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EURO GOVT-Bunds rise on weak U.S. economic outlook

July 30, 2010 By vani Leave a Comment

July 29 (Reuters) – Bund futures opened higher on Thursday, lifted by concerns over the U.S. economy after weak data in the previous session, with a euro zone sentiment survey seen adding to safe-haven bids if it fails to meet expectations. The euro zone survey released at 0900 GMT is expected to show a small gain in economic sentiment, but could lend further support to Bunds if it falls below the forecast of 99.0.

“The risk is that it comes in below forecast and people start questioning the strength of the recovery,” a trader said.

On Wednesday, a Federal Reserve report showed lacklustre growth and U.S. durable goods orders unexpectedly fell.

“It feels like we might have seen the lows of the week. I think the market is looking for signs of (risk appetite) calming down,” the trader said.

At 0605 GMT, the Bund future FGBLc1 was 8 ticks up on Thursday’s settlement close at 127.89, although slightly below the official close after a rally in late trading.

The 10-year German bond yield DE10YT=TWEB was 2.742 percent, down around 1 basis point while the two-year Schatz yield DE2YT=TWEB was flat at 0.852 percent.

In supply, benchmark peripheral sovereign Italy will come to market with auctions of conventional and floating-rate bonds worth up to 9.5 billion euros.

Although recent warmer sentiment towards the euro zone’s higher-yielding countries has seen peripheral debt sales draw good demand, a trader said there was likely to be some attempt to cheapen the Italian paper further ahead of the auction. (Reporting by William James)

Filed Under: International News Tagged With: Basis Point, Bond Yield, Bund Future, Bund Futures, Bunds, Debt Sales, Durable Goods Orders, economic outlook, Economic Sentiment, Euro Zone, Federal Reserve, Federal Reserve Report, italian paper, lows, reuters, risk appetite, safe haven, Ticks, Tweb, William James

EURO GOVT-Bunds higher after Bernanke

July 23, 2010 By vani Leave a Comment

July 22 (Reuters) – German Bunds rose on Thursday, tracking overnight moves in U.S. Treasuries after the Federal Reserve Chairman said that the world’s largest economy faced “unusually uncertain” prospects, prompting a sell-off in riskier assets.

Ben Bernanke said the Fed stands ready to ease monetary policy further if the budding U.S. economic recovery withers [ID:nN21165172].

Two year US Treasury yields US2YT=RR hit a record low in the wake of the testimony and ten-year yields US10YT=RR held near 15 month lows.

“Those looking for imminent quantitative easing were probably disappointed, but the ‘uncertain outlook’ and talk of taking action is pretty dovish,” a trader.

At 0603 GMT, September Bund futures FGBLc1 were 40 ticks higher at 129.30 having risen above the 21 day moving average at 129.10 at the market open.

Traders were looking to July’s high of 129.54 as the next key resistance level, to break out of the recent trading range.

Two-year bond yields DE2YT=TWEB were 1.8 basis points lower at 0.706 percent, with 10-year yields DE10YT=TWEB almost 4 basis points lower at 2.599 percent .

Euro zone flash manufacturing and services PMIs are released from 0658 GMT, with the regional manufacturing index expected to slip to 55.2 from 55.6 in June and the services index seen falling to 55.0 from 55.5.

Filed Under: International News Tagged With: basis points, ben bernanke, Bond Yields, Bund Futures, economic recovery, Euro Zone, Federal Reserve Chairman, lows, monetary policy, Moving Average, Overnight Moves, Resistance Level, reuters, Services Index, Ten Year Yields, Ticks, Treasuries, Tweb, Us Treasury Yields, Zone Flash

EURO GOVT-Bunds slip, growth worries to underpin demand

July 7, 2010 By vani Leave a Comment

July 6 (Reuters) – German Bund futures opened slightly lower on Tuesday with European equities predicted to rise though worries over global growth were set to underpin safe-haven demand.

Activity is expected to be thin with some investors remaining on the sidelines before Thursday’s European Central Bank meeting.

Data showing the U.S. labour market shrank for the first time this year in June and slower Chinese manufacturing activity has fuelled concerns over prospects for the global economy, supporting demand for safe-haven Bunds.

“The recent bunch of significant U.S. data disappointments has fuelled the debate about a double dip (recession) and even though there is little new data on the calendar over the next days, the talk about a U.S. double dip is unlikely to fall silent soon,” said Commerzbank strategists in a note.

