Saturday, April 19, 2014
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Japan Buys Aussie Sovereign Bonds in June, Ending Record Sales

reserve-bank-of-australia

Japanese investors bought Australian sovereign bonds in June as the benchmark yield surged to its highest level in 14 months, ending a record stretch of sales. Money managers in Japan made net purchases of 54.3 billion yen ($561 million) after selling the South Pacific nation’s government debt in each of the previous 10 months, the Tokyo-based Ministry of Finance said today. Overall, they offloaded ... Read More »

Mongolia attracts twice its GDP for debut bond sale

mse

Mongolia successfully established a benchmark curve with its $1.5 billion debut bond early Thursday morning, after raking in an astounding $15 billion of orders. One banker joked that Mongolia has more yaks than people. It is not far from the truth. The landlocked country has a gross domestic product of just $8.5 billion, so orders were roughly twice the size ... Read More »

IIFCLPlans $1 Billion Debt Fund

India roads

New Delhi – State-run India Infrastructure Finance Co. plans to tie up with Barclays PLC, HSBC Holdings PLC and the Asian Development Bank, among others, to float a $1 billion debt fund by the end of April to finance local infrastructure projects, its chairman said Tuesday. “Barclays and HSBC are likely to contribute together about $300 million for a [total] ... Read More »

Swire and Sun Hung Kai tap market for close to $1 billion

origami

Swire Pacific, Sun Hung Kai Properties and DBS rush to issue as Greek rescue package buoys credit markets. It was another hectic day in Asia’s debt markets yesterday as the news of a second rescue package for Greece helped boost credit markets. While Greece is far from being out of the woods — and bondholders have agreed to take a ... Read More »

Japan, China to Help Europe Solve Crisis

Shipping

Japanese Finance Minister Jun Azumi said his nation and China will work together to help Europe solve its debt crisis through the International Monetary Fund. Europe needs a bigger so-called firewall of added funding to contain the crisis, even as Greece shows some improvement in solving its financial woes, Azumi told reporters in Beijing yesterday after meeting Chinese Vice Premier Wang Qishan. Azumi, who met ... Read More »

What Happens When China Stops Buying US Debt?

China US treasury bonds

For years, people have wondered what happens when China stops buying U.S. Treasury bonds. Once China refuses to finance our massive deficits, the thought goes, interest rates will surge, and the Treasury might have a hard time selling bonds (ask Greece what it’s like). And if China actually began selling its Treasury bonds… that could bring about something far worse. ... Read More »