Britain's unemployment rate unexpectedly fell for a second month in a row to 4.9% in the December-to-February period, most of which the country spent under a tight COVID-19 lockdown, official figures showed on Tuesday.
Abu Dhabi National Energy Company, owned by Abu Dhabi state-owned holding company ADQ, has given its initial price guidance for dual-tranche U.S. dollar-denominated bonds, a document showed on Tuesday. It gave initial guidance of around 110 basis points over U.S. Treasuries for a seven-year tranche and around 3.75% for a 30-year Formosa portion, the document showed.
* Benchmark 10-year U.S. Treasury yields rise above 1.6% * Dollar drops to near seven-week low. * Spot gold may slide into $1,744-$1,758/oz range - technicals. By Brijesh Patel. Gold prices inched lower on Tuesday after hitting a seven-week high in the previous session, as a rebound in U.S. Treasury yields eclipsed support from a weaker dollar.
China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations. The one-year loan prime rate was kept at 3.85%. The five-year LPR remained at 4.65%. Twenty-seven traders and analysts of 30 participants in a Reuters poll this week predicted no change in either rate.
Gold prices edged lower on Tuesday,
moving away from a seven-week high hit in the last session, as a
rebound in U.S. Treasury yields overshadowed support from a
sagging dollar.
Charter Communications Inc (CHTR): * CHARTER PRICES $1.0 BILLION SENIOR UNSECURED NOTES. * 2033 NOTES WILL BEAR INTEREST AT A RATE OF 4.500% PER ANNUM Source text for Eikon: Further company coverage:
The following are the top stories on the business pages of British newspapers. The Times. - The Bank of England and the Treasury have announced that they are setting up a taskforce to explore the possibility of a central bank digital currency.
The dollar slumped to a six-week low against other major currencies on
Monday as markets sorted out the plunge in U.S. Treasury yields last week after the Federal Reserve
reiterated that any spike in ...
* Citi raises palladium 0-3 month forecast to $3,200/oz. * Dollar index hits six-week low. * Palladium jumps to over 1-year high. By Eileen Soreng. Gold retreated from a more than seven-week peak on Monday as U.S. Treasury yields gained, weighing on non-yielding bullion's appeal and countering support from a weaker dollar.
The BlackRock Investment Institute said on Monday the economic restart, stabilising U.S. Treasury yields and relatively cheap valuations will boost emerging market assets after a choppy start to 2021.
Federal National Mortgage Association : * FANNIE MAE PRICED $879 MILLION MULTIFAMILY DUS REMIC UNDER ITS GEMS PROGRAM Source text for Eikon: Further company coverage:
* MOODY'S SAYS CHANGES PAPUA NEW GUINEA'S OUTLOOK TO NEGATIVE FROM STABLE; AFFIRMS B2 RATING. * MOODY'S SAYS OUTLOOK CHANGE DECISION REFLECTS RISKS THAT A WEAKENING IN PAPUA NEW GUINEA'S FISCAL STRENGTH, DEBT POSITION, RAISE LIQUIDITY RISKS. * MOODY'S, ON PAPUA NEW GUINEA, SAYS ELEVATED BORROWING REQUIREMENTS RAISE LIQUIDITY RISKS.
Canadian housing starts rose 21.6% in March compared with the previous month, easily beating expectations and hitting a new record, data from the Canadian Mortgage and Housing Corporation showed on Monday. The seasonally adjusted annualized rate of housing starts rose to 335,200 units in March, well ahead of analyst expectations for 250,000 units, and a new high for all months on record.
Brazil's economic activity surged in February, a central bank index showed on Monday, one of the strongest gains on record and a sign that the economy had been humming along nicely before it was hit by a deadly second wave of the COVID-19 pandemic. Economy Minister Paulo Guedes has pointed to record tax collection and formal jobs in January and February as evidence of this.
Canadian housing starts rose 21.6% in March compared with the previous month on a surge in multiple urban starts, data from the Canadian Mortgage and Housing Corporation showed on Monday. The seasonally adjusted annualized rate of housing starts rose to 335,200 units from a revised 275,567 units in February, Canada's national housing agency said.
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Brazil's economic activity rose sharply in February, a central bank index showed on Monday, one of the strongest monthly gains on record and the tenth straight month of expansion. The IBC-Br economic activity index, a leading indicator of gross domestic product, rose a seasonally adjusted 1.70% in February, following on from the previous month's 1.04% rise.
Brazil's 2022 inflation outlook rose above the central bank's official year-end goal for the first time, while the growth outlook for this year fell for a seventh consecutive week, a survey of economists showed on Monday.
Junk-rated and emerging-market companies look set to raise record amounts of debt in coming months, urged on by bankers who advise taking advantage of funding markets before Treasury yields rise and push up borrowing costs.
* Reuters Live Markets blog: By Elizabeth Howcroft. World shares hit record highs in the European session on Monday, as markets were generally upbeat about the prospects for a global economic recovery from COVID-19, ahead of a busy week for earnings. Europe's STOXX 600 rose to a record high before easing some gains, up 0.1% at 1105 GMT.
Government debt levels globally are at record levels but they have become cheaper than ever to finance, thanks in part to central bank buying, Janus Henderson Investors said in a new report released on Monday.
Large euro zone banks have been underreporting their risky assets by 275 billion euros by using their own models to quantify potential losses, the European Central Bank said on Monday.
* Reuters Live Markets blog: World shares traded near record highs on Monday, as markets were generally upbeat about the prospects for a global economic recovery from COVID-19, ahead of a busy week for earnings. Europe's STOXX 600 reached a record high and was up 0.2% at 0736 GMT.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. Euro zone government bond yields were broadly steady on Monday, with markets largely on hold ahead of this week's European Central Bank meeting. New supply, estimated at over 30 billion euros this year and above the average for the year so far according to Commerzbank, could put some upward pressure on yields.