At 0605 GMT, the Bund future FGBLc1 was 10 ticks lower at 129.60. The 10-year German bond yield DE10YT=TWEB was 2.562 percent, up 1.5 basis points while the two-year Schatz yield EU2YT=RR was 1 basis point higher at 0.638 percent.

“It’s trying to go higher to that 130.00 level but volumes are thin,” a trader in London said. (Reporting by William James)

Filed Under: International News Tagged With: Basis Point, basis points, Bond Yield, Bund Future, Bund Futures, Bunds, commerzbank, Disappointments, Double Dip Recession, European Equities, German Bund, global economy, global growth, Labour Market, reuters, safe haven, strategists, Ticks, Tweb, William James

German Bund futures up 1/2 point at 129.81

July 6, 2010 By vani Leave a Comment

July 5 (Reuters) – German Bund futures were up half a point on the day at a session peak of 129.81 on Monday as worries swirled about a double-dip recession in the United States and Europe following poor non-farm payrolls data Friday.

But the gains were exaggerated by anaemic volumes in the midst of a U.S. market holiday and a lack of investors in the summer period.

“The focus remains on the double-dip recession expectations for the world economy, although the moves are totally exaggerated by thin volumes,” said Marc Ostwald, a bond strategist at Monument Securities in London.

By 0748 GMT, the September Bund future FGBLc1 was up 42 ticks on the day at 129.73, and shy of resistance at 129.86, the June 29 high. (Reporting by George Matlock)

Filed Under: International News Tagged With: Bund Future, Bund Futures, Double Dip Recession, German Bund, gmt, investors, June 29, Marc Ostwald, matlock, midst, Non Farm Payrolls, resistance, reuters, s market, Session Peak, strategist, Summer Period, Ticks, World Economy, worries

EURO GOVT-Bunds higher as periphery pressured, stocks fall

June 25, 2010 By vani Leave a Comment

June 24 (Reuters) – Core German Bunds turned positive on Thursday as peripheral euro zone issuers remained under pressure and after cautious comments on the economy from the US Federal Reserve.

Bunds further extended gains as European equities .FTEU3 turned negative.

At 0727 GMT, September Bund futures FGBLc1 were 11 ticks higher at 128.73. Two-year German yields DE2YT=TWEB were 1.5 basis points lower at 0.582 percent, with ten-year yields DE10YT=TWEB down a similar amount at 2.632 percent.

European shares .FTEU3 reversed earlier gains to stand 0.24 percent lower on the day.

Peripheral yield spreads were steady in early trade, but held close to levels seen the previous session after a bout of widening.

Filed Under: International News Tagged With: basis points, Bund Futures, Cautious Comments, economy, Euro Zone, European Equities, european shares, Federal Reserve, gmt, Issuers, June 24, periphery, reuters, stocks, Ten Year Yields, Ticks, Tweb, US Federal Reserve

EURO GOVT-Bunds lower on post-Fed, data profit-taking

June 25, 2010 By vani Leave a Comment

June 24 (Reuters) – German Bunds opened lower on Thursday as investors booked profits after a rally the previous session on the back of dismal US housing data and a cautious tone on the economy from the US Federal reserve.

The Fed renewed its promise to hold benchmark interest rates exceptionally low for an extended period, as expected, but also said financial conditions had become less supportive of growth, helping underpin bonds’ recent strength [ID:nN22150078].

European equities .FTEU3 were set to open higher, also adding to pressure on Bunds.

At 0604 GMT, September Bund futures FGBLU0 were 20 ticks lower at 128.42. Two-year bond yields DE2YT=TWEB were half a basis point higher at 0.6 percent, with 10-year yields up 1.5 basis points at 2.660 percent DE10YT=TWEB.

But traders said German Bunds should remain supported.

“The periphery remains under immense pressure, especially Greece with the month-end index related selling,” said a trader. “That, and the tone from the FOMC should keep core markets underpinned.” The 10-year Greek/German government bond yield spread has widened sharply this week because of expected forced selling at the end of the month by passive indexed funds after Moody’s became the second rating agency to downgrade Greece to junk earlier this month.

In supply, Italy will issue up to 1.5 billion euros of index linked BTPs.

