Dec 23, 2010 ~ Business

Thursday, December 23, 2010

HSBC Holdings and Standard Chartered said that sales will double in 2011

HSBC Holdings Plc and Standard Chartered Plc, the largest foreign insurers yuan of bonds sold in Hong Kong, says that sales will double in 2011 as demand outstrips supply and appreciate the yuan. New problems may increase to a record 80 billion yuan ($ 12 billion) next year, with up to 30 billion yuan of sales in the first quarter, according to HSBC, the No. 2 bond insurer sum so-called penumbra. Standard Chartered, the fourth largest, said that sales could reach 100 billion yuan as the Moscow-based United Co. Rusal and BP Plc plan issues. Offers of this year total 40.7 billion yuan . "We're likely to see strong growth to around 80 billion yuan in 2011," said Sean Henderson, head of HSBC's debt syndicate in Asia, in a telephone interview. The dim sum market has grown 10 times since 2008...

Treasuries fell after reports showed initial jobless claims fell and consumer spending advanced

Treasuries fell after reports showed initial jobless claims fell and consumer spending advanced. Benchmark yields rose for a fourth week as the government said it would auction 99 billion U.S. dollars in notes next week, the same amount sold in the last two months. U.S. debt has handed investors a loss of 2.1 percent this month, the biggest since December 2009, Bank of America Merrill Lynch index shows. "We have to drift to higher rates to the provision of next week," said Jason Rogan, director of operations for U.S. government New York, Guggenheim Partners LLC, a brokerage for institutional investors. "We are in the typical commercial rental, so no big bets will be made until the new year." The yield on the benchmark 10-year advanced four basis points, or 0.04 percentage point to 3.39...

Canada mortgage bond sales fell 16 percent this year

Canada mortgage bond sales fell 16 percent this year and may be changed slightly in 2011 as the country's courts, the agency's housing supply to reduce borrowing costs. Canada Housing Trust, the financial arm of the housing agency in the nation, sold C $ 39,400,000,000 (38.8 billion U.S. dollars) this year. The issuance surged to a record C 46.9 billion U.S. dollars last year as the credit limit other sources of funding for banks and mortgage lenders. "It was becoming evident in the performance of voice that might supply was outstripping demand," said David Deslauriers, general director of public finance at Toronto-Dominion Bank, by telephone from Toronto. "The program began to reduce the size of the problems." Although many factors influence mortgage rates, reduced mortgage bond sales...

Puerto Rico Electric Power is selling $ 500 million in liabilities Build America Bonds

Puerto Rico Electric Power Authority, the largest U.S. utility public authority by revenue, is selling $ 500 million in liabilities Build America Bonds before the end of the program to save $ 130,800,000 in tax-free loans, said Finance Director Martin V. Arroyo Feliciano. The agency rushed to the government-subsidized debt before the December 31 deadline for the capture of the program 35 percent savings in interest costs and avoid the traditional borrowing tax-exempt. U.S. issuers brought forward sales expected this month to capture the subsidy, so that the last three months of 2010, the fourth largest sales, as America began building in April 2009. Government Development Bank for Puerto Rico decided the offer earlier this month as it became less likely that the program be extended, said...

In France borrowers are said by Standard & Poor's in a bet the euro zone's second largest economy comes to grips with its budget deficit

Situation in France as one of the safest in the world, borrowers are said by Standard & Poor's in a bet the euro zone's second largest economy comes to grips with its budget deficit. After a year in which the rating companies downgraded the debt of European nations from Spain to Ireland, New York, S & P said today that France deserves a AAA credit rating because of the sovereign "wealth and depth "of its economy and see that the government of President Nicolas Sarkozy will consolidate its budget deficit. The announcement may encourage investors to buy French debt after the yield on the 10 years the country rose this week, analysts speculated the eurozone crisis of sovereign debt may cost the nation its higher grade. Fitch Ratings today downgraded the debt of Portugal in a separate...

Steelmakers led gains in U.S. corporate bonds in Russia for the second consecutive year

Steelmakers led gains in U.S. corporate bonds in Russia for the second consecutive year as OAO Severstal and Evraz Group SA has benefited from a rise in metal prices and demand for construction projects. Debt sold by two largest steelmakers in Russia returned more than 20 percent this year compared with 10 percent for the benchmark sovereign bonds. The performance difference between 2013 Severstal notes and public debt fell to 12 basis points on December 16, the narrowest spread since it sold in 2008. "Steel makers were the hardest hit during the crisis and had the most runs well with market growth and recovery of the industry performed better," said Nikita Gusakov, head of capital markets debt Citigroup Inc. in Moscow, by email. The export prices of hot rolled coils, a benchmark steel...

