NEW YORK (Reuters) – The downing of a Malaysian passenger jet over eastern Ukraine on Thursday is likely to keep fixed income investors shunning Russia, and eastern Europe more broadly, in favor of other emerging markets.
The eruption of conflict earlier this year over Ukraine’s borders and subsequent economic sanctions against Russia has caused a sharp drop-off in corporate debt issuance from Eastern Europe, including Russia, and massive capital flight from that country.
NEW YORK, July 18 (Reuters) – U.S. Treasuries held steady on
Friday, taking in stride a weaker-than-expected U.S. consumer
sentiment survey and holding onto the safe-haven flows stemming
from the escalation of tensions in Ukraine and Israel in the
last 24 hours.
The preliminary July Thomson Reuters/University of Michigan
reading of consumer sentiment showed an index dropping to 81.3,
below both the consensus analyst expectation of 83 and the final
June read of 82.5.
NEW YORK, July 17 (Reuters) – U.S. Treasury prices rose on
Thursday as investors sought a safe haven after news a Malaysian
passenger plane came down over eastern Ukraine, an area of
increasing conflict between the government and pro-Moscow
The move up in prices resulted in yields on the benchmark
10-year Treasury falling in their steepest one-day drop since
early February, according to Reuters data.
NEW YORK, July 17 (Reuters) – U.S. Treasuries rose on
Thursday after disappointing U.S. housing data showed the
slowest pace of groundbreaking in nearly a year, driving yields
lower and reinforcing a view that U.S. monetary policy will
remain loose well into 2015.
Investors bid up Treasury prices following the data,
extending earlier gains but not enough to break out of recently
tight trading ranges.
NEW YORK (Reuters) – A U.S. judge said in New York on Wednesday that he would hear arguments next Tuesday related to the banks and payment agents caught up in Argentina’s sovereign debt case as a potential default looms at the end of the month.
U.S. District Judge Thomas Griesa has received motions from the Bank of New York Mellon , the indentured trustee that currently holds a deposit from the government of $539 million in its account at the Central Bank of Argentina, on what it should do with the money.
NEW YORK, July 16 (Reuters) – U.S. benchmark Treasury yields
edged lower on Wednesday, slipping back from an early boost
delivered after data suggesting the world’s largest economy is
on solid footing.
Higher-than-expected June producer price index data was
balanced against data showing a lower-than-expected increase in
June industrial production.
NEW YORK, July 15 (Reuters) – The bond market traded in a
narrow range on Tuesday, absorbing Federal Reserve Chair Janet
Yellen’s message that the U.S. economic recovery remains
incomplete and early signs of a pick-up in inflation are not
enough to accelerate anticipated interest rate increases.
Yellen’s testimony before the Senate Banking Committee
generated little market movement, with prices gyrating a few
points above and below the day’s opening level, reflecting
market views that the loose monetary policy stance was not about
NEW YORK, July 15 (Reuters) – U.S. Treasuries hewed to
narrow ranges on Tuesday, slightly weaker ahead of congressional
testimony from Federal Reserve Chair Janet Yellen, who is
expected to emphasize the central bank’s flexibility in policy.
Prices on Treasuries were little changed after data showing
a smaller-than-expected rise in June U.S. retail sales,
including a surprising decline in receipts at automobile
dealerships. However, the view of an economy on sounder footing
at the end of the second quarter remains intact.
NEW YORK, July 8 (Reuters) – Investors holding over $6
billion worth of unrestructured Argentine sovereign debt are
starting the process of organizing negotiating committees,
encouraged by Buenos Aires’ stated desire to settle with 100
percent of all of its creditors.
These are Argentina’s “other” holdouts, the ones it fears
will bring lawsuits and open it to liabilities in the
government’s estimation close to $15 billion.
NEW YORK/BUENOS AIRES (Reuters) – Argentina’s economy minister on Monday told a mediator in the country’s dispute with holdout investors that the U.S. court ruling against the country is “impossible” to fulfill and a stay is necessary in order to reach a solution for all creditors.
The country needs to make a deal with the holdouts who rejected debt restructurings after its 2002 default if it is to avoid a new default just as it struggles with recession and dwindling reserves.