Filed Under: International News Tagged With: Basis Point, basis points, Bond Yield, Bond Yields, Bund Futures, Core Markets, European Equities, Fed Data, Federal Reserve, FOMC, german government, Government Bond, immense pressure, Indexed Funds, June 24, periphery, reuters, Ticks, US Federal Reserve, Yield Spread

EURO GOVT-Bonds open lower ahead of supply

June 17, 2010 By vani Leave a Comment

June 16 (Reuters) – German bond futures opened lower on Wednesday, after strong gains by U.S. equities overnight and weighed down ahead of a 10-year Bund auction this session. Germany will issue 5 billion euros of 10-year Bunds, the euro zone’s benchmark issue.

European equities .FTEU3 were expected to open higher at 0700 GMT, feeding off Wall Street’s gains .GSPC.

Although German Bund yields are 20 basis points higher than when they set a record low of 2.497 on June 8, one trader said more concession-building was likely ahead of the auction if Bund futures remained lower.

Bids for the auction close at 0900 GMT.

“The main focus today is the Bund auction and equities, and there is room for more cheapening off in the Bund leading up to the tender,” he said. At 0606 GMT, the September Bund future FGBLc1 was down 29 ticks at 128.01.

The two-year Schatz yield DE2YT=TWEB was up 1.5 basis points at 0.529 percent while the 10-year Bund yield DE10YT=TWEB was up 2.4 bps at 2.703 percent.

In data, euro zone final consumer prices for May are due at 0900 GMT but unlikely to turn heads unless they are revised. The market forecast is for a gain of 1.6 percent in the headline year-on-year figure.

(Reporting by George Matlock; editing by John Stonestreet)

Filed Under: International News Tagged With: auction, basis points, Benchmark Issue, Bond Futures, BPS, Bund Future, Bund Futures, concession, Euro Bonds, Euro Zone, European Equities, German Bund, Govt Bonds, matlock, reuters, Schatz, Stonestreet, Ticks, Tweb, Wall Street

Times Square case: Expert says Shahzad”s signature reveals hostility

May 6, 2010 By vani Leave a Comment

New York, May 6 (ANI): Thirty-year-old Faisal Shahzad”s handwriting on a 2004 condo sale agreement unmasks him as a hostile, self-destructive, arrogant man, an expert has said.

The New York Daily News quotes forensic document examiner and author of “Handwriting Analysis 101” Bart Baggett, as saying: “He”s angry at everybody and he”s lashing out at the world.”

Baggett identified three “ticks” – tiny marks where the pen has dragged – that indicate aggression and hatred: at the top of the F, the bottom of the S and the end of the L in Faisal.

The one on the F is particularly telling because Shahzad”s handwriting has large “upper zones” that suggest an interest in philosophical ideals, religion and analysis, Baggett said.

The presence of the tick there, means Shahzad is angry at religion and ideology, he said.

Shahzad also signed only his first name, indicating pride. The excessive pen pressure he used shows determination, Baggett said. (ANI)

Filed Under: International News Tagged With: aggression, Arrogant Man, Bart Baggett, Faisal, Forensic Document Examiner, Handwriting Analysis, hatred, hostility, new york daily news, Pen Pressure, presence, pride, religion, shahzad, signature, Square Case, tick, Ticks, times square, york daily news

EURO GOVT-Bunds open lower after Greece aid deal agreed

April 13, 2010 By vani Leave a Comment

LONDON, April 12 (Reuters) – Core euro zone government bonds opened lower on Monday after euro zone finance ministers on Sunday approved a 30 billion euro aid mechanism for Greece, cooling demand for the safety of German government bonds.

Together with at least 10 billion euros expected from the International Monetary Fund in the first year, the emergency loan mechanism would allow Greece to borrow funds from euro zone peers and the IMF at significantly below market rates. Greece has not requested that the loan plan be activated yet. [ID:nLDE63A0BO] “It’s a question of how far Greek government debt can normalise now on the back of that,” said a bonds trader in London.

The Greek/German 10-year bond yield spread DE10YT=TWEB GR10YT=TWEB was around 409 basis points at Friday’s settlement. The spread was expected to tighten when Greek markets open on Monday, the trader said.

At 0605 GMT, the Bund future FGBLc1 was 122.23 ticks, 61 ticks lower on the day and its lowest since mid-March.

The 10-year German bond yield EU10YT=RR was 3.23 percent, up 6.3 basis points while the two-year Schatz yield EU2YT=RR was 5.7 basis points higher at 1.05 percent.

There are no major euro zone debt auctions and little in the way of data due for release on Monday.