1/ ECB DAY. The European Central Bank meets on Thursday and will likely be pressed on signs of divisions over the future pace of bond purchases, which have been stepped up recently to prevent a rise in borrowing costs from derailing the recovery.
Abu Dhabi National Energy Company, owned by Abu Dhabi state-owned holding company ADQ, has hired banks to arrange a dual-tranche bond issuance comprising a seven-year tranche and 30-year Formosa paper, a document showed on Monday.
Emerging market central banks delivered five net interest rate hikes in March, marking the end of an easing cycle which started in 2019 as central banks in the developing world grapple with rising inflation pressures.
Emerging market central banks delivered five net interest rate hikes in March, marking the end of an easing cycle which started in 2019 as central banks in the developing world grapple with rising inflation pressures.
Internal divisions over the pace of bond buying, extended COVID-19 lockdowns and potential delays to the EU recovery fund form the backdrop to Thursday's European Central Bank meeting. Sovereign bond markets may have calmed down since February's sell-off, but markets want more clarity about stimulus plans once an economic recovery takes hold. Here are some key questions on the radar for markets.
The dollar was pinned near a
one-month low to major peers on Monday, with Treasury yields
hovering near the lowest in five weeks, after the U.S. Federal
Reserve reiterated its view that any spike in ...
Gold edged higher on Monday, hovering
near a seven-week peak hit in the previous session, as a weaker
dollar and lower U.S. Treasury yields supported prices.
Fukoku Life Insurance plans to increase its holding of foreign stocks and corporate bonds this financial year, expecting low interest rates and recovery from the pandemic to support risk assets, an investment planning official told Reuters on Monday. In domestic markets, Fukoku plans to limit investments in Japanese government bonds and allocate funds to corporate bonds instead, the official said.
The dollar slumped to a six-week low against other major currencies on Monday as markets sorted out the plunge in U.S. Treasury yields last week after the Federal Reserve reiterated that any spike in inflation is likely to be temporary. Improved risk sentiment shown by the recent rally in global stocks to record highs also weighed on the greenback.
The dollar was pinned near a
one-month low to major peers on Monday, with Treasury yields
hovering near the lowest in five weeks, after the U.S. Federal
Reserve reiterated its view that any spike in ...
Oil prices edged higher on Monday, supported by a weaker U.S. dollar but gains were capped by concerns about the impact on demand from rising coronavirus cases in India. Brent crude settled up 28 cents, or 0.4%, at $67.05 a barrel, after rising 6% last week. The U.S. dollar traded at a six-week low versus major peers on Monday, with Treasury yields hovering near their weakest in five weeks.
Gold prices rose on Monday, hovering
near a seven-week peak hit in the previous session, as a softer
dollar and a retreat in U.S. Treasury yields lifted demand for
the safe-haven metal.
* March exports, imports growth beats forecasts. * China demand leads export rebound. * Trade surplus widens. By Daniel Leussink. Japan's exports posted their strongest growth in more than three years in March, led by a surge in China-bound shipments, in a sign the economic recovery from last year's deep coronavirus slump remains intact.
Taiwan has never sought to use foreign exchange rates to gain an unfair trade advantage, the central bank said on Sunday, after the U.S. Treasury said Taiwan tripped thresholds for possible currency manipulation under a 2015 U.S. trade law.
Taiwan has never sought to use foreign exchange rates to gain an unfair trade advantage, the central bank said on Sunday, after the U.S. Treasury said Taiwan tripped thresholds for possible currency manipulation under a 2015 U.S. trade law.
Venezuelan consumer prices rose 16.1% in March, central bank data released late on Friday showed, a drop from the 33.8% rise in February as the South American country remains mired in a years-long economic collapse marked by hyperinflation. That brought the country's interannual inflation to 3,012% in March, according to Reuters calculations based on central bank data.
* MSCI's all-country world index up 0.4% * MSCI, Dow, S&P 500, STOXX 600 hit records. * China Q1 GDP grows record 18.3% * Global asset performance http://tmsnrt.rs/2yaDPgn. * World FX rates http://tmsnrt.rs/2egbfVh. By Herbert Lash and Simon Jessop.
U.S. Treasury yields rebounded a bit on
Friday from the previous session's tumble to multi-week lows, as
Japanese buying and short covering that appeared to be primary
factors in the abrupt ...
Fewer than 200,000 businesses in the United States may have failed during the first year of the COVID-19 pandemic, a lighter toll than initially feared and one that may have had relatively little impact on unemployment, according to Federal Reserve research.
Fewer than 200,000 businesses in the United States may have failed during the first year of the COVID-19 pandemic, a lighter toll than initially feared and one that may have had relatively little impact on unemployment, according to Federal Reserve research.
The U.S. economy is set to take off this year as more Americans get COVID-19 vaccinations and become comfortable engaging in a wider range of activities, but any accompanying spike in inflation is likely to be temporary, the Federal Reserve's newest board member said on Friday, echoing the view of most U.S. central bankers.
* MSCI All-Country World Index up 0.3% * China Q1 GDP grows record 18.3% * Global asset performance http://tmsnrt.rs/2yaDPgn. * World FX rates http://tmsnrt.rs/2egbfVh. By Herbert Lash and Simon Jessop. Gold prices edged up and global stocks scaled fresh highs on Friday after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus pandemic.
Emerging market central banks delivered five net interest rate hikes in March, marking the end of an easing cycle which started in 2019 as central banks in the developing world grapple with rising inflation pressures.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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