Investors favor Bunds to riskier debt into weekend
LONDON, May 24 (Reuters) – Spanish and Italian government
bond yields rose on Friday as investors sought safety before a
long weekend, favouring German Bunds over lower-rated paper.
Riskier bonds extended a fall made after comments from
Federal Reserve Chairman Ben Bernanke on Wednesday fed concerns
that U.S. monetary policy could be scaled back in the next few
meetings if the economy improves.
Short story writer Lydia Davis wins Man Booker International Prize
LONDON (Reuters) – American short story writer Lydia Davis won the fifth Man Booker International Prize for fiction on Wednesday for a body of work that includes some of the briefest tales ever published.
Davis, a professor of creative writing at the University of Albany, is best known for work that Observer critic William Skidelsky once said “redefines the meaning of brevity”.
Short story writer Lydia Davis wins Man Booker International fiction prize
LONDON (Reuters) – American short story writer Lydia Davis won the fifth Man Booker International Prize for fiction on Wednesday for a body of work that includes some of the briefest tales ever published.
Davis, a professor of creative writing at the University of Albany, is best known for work that Observer critic William Skidelsky once said “redefines the meaning of brevity”.
Short story writer Lydia Davis wins major fiction prize
LONDON (Reuters) – American short story writer Lydia Davis won the fifth Man Booker International Prize for fiction on Wednesday for a body of work that includes some of the briefest tales ever published.
Davis, a professor of creative writing at the University of Albany, is best known for work that Observer critic William Skidelsky once said “redefines the meaning of brevity”.
Bunds rally on healthy auction, dovish Fed comments
LONDON, May 22 (Reuters) – Bunds rose on Wednesday as a sale
of new 10-year bonds attracted above average demand and after
dovish comments from Federal Reserve officials dampened
speculation about an early exit from easy U.S. rate policy.
An auction of German debt attracted 1.6 times the amount on
offer, above a 1.47 average for sales of similar paper this year
and underpinning a rally in German Bunds. The recent pick-up in
yield likely boosted appetite.
Dovish Fed comments lift Bunds, healthy sale expected
LONDON, May 22 (Reuters) – Bund futures rose on Wednesday,
with dovish comments from Federal Reserve officials tempering
expectations the U.S. central bank will soon taper its bond
purchases as investors awaited fresh insight into its thinking.
Fed Chairman Ben Bernanke’s testimony and minutes from the
Fed’s latest meeting will be examined later on Wednesday for
clues on when it might call a halt to its ultra-loose monetary
policy.
Bunds fall as investors await Fed, auction
LONDON, May 21 (Reuters) – Bunds fell on Tuesday as markets
looked to U.S. Federal Reserve head Ben Bernanke’s testimony and
minutes from the bank’s latest meeting on Wednesday for signals
on when it might wind back its easy monetary policy.
Concerns the Fed may stop supporting financial markets
weighed on German debt prices as investors also sold the paper
to make room to buy a new 10-year Bund on Wednesday.
Possibility of Spanish downgrade looms over euro zone
Spanish government bonds have had a good run since the European Central Bank said it would protect the euro last year. But some analysts say the threat of a rating downgrade to junk remains an important risk.
Credit default swap prices are discounting such a move, according to Markit. Spain is only one notch above junk according to Moody’s and Standard & Poor’s ratings, and two notches above junk for Fitch. All three have it on negative outlook. Bank of America-Merrill Lynch says it sees a “high probability” of a sovereign rating downgrade in the second half of the year.
Junk rating risk casts shadow over Spanish bonds
LONDON (Reuters) – Spain’s borrowing costs will rise if its credit rating is cut as much as market prices imply.
The cost of insuring against a Spanish default suggests investors expect another cut in its sovereign ratings, to junk, according to financial information firm Markit.
Bunds rally as data casts doubt over U.S. recovery
LONDON, May 16 (Reuters) – German Bund futures jumped the
most in six weeks on Thursday as weak data out of the United
States cast doubt over the strength of the recovery in the
world’s largest economy.
U.S. jobless claims rose sharply last week while housing
starts tumbled in April and a gauge of underlying inflation
pointed to weak demand.
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