Italian Bonds Gain After Nation Sells Most Debt Since May 2011

Bloomberg Businessweek

http://www.businessweek.com/news/2014-01-13/italian-bonds-gain-after-nation-sells-most-debt-since-may-2011

By Eshe Nelson and David Goodman January 13, 2014

Italy’s government securities advanced for a second day as the nation raised the largest amount from an auction of bonds in a single day since May 2011.

The nation’s two-year note rose for the first time in four days as the government sold three-year notes at a record-low yield. German bunds gained for a second day, with 10-year yields falling to match the lowest level in four weeks, after a U.S. report last week showed companies added workers at the slowest pace since January 2011. Bonds from Spain to Greece have rallied this year amid signs the European debt crisis is easing.

Greece Dreams of Bond Sale in Rally From Ireland to Portugal

By Neal Armstrong and David Goodman - Jan 9, 2014

Europe’s financial markets are picking up where they left off 2013, extending a rally in bonds and stocks that’s making the region’s sovereign debt crisis little more than a fading memory.

Ireland sold bonds this week, returning to financial markets after completing a three-year bailout program. Portugal -- another aid recipient -- is holding a sale today. Banks in Spain and other periphery countries have never been able to borrow as cheaply as they can now. The Stoxx Europe 600 Index of stocks closed at its highest level since May 2008 yesterday and the euro is about its strongest since 2011 against the dollar.

Kazarian Says Greece Needs Clean Numbers for Investors

By Marcus Bensasson - Dec 6, 2013 2:01 AM GMT+0200

Bloomberg 

Paul Kazarian, the U.S. investor buying up Greek government bonds, calls the European Union’s accounting “completely irrational” and wants to help finance an alternative to allow Greece to return to the debt markets.

The founder of Japonica Partners & Co. said in a Dec. 3 interview in Athens that applying International Public Sector Accounting Standards would give bond markets the same kind of audited financial statements that equity investors are accustomed to. Kazarian, who started a tender offer for the Greek securities in June, said the EU method of measuring member states’ public finances overstates the level of indebtedness.

“If you really want to be back in the capital markets and soon, you have to deliver, you have to show some early wins,” Kazarian, 58, said. “Show your debt number, give access to it and verify it, and then have the dialogue: ‘So which number is right?’ Is it a legal definition that has absolutely no economic rationality to it, or is the world-class standard the right debt number?”

Global shares stabilize after sell-off, euro firm before ECB

BY MARC JONES

LONDON Thu Dec 5, 2013 7:43am EST

(Reuters) - European shares steadied on Thursday after three days of selling, as focus turned to whether the European Central Bank will offer any new economic stimulus after the Bank of England left its interest rates at a record low.

Markets remained under pressure amid speculation about the future of U.S. monetary stimulus. That kept bond yields elevated and left shares struggling to recover from this week's declines.

European shares .FTEU3 were virtually flat before the 1245 GMT ECB rate decision and 1330 GMT news conference, as traders waited to hear what the head of the bank, Mario Draghi, had to say..EU

Greek bonds rally as German election draws near

Fri Sep 20, 2013 4:50pm IST

By Marius Zaharia

(Reuters) - Greek government bonds rallied on Friday as an election campaign in European paymaster Germany neared its end with little clarity about what it might mean for Greece's future in the euro zone.

Funding gaps facing Athens and the risk Portugal may not return to markets when its bailout runs out next year will be among European policy challenges for Germany's next government.

Bond Funds Losing $60 Billion Foreshadow Risk of Fed Exit

By Margaret Collins & Charles Stein - Jul 4, 2013 7:00 AM GMT+0300

Investors have pulled about $60 billion from U.S. bond funds since Federal Reserve Chairman Ben S. Bernanke rattled markets by outlining his plan to end the central bank’s unprecedented asset purchases.

The redemptions foreshadow what’s in store for asset managers when the central bank eventually scales back the $85 billion in monthly purchases of bonds and mortgage securities that investors have come to rely on. Bond funds had $28.1 billion in net redemptions in the week ended June 26, the Washington-based Investment Company Institute said yesterday.

Euro, shares recover as European worries recede

By Richard Hubbard

LONDON | Tue Feb 5, 2013 5:37am EST

(Reuters) - European shares and the euro steadied on Tuesday, a day after a sharp selloff caused by rising political risks in southern Europe, as new data confirmed the region's economy is showing clear signs of recovery.