(Reporting by William James; editing by John Stonestreet)

Filed Under: International News Tagged With: basis points, Bund Future, Emergency Loan, Euro Bonds, Euro Zone, finance ministers, german government, Government Bonds, government debt, Greek government, Greek Markets, IMF, International Monetary Fund, Loan Plan, mid march, reuters, Schatz, Stonestreet, Ticks, William James

UK gilts track Bunds down as safe-haven bid fades

April 10, 2010 By vani Leave a Comment

LONDON, April 9 (Reuters) – British gilt futures fell in
line with Bunds in early trade on Friday as investors unwound
safe-haven trades that had supported prices in the last session.

Investors had dumped Greek assets on Thursday on mounting
worries about Greek government borrowing and turned to safer
investments, such as Bunds and gilts. [ID:nLDE6370QK]

European equities markets made a firm start to Friday’s
session, adding to the pressure on government bonds.

By 0727 GMT, the June gilt future FLGM0 was 18 ticks down
at 114.07, keeping step with Bunds.

In the cash market, the yield on ten-year gilts was 3 basis
points higher at 4.033 percent, leaving the spread against Bunds
at 91 basis points.

Traders said prices had also come under pressure from firm
euro zone data earlier this session and noted that gilt flows
were light due to investor caution in the run-up to a national
election on May 6. [nUKPOLLS10]

“Yesterday’s flight-to-quality bid due to Greece is being
shaken out this morning,” said a London-based trader.

“Positioning is pretty flat: people want to be quite careful
going into the election.”

* The Office for National Statistics will publish March
producer prices data at 0830 GMT.

* Jun gilt FLG09 114.07 (-0.18)

* Jun short sterling FSSM0 99.30 (UNCH)

* Sep short sterling FSSU0 99.15 (-0.01)

* 10-year yield 4.03 percent (+3 bps)
——————— KEY MARKET DATA—————————
Long Gilt futures <0#FLG:> Gilt benchmark chain <0#GBBMK=>
Short Stg futures <0#FSS:> Cash market quotes
Deposit rates DM= Sterling cross rates GBPX1=
UK debt speedguide Econ. indicator polls
——————–KEY MARKET REPORTS————————–
Gilts [GB/] Sterling [GBP/]
Euro Debt [GVD/EUR] Dollar [USD/]
U.S. Treasuries [US/] Debt reports [DBT]
——————– GILT STRIPS DATA ————————–
Gilt strips data All gilt strips <0#GBSTRIP=>
Gilt strips IO <0#GBSTRIPIO=> Gilt strips PO <0#GBSTRIPPO=>
A list of all the strippable British gilts <0#GBSTRIPTSY=>
——————— FOR MORE NEWS —————————-
Top British news [TOP/UK] World news [GLANCE/G]
UK diary [GB/DIARY] Press reviews [PRESS]
New from Reuters [INFO]
Useful Speedguides REUTERS

Filed Under: International News Tagged With: basis points, Cross Rates, Euro Debt, Euro Zone, European Equities, fades, Gbp Euro, Gilt Futures, Government Bonds, Greek government, last session, national election, National Statistics, producer prices, reuters, safe haven, Ticks, Treasuries, Uk Gilts, Zone Data

EURO GOVT-Bunds open higher after strong U.S. auction

April 9, 2010 By vani Leave a Comment

LONDON, April 8 (Reuters) – Bund futures opened higher on Thursday supported by strong U.S. Treasury auction results and as Greece’s debt crisis looked set to remain in the spotlight.

U.S. Treasury prices jumped on Wednesday as record-setting demand at a $21 billion auction of 10-year notes allayed concerns over flagging demand for government bonds.

The European Central Bank’s monthly meeting will flesh out a revamp of its lending rules that will help ease the financial pressure on Greece. Interest rates are expected to be kept at a record low 1 percent. [ID:nLDE6361EQ]

In the previous session, the 10-year Greek bond yield spread DE10YT=TWEB GR10YT=TWEB against German Bunds hit new euro lifetime wide at 413 basis points as uncertainty over the country’s debt problems unnerved investors.

“It looks like Greece going to the IMF (International Monetary Fund) is a lot closer than it was at the start of the week,” said a bond trader in London, citing continued unrest over Germany’s involvement in any aid deal for the country.

Resistance towards the European Union’s emergency plan to help Greece has surfaced at Germany’s central bank, a newspaper reported on Wednesday. [ID:nLDE636226]

At 0605 GMT, the Bund future FGBLc1 was 19 ticks up from the settlement close at 123.30 but slightly below the official close of 123.37.

The 10-year German bond yield EU10YT=RR was 3.109 percent, around a basis point higher while the two-year Schatz yield EU2YT=RR was up 1 basis point at 0.957 percent.

