heavy losses, as investors squared up ahead of the payrolls report. (Sydney Morning Herald -- Business)
Uganda: Offshore Investors Help Shore-Up Shilling Sep 7, 2009
The central bank late last month announced it planned "frequent" interventions, mainly with repos from September to help stabilise short-term money market rates. Short-term rates in Uganda usually run on a two-week cycle, rising one week and falling the next, and rates creep up during a crunch following the end of the fiscal year and another mini-tightening in December. (allAfrica.com)
Dollar steady despite rates fever Sep 3, 2009
For now, investors are fully priced for a 25-basis-point hike in November, with implied money market rates showing around 175 basis points of hikes next year. As it is, Australia's 3 per cent interest rate is the highest in the world among developed economies. (Sydney Morning Herald -- Business)
Uganda: Uganda's Trade Surplus Hits $19m Aug 28, 2009
Uganda's central bank plans "frequent" interventions mainly with repos from September to help stabilise short term money market rates, its director of financial markets said on Thursday. Short-term rates in east Africa's third largest economy usually run on a two-week cycle, rising one week and falling the next, and rates creep up during a crunch following the end of the fiscal year and another mini-tightening in December. (allAfrica.com)
Dollar bounces off lows on data surprise Aug 27, 2009
Implied money market rates show investors bet rates may rise 163 basis points in the next 12 months. Reuters. (Sydney Morning Herald -- Business)
Dollar-Yen Borrowing Cost Spread Contracts to Tightest Level Since 1993 Aug 20, 2009
When there are virtually no interest rate differentials between Japan and the rest of the developed economies, the narrowing gap between short-term money market rates wont affect the yen, Sakasai said. It is the gap for long-term yields that will direct the direction of dollar-yen. (Bloomberg -- Japan)
NuVista Energy Ltd.: Second Quarter Interim Report Aug 14, 2009
These advances bear interest at the bank's prime rate and/or at money market rates plus a stamping fee. The credit facility is secured by a first floating charge debenture, general assignment of book debts and the Company's oil and natural gas properties and equipment. (CCNMatthews Press Releases)
Dollar pumped up by jobs surprise Aug 6, 2009
Implied money market rates show investors pricing in 10 basis points of tightening as early as October, from a record low of 3 per cent now. "I'm not seeing any rational reason why the RBA would delay lifting rates to a still exceptionally stimulatory 3.25 per cent in December," said Adam Carr, an analyst at ICAP.. (Sydney Morning Herald -- Business)
Daylight Resources Trust Reports Second Quarter 2009 Financial and Operating Results- RECORD PRODUCTION DRIVES INCREASED FUNDS FROM OPERATIONS Aug 6, 2009
This MD&A also compares the results of the six months ended June 30, 2009 ("YTD 2009") to the six months ended June 30, 2008 ("YTD 2008). All references are to Canadian dollars unless otherwise indicated.NON-GAAP MEASURESDaylight Resources Trust ("Daylight" or the "Trust") utilizes the following terms for measurement within the MD&A that do not have standardized prescribed meaning under GAAP and these measurements may not be comparable with the calculation of similar measurements of other... (CCNMatthews Press Releases)
Dollar rises as RBA drops easing bias Aug 4, 2009
Implied money market rates show investors are pricing in rate hikes of 152 basis points over the next year. If the RBA does indeed eventually raise rates, it would likely be the first central bank in the developed world to do so, and that would further boost the Aussie's yield allure. (Sydney Morning Herald -- Business)
CNP Assurances: First-Half 2009 Premium Income and Results Jul 31, 2009
The decrease reflected the decline in net insurance revenue from proprietary portfolios caused by the lower return on equities and the reduction in money market rates. Administrative expenses increased overall by 6. (PR Newswire)
China Central Bank Pledges to Control Lending Growth With `Market Tools' Jul 30, 2009
China Pledges to Control Loans With Market Tools (Update1) - Bloomberg. Updated: New York, Jul 30 04:11 London, Jul 30 09:11 Tokyo, Jul 30 17:11. (Bloomberg -- Asia)
Polish Central Bank Near End of Cycle of Interest-Rate Cuts, Survey Shows Jul 29, 2009
The central banks 10-member Monetary Policy Council, whose term ends early next year, wont risk further easing with money market rates falling and the seven-day rate, adjusted for inflation, at zero. That contrasts with Hungary, where policy makers lowered the benchmark rate two days ago by a percentage point, double analysts expectations, and forward-rate agreements prices show borrowing costs falling a further three quarters of a point in the next six months. (Bloomberg -- Europe)
Union Bankshares Corporation Reports Earnings Jul 25, 2009
Following expiration of the offer, yields for these money market deposits adjusted to the Company's regular money market rates, which at the time were 1. 60% or lower. (PR Newswire)
Wit & wisdom Jul 24, 2009
