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Kenya Launches Sovereign Bond Purchases via Mobile Phones: M-Akiba
Kenya is due to launch an unprecedented sovereign bond to be sold exclusively through mobile platforms today, June 30th. The bond is termed ‘M-Akiba’, where ‘Akiba’ means savings in Kiswahli. Targeted at small investors, the bond can be bought via at denominations as...
First-ever ‘Pandemic Bond’ to Combat Outbreaks
Wednesday June 28th saw the launch of the first-ever ‘pandemic bond’ by the World Bank, with the aim to finance rapid response to disease outbreaks. How this works: $500 million raised through this bond issuance supports a Pandemic Emergency Financing Facility (PEF)....
U.S. Bond Yields Jump on back of Draghi’s Comments
U.S. Treasury yields rose on Tuesday shortly after European Central Bank President Mario Draghi delivered upbeat remarks at their annual conference held in Portugal. Key figures: Yield on U.S. 10-year Treasury rose by 7 points to 2.20% on 28 June morning, back to...
Junk Bond ETFs Test Market Liquidity
The big shift of investor cash to passive funds from active ones has gotten a lot of bond investors nervous about liquidity. Unlike stocks, bonds are much more limited in number. That means that the bonds comprising an exchange-traded fund--which is effectively a big...
Evergrande Bonds Falter After Record-Breaking Jumbo Issue
Chinese real estate company Evergrande raised a total of US$3.8 billion across 3 tranches on Tuesday. This represents the largest ever deal by a Chinese real estate company even as the regulators seek to clamp down on financial risks. The bonds have, however, traded...
CBRC’s Move Widens Dollar Bonds of Wanda, Anbang, Fosun, HNA.
A government crackdown on financial risks and money laundering ahead of China's 19th Party Congress has led to heightened scrutiny on several of China’s large overseas asset buyers, with billionaire Wang Jianlin’s Wanda Group in the mix. The China Banking Regulatory...
Tumbling Brent Oil Drags Down Oil Sector Bonds
Brent crude oil falls more than 14% from the start of this month to $42.47, nearing November lows. According to CNBC, “Oil prices have tumbled more than 20 percent this year, marking its worst performance for the first six months of the year since 1997.” How does this...
New Russian Benchmark Bond, Paws Away US Sanctions.
Russia priced new 10-year and 30-year bonds, making this the second deal post-2014 sanctions. The sovereign debt sale raised a total of $ 3 billion, comprising $ 1 billion from its 10-year-tranche yielding 4.25% and $ 2 billion from its 30-year-tranche yielding 5.25%....
Viva La Argentina! Wrapping Our Head Around 100 Year Bonds
Maturity 2117, Size $2.75 billion, Coupon 7.125%, Yield 7.917% Order Book $9.75 billion Initial Guidance 8.25% This issue comes soon after the US itself considered issuing a 100 year bond. Lets try to wrap our head around a 100 year bond and put it into perspective....