The Bank of England also meets on Thursday, and is likely to make no change to monetary policy. [ID:nLDE6201AT]

(Reporting by William James)

Filed Under: International News Tagged With: Auction Results, Bank of England, Basis Point, basis points, bond trader, Bund Future, Bund Futures, Debt Crisis, Debt Problems, emergency plan, Government Bonds, Imf International Monetary Fund, International Monetary Fund, reuters, s central, Ticks, Treasury Auction, Treasury Prices, U S Treasury, William James

EURO GOVT-Bund yields higher, Greek issuance eyed

March 29, 2010 By vani Leave a Comment

LONDON, March 29 (Reuters) – Core euro zone government bond yields rose on Monday, pressured by U.S. Treasuries which dipped on nagging supply worries after poorly bid auctions last week and with European equities set to open higher.

The market will be keeping a close eye on Greek yield spreads to assess if Athens can launch a syndicated bond sale this week, following European leaders’ agreement to create a safety net to help debt-ridden Greece.

But the country has taken no final decision to issue a bond this week, the Greek finance minister said on Saturday, after a Financial Times report that the country planned to launch a multi-billion euro issue in coming days [ID:nLDE62Q03F]

“We know they need to do 16 billion euros in the next couple of months and that will probably take the steam out of the peripheral recovery until it’s out of the way,” said a trader.

At 0604 GMT, June Bund futures FGBLM0 were 4 ticks lower from Friday’s settlement close at 122.70. Two-year bond yields EU2YT=RR were up 1.3 basis points at 0.912 percent, with 10-year yields up just over half a basis point at 3.164.

Euro zone March sentiment indicators are released at 0900 GMT in an otherwise quiet morning for data. In supply, Rome will auction up to 1.25 billion euros of inflation linked bonds.

Filed Under: International News Tagged With: Basis Point, basis points, Bond Yields, Bund Futures, Euro Zone, European Equities, European Leaders, final decision, Finance Minister, Financial Times, Government Bond, Inflation Linked Bonds, issuance, london march, Quiet Morning, reuters, Sentiment Indicators, Ticks, Treasuries, worries

Scientists turns mosquito into ”flying vaccinator”

March 19, 2010 By vani Leave a Comment

Washington, March 19 (ANI): A team of Japanese researchers has developed a mosquito that spreads vaccine instead of disease.

The new research, led by Associate Professor Shigeto Yoshida from the Jichi Medical University in Japan, has revealed that mosquito genetic engineering can turn the transmitter into a natural ”flying vaccinator”, providing a new strategy for biological control over the disease.

The study targets the saliva gland of the Anopheles stephensi mosquitoes, the main vectors of human malaria.

“Blood-sucking arthropods including mosquitoes, sand flies and ticks transmit numerous infectious agents during blood feeding,” said Yoshida.

“This includes malaria, which kills between 1-2 million people, mostly African children, a year. The lack of an effective vaccine means control of the carrier has become a crucial objective to combating the disease,” Yoshida added.

For the past decade, it has been theorized that genetic engineering of the mosquito could create a ”flying vaccinator,” raising hopes for their use as a new strategy for malaria control.

However so far research has been limited to a study of the insect”s gut and the ”flying vaccinator” theory was not developed.

“Following bites, protective immune responses are induced, just like a conventional vaccination but with no pain and no cost. What”s more continuous exposure to bites will maintain high levels of protective immunity, through natural boosting, for a lifetime. So the insect shifts from being a pest to being beneficial,” said Yoshida.

In this study, Yoshida and colleagues team successfully generated a transgenic mosquito expressing the Leishmania vaccine within its saliva. Bites from the insect succeeded in raising antibodies, indicating successful immunization with the Leishmania vaccine through blood feeding.

While ”flying vaccinator” theory may now be scientifically possible the question of ethics hangs over the application of the research.

A natural and uncontrolled method of delivering vaccines, without dealing with dosage and consent, alongside public acceptance to the release of ”vaccinating” mosquitoes, provide barriers to this method of disease control.

The new research has been published in Insect Molecular Biology. (ANI)

Filed Under: International News Tagged With: antibodies, Biological Control, continuous exposure, genetic engineering, Human Malaria, infectious agents, japanese researchers, Jichi, Malaria Control, medical university, mosquito, mosquitoes, new strategy, Protective Immune Responses, Protective Immunity, Saliva Gland, sand flies, Ticks, transgenic, Yoshida