"I'm just waiting for the money market rates to go up," Rickey explained. -- "If they're going to pay me like (Mike) Gallego, I'm going to play like Gallego," on negotiating with the A's in the early '90s. (San Francisco Chronicle -- Sports)
CPI result pushes dollar higher Jul 22, 2009
Most analysts expect the RBA to start raising rates from June next year, with implied money market rates showing interest rates are expected to climb 90 basis points in the next 12 months. Speculation of rising local rates enhances the Aussie's yield allure and could further bolster the currency, especially against the US dollar. (Sydney Morning Herald -- Business)
China's asset bubble to grow bigger Jul 18, 2009
The Peoples Bank of China has pushed up money market rates and is conducting more vigorous open market operations; the banking regulator has ordered banks to cease lending frenzies that dress up their balance sheets at the end of every month; and some cities have tightened mortgage rules for second homes. But this is finger-wagging, not a slap across the face. (India Times)
China's reserves transcend $2 trillion Jul 16, 2009
The central bank has used bill sales to push up money market rates for three weeks, seeking to tighten monetary policy without choking off a recovery as the surge in money supply increases the risk of asset bubbles, bad loans and resurgent inflation. China's reserves are double those of Japan, the country with the second-biggest foreign currency holdings. (Business Report, South Africa)
Historic lows for Libor raise lending hopes Jul 15, 2009
Money market rates plunged to fresh lows on Tuesday, boosting hopes that lower lending costs could stimulate the banking system. Key three-month lending costs in the euro fell for the 25th consecutive day, while sterling plunged for a 19th day in a row. (FT.com -- Markets)
Regional bank's $433m offering, thanks to Rudd Jul 10, 2009
6 per cent over short-term money market rates. It will bring in much-needed funds for Wide Bay and allow it to keep on issuing mortgages. (Sydney Morning Herald -- Business)
Guilin Sanjin, Wanma Jump in Debuts as China Investors Chase New Shares Jul 10, 2009
The resumption of share sales has helped push money market rates higher. The seven-day Shanghai Interbank Offered jumped to 1. (Bloomberg -- Asia)
Hong Kong Banks `Killing Themselves' Cutting Mortgage Rates to Record Low Jun 30, 2009
Falling money market rates have underpinned the mortgage price battle. The three-month fell as low as 0. (Bloomberg)
Africa means business Jun 16, 2009
Certain returns above money market rates with no risk. Sounds too good to be true, but it isn't. (iAfrica.com)
Latvia Vows to Defend Currency as Speculation Grows Lats Will Be Devalue Jun 6, 2009
Yesterdays failed auction was not surprising amid negative sentiment and the spike in money market rates, Fitch said. Latvias shallow financial markets and a lack of counterparties make it difficult for the market to launch a speculative attack against the currency. (Bloomberg -- Europe)
Fall in Libor not the full story Jun 4, 2009
Money market rates have fallen dramatically since peaking in October last year, helping to raise hopes that the credit crisis is easing. The drop in these rates, known as London Interbank Offered Rates (Libor), signals a sharp improvement in market sentiment at a time when central bank interest rates are at historically low levels. (FT.com -- Markets)
Money market rates rise on bank fears May 27, 2009
Key money market rates rose for the first time in more than two months amid worries that the economic revival could stall as the financial health of banks remains fragile. The cost of borrowing dollars between banks over three months, or dollar London interbank offered rates, on Tuesday rose for the first time since March 26. (FT.com -- Markets)
European Central Bank cuts rates, will pump up euros May 8, 2009
Money market rates have hit record lows in recent weeks in response to the ECB's generous liquidity provision and interest rate cuts but lending growth to firms and households is still slowing. Earlier Thursday, the ECB cut its interest rate on its marginal lending facility used to lend money to banks overnight by a half a point to 1. (USA Today -- Money)
Daylight Resources Trust Reports First Quarter 2009 Financial and Operating Results - RECORD PRODUCTION CONTINUES TREND AS DAYLIGHT BUILDS FOR THE FUTURE May 7, 2009
The credit facility bears interest based on the lenders' prime rate and/or at money market rates plus a stamping fee. The facility is secured with a demand debenture of $500 million over the petroleum and natural gas assets and is subject to semi-annual review where the lenders may re-determine the borrowing base. (CCNMatthews Press Releases)
This year's strong rand performance points to rally reversal May 6, 2009
The rand even beat the Brazilian real, which offers higher money market rates. Traders are now stepping up bets that the country's manufacturers won't be able to withstand a stronger rand, which makes their goods more expensive to foreign buyers. (Business Report, South Africa)
Bonds Show Lehman Bankruptcy Fading Into History as Credit Spreads Narrow May 5, 2009
