Treasurys Gain 5.51% in 2010
BY DEBORAH LYNN BLUMBERG, WSJ.com
Treasurys prices rose on the final trading day of 2010, allowing the government bond market to end a volatile year on a high note. U.S. government debt posted gains of 5.51% for 2010, according to Barclays index data. TIPS, or Treasury inflation protected securities, chalked chalk up gains of 5.84% for the year.
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U.K. Think Tank Sees 20% Chance Of Euro’s Survival
By Javier E. David, WSJ.com
Europe’s common currency, battered for more than a year by a sovereign debt crisis, is unlikely to survive the next decade in its current form, the Center for Economics and Business Research warned Friday.
http://jlne.ws/i9Re3L
Bond fund investors face tough new era
By Rachel Koning Beals, MarketWatch
Much of the buzz in the bond market nowadays is all about bubbles, and not the champagne kind. As a year of respectable gains for government debt funds and even stronger returns for high-yield and emerging market bond funds comes to a close, bond mutual-fund managers are bracing for a period of rising interest rates and diminished returns.
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Three risks to start 2011
By Jeremy Gaunt,Reuters
Financial markets enter 2011 with many investors persuaded that the world economy is on the mend and that riskier assets such as stocks are set to do well.
http://jlne.ws/h54N1W
Greece in talks on extending debt repayment
Reuters
Greece is in talks with commercial banks on extending the repayment of its outstanding debt, in line with a similar plan to stretch out paying back its EU/IMF bailout, an Athens weekly reported on Friday.
http://jlne.ws/glsLeN
Most British financiers happy to stay in UK: survey
Reuters
The majority of people working in Britain's financial services industry are happy to stay in the UK, said a survey by the eFinancialCareers.com website, despite fears a clampdown on pay may force top performers overseas. The online poll of 415 workers in London's City finance district said only 14 percent were actively seeking a job overseas, with the rest happy to remain in the UK.
http://jlne.ws/fUxTAT
Pimco to Pay $92 Million to Settle Market Manipulation Lawsuit
By Sree Vidya Bhaktavatsalam, Bloomberg
Pacific Investment Management Co., manager of the world’s biggest bond fund, agreed to pay $92 million to settle a private class-action lawsuit that accused it of manipulating the price of Treasury futures contracts.
http://jlne.ws/ew7eXd
PIMCO's El-Erian, managing the “new normal” investment landscape
Daniel P. Collins, Futures Mag.com
Mohamed El-Erian, CEO and co-chief investment officer of PIMCO, is one of the most knowledgeable people you can find on global financial issues. Prior to joining Bill Gross as co-CIO at PIMCO, El-Erian managed the Harvard University endowment fund, was a managing director at Salomon Smith Barney/Citigroup and spent 15 years at the International Monetary Fund.
http://jlne.ws/hKSAQJ
Venezuela estimates economy shrank 1.9 percent in 2010
By Andrew Cawthorne, Reuters
Venezuela's economy shrank an estimated 1.9 percent in 2010, marking a second year of recession as the South American nation fails to match the recovery in other countries after the global financial crisis, the Central Bank said on Thursday.
http://jlne.ws/hH44ZL
Venezuela to Devalue Currency
BY KEJAL VYAS AND DAVID LUHNOW, WSJ.com
Venezuela will devalue its "strong bolívar" currency on New Year's Day, the government said Thursday, the second such devaluation within a year and at least the fifth major devaluation during the decade-long populist government of President Hugo Chávez. News of the devaluation came just after the central bank said the Venezuelan economy contracted 1.9% in 2010, the second consecutive year of declining output in the oil-rich nation after a 3.3% decline in 2009.
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China's CICC investment banking head quits
Reuters
The head of investment banking of China International Capital Corp (CICC), the country's top investment bank, is stepping down, local media reported on Friday.
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Germany 'stronger' after economic crisis
BBC News
The German people have emerged stronger from Europe's economic crisis, Chancellor Angela Merkel has said in her annual new year's message. The country now enjoys its lowest unemployment rate since reunification 20 years ago despite the worst crisis in more than 60 years, she said.
http://jlne.ws/eI0KNp
IMF to discuss Polish credit line in mid-Jan
Reuters
The IMF's executive board has not yet approved an extension and increase of Poland's flexible credit line (FCL) facility but will consider the request in mid-January, Poland's deputy finance minister said on Thursday. The ministry said on December 23 that the International Monetary Fund had initially approved an increase in the credit line to $29 billion from $21 billion in a previous facility and its extension by two years.
http://jlne.ws/fMrgtO
Year-End Position Squaring Boosts Bonds
Reuters
U.S. Treasurys may struggle to replicate this year's relatively strong returns in 2011 if the economy grows as much as some expect, as riskier assets could continue to outperform the government debt.
http://jlne.ws/gaGLEz
Deutsche Bank Challenges JPMorgan's Bond Dominance
By Bryan Keogh, Bloomberg
Deutsche Bank AG climbed three places to No. 2 in the global corporate bond underwriter rankings this year, challenging JPMorgan Chase & Co.’s three- year reign as the top manager of debt offerings.
http://jlne.ws/eH3E4Y
Argentina Reaches 80% Acceptance in 'Brady Bond' Swap
BY SHANE ROMIG, WSJ.com
The holders of more than 80% of Argentina's defaulted Brady bonds have accepted a debt-swap offer in exchange for a basket of U.S. dollar-denominated bonds and a cash payment, Economy Minister Amado Boudou said in comments to local radio stations Thursday.
http://jlne.ws/fOjJZz
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