China's benchmark rate money market rose to a maximum of three years

China's benchmark rate money market rose to a maximum of three years, on speculation a shortage of funds will worsen as banks hoard cash before the New Year holiday. The repurchase rate recovered to seven days after the central bank pumped a total of 26 billion yuan (3.9 billion) of capital in the financial market this week, sixth weekly injection net. Policy makers on December 10 ordered lenders to park more money with the central bank for the third time in five weeks to curb inflation. "Banks are collecting money to prepare for the demand for cash withdrawal during the holidays and to meet the requirement of loan-deposit ratio at the end of each month," said Liu Junyu, bond analyst with Shenzhen-based China Merchants Bank Co., the sixth largest lender in the nation. "Everyone is very short...

setting a date for the adoption of the euro "would be very risky and unwise.", Robert Holman

Just a year ago, Poland and the Czech Republic is preparing to join the euro currency and share with the nations of Italy to Germany and Ireland to Greece. Now, the Czech central bank board member Robert Holman said setting a date for the adoption of the euro "would be very risky and unwise." Polish central bank governor Marek Belka wants the euro zone to "normalize" before the country joins. The worst crisis that hit the euro since its inception a decade ago, causing the two largest economies of the European Union to withdraw a commitment to give up their currencies in the short term. That is encouraging investors who see Poland as a better bet without its currency is linked to the nations receiving emergency rescues, while austerity measures and reduction of inflation could push borrowing...

notes 10-year Treasury went to the longest streak of weekly losses in 19 months

notes 10-year Treasury went to the longest streak of weekly losses in 19 months before a report that economists said showed consumer spending gained last month, fueling speculation the central bank will reduce purchases assets. Five-year notes fell for a second day amid concern printing money by the Federal Reserve fuel inflation and sap demand for fixed income assets as the economy recovers. The Fed has to slow or stop its quantitative easing program called in response to an acceleration in the economy next year, the Philadelphia Fed Charles Plosser, the president said yesterday. The yields indicate traders added to bets inflation will accelerate in the economic outlook improves. "Economic data have been much better than expected, pointing to the fact that the bond bull market is behind...

U.S. spending increased in November for the fifth consecutive month

U.S. spending increased in November for the fifth consecutive month and intensified corporate purchasing of equipment, more evidence the U.S. economy is winning the game in 2011. Household purchases increased 0.4 percent after increasing 0.7 percent in October, which was almost two times higher than previously estimated, the Commerce Department figures showed today in Washington. The agency also reported a 2.6 percent gain in stocks of capital goods such as computers and electronic equipment. rising incomes and stock prices are giving consumers the means to power purchases account for 70 percent of the world's largest economy, improving the earnings prospects of companies such as Bed Bath & Beyond Inc. A drop in applications for jobless benefits reported today shows that employers are...

European shares were little changed after three days of gains

European shares were little changed after three days of gains down the benchmark Stoxx Europe 600 Index and the highest in 27 months. Aixtron AG, which manufactures equipment used to produce displays of light emitting diodes, rose 9.3 percent on a report that won an order in China. Allied Irish Banks Plc fell 19 percent after becoming the fourth lender to fall under government control since 2008. SSAB fell 2.9 percent in Sweden's largest steelmaker said its fourth-quarter earnings will be "close to zero." The Stoxx 600 fell below 0.1 percent to 281.3 at 4:32 pm in London, after swinging between gains and losses of at least 20 times. The indicator has recovered from the collapse that followed the collapse of Lehman Brothers Holdings Inc. 's September 2008, companies reported higher revenues,...

U.S. stocks fell after a five-day rally sent 500 Standard & Poor's most expensive level since June

U.S. stocks fell after a five-day rally sent 500 Standard & Poor's most expensive level since June, offsetting a rebound in durable goods orders and a drop in jobless claims. Lennar Corp. and D.R. Horton Inc. fell at least 3 percent after a government report showed that fewer than expected new homes were sold in November. Micron Technology Inc. lost 3.2 percent as the largest U.S. manufacturer of computer memory chips in fiscal first-quarter sales that missed analysts' estimates. Nasdaq OMX Group Inc. fell 1.6 percent after BMO Capital Markets cut its rating on the shares. The S & P 500 fell 0.1 percent to 1,257.58 at 11:25 am in New York. His statement yesterday to a maximum of two years pushed its valuation to 15.7 times reported profits, the highest since June. The Dow Jones industrial...

Most Asian stocks fell as developers in China fell

Most Asian stocks fell as developers in China fell after the government intensified the control of real estate investments to curb rising property prices of housing, the fight against the gains among exporters and producers basic. China Vanke Co., the nation's biggest developer, lost 1.8 percent in Shenzhen. Bank of China Ltd., the country's third largest lender by market value, fell 1.2 percent. Li & Fung Ltd., the largest supplier of Wal-Mart Stores Inc., rose 2.3 percent in Hong Kong after a government report showed the U.S. economy expanded more rapidly than previously estimated. "It helps us to see signs that the U.S. economic outlook appears brighter in the short term, but how long this can be sustained remains an issue," said Castor Pang, research director in Hong Kong Cinda International...

China's stocks fell for a second consecutive day

China's stocks fell for a second consecutive day that the government increased control of real estate investments and concerns that may become more expensive for smaller companies to borrow money after a gauge of borrowing costs increased. China Vanke Co. dropped more than 1.5 per cent, losses to property developers, after the Commerce Ministry has ordered local authorities to stop the passage of some foreign-owned investments to slow speculative