Now, the record pace of corporate bond sales, declining money market rates and a drop in mortgage costs all suggest the global economy is on the mend. In the government debt market, yields on 10-year notes exceed those of two-year securities by at least 1 percentage point in all the G-7 nations for the first time since before 1991, according to data compiled by Bloomberg. (Bloomberg)
Norbord reports first quarter 2009 results Apr 29, 2009
Note 6 - Long-Term Debt ----------------------- Mar 28 Dec 31 (US $ millions) 2009 2008 ------------------------------------------------------------------------- Principal value 7 1/4% debentures due 2012 $ 240 $ 240 Senior notes due 2017 200 200 Revolving bank lines 72 57 Brookfield debt facility - 35 ------------------------------------------------------------------------- 512 532 Debt issue costs (4) (4) Deferred interest rate swap gains 7 8 Unrealized interest rate swap gains (notes 5 and 7)... (Canada Newswire)
Money market rates continue to fall Apr 29, 2009
Money market rates have fallen sharply since the start of April, amid increasing signs that banks are starting to lend to each other. Three-month sterling interbank rates fell for a 44th consecutive day on Tuesday, while US dollar rates fell for the 22nd day in a row and euro rates dropped for a fifth successive day. (FT.com -- Markets)
Japan's 10-Year Yields Approach 5-Month High Before 20-Year Debt Auction Apr 20, 2009
The BOJ may also cut rates to zero in order to further help short-term money market rates. . (Bloomberg -- Japan)
Further ECB Rate Cut Would Be by 25 Bps: Trichet Apr 20, 2009
By Marc Jones April 19, 2009 FONT SIZE. FRANKFURT (Reuters) - European Central Bank President Jean-Claude Trichet on Sunday signaled the bank's likely next move, saying it could cut its headline interest rate but only by an additional 25 basis points. (ABC News -- Wire)
Croatia—2009 Article IV Consultation, Concluding Statement Apr 10, 2009
But interbank money market rates have been very volatile, often hovering well above the refinancing rates of the CNB.. 6. (IMF News)
Nigeria: CBN Cuts Interest Rate to Boost Lending Apr 9, 2009
Soludo explained that the cut the MPR was based upon the realisation by its MPC that the domestic money market rates have been under pressure since February 2009. He noted: "The weighted average inter-bank call rate went up from 17.62 per cent in February to 22.15 per cent in March. The collateralised open buy back (OBB) however, was lower than the monetary policy rate (MPR). The deposit and lending rate too have inched up.". (allAfrica.com)
Australia cuts rate to record low of 3% Apr 8, 2009
The last time money market rates were this low was around 1960. The stance of monetary policy, together with the substantial fiscal initiatives, will provide significant support to domestic demand over the period ahead, Stevens said in a brief statement announcing the decision. (The Star Online, Malaysia -- Business)
Why fixed deposits rule Apr 5, 2009
Money market rates to drop to 5 ... Money market rates may drop to low levels of 5. (iAfrica.com)
Japan's Bonds Gain as Recession Concerns Outwigh U.S. Bank Plan Optimism Mar 24, 2009
Japans Bonds Gain as Economic Concern Outweighs U.S. Bank Plan - Bloomberg. Updated: New York, Mar 24 03:55 London, Mar 24 07:55 Tokyo, Mar 24 16:55. (Bloomberg -- Japan)
Asia Money Rates, Bond Risk Drop as Fed Bond Buying May Ease Credit Crunch Mar 19, 2009
March 19 (Bloomberg) -- Asia-Pacific money market rates fell and the cost of protecting bonds from default dropped on optimism the Federal Reserves plan to buy more than $1 trillion of bonds will ease a global credit crunch. Australian fell 3 basis points to a record 3. (Bloomberg -- Asia)
Bonavista Energy Trust Announces 2008 Year End Results Mar 3, 2009
These advances bear interest at the banks' prime rate and/or at money market rates plus a stamping fee. The facility is a three year revolving credit and may, at the request of the Trust with the consent of the lenders, be extended on an annual basis. (CCNMatthews Press Releases)
Penn West announces its results for the fourth quarter ended December 31, 2008 Feb 19, 2009
The interest rates on the balance of the Company's bank debt are subject to fluctuations in the short-term money market rates as bank debt is generally held in short-term, floating interest rate debt instruments. As at December 31, 2008, 28 percent (2007 - 65 percent) of our long-term debt instruments were exposed to changes in short-term interest rates and 72 percent (2007 - 35 percent) of our long-term debt instruments contained fixed interest rates (including the effects of interest rate... (PR Newswire)
Japanese Government Bonds May Rise; Slump in Stocks to Boost Debt Demand Feb 17, 2009
Updated: New York, Feb 17 03:26 London, Feb 17 08:26 Tokyo, Feb 17 17:26. Japanese Bonds Gain on Optimism BOJ to Lower Money-Market Rates. (Bloomberg -- Japan)
B&B investors told: sign or else Feb 8, 2009
5 per cent and 6 per cent above short-term money market rates. The group will have a further nine years to return the outstanding $2. (Sydney Morning Herald -- Business)
Inflation rate plummets to 9.5% Feb 7, 2009
Money market rates are pricing in a full percentage point cut next week, according to Ian Cruickshanks, the head of strategic research at Nedbank Capital. Jeff Gable, Absa Capital's head of research, said yesterday that South Africa was already in recession. (Business Report, South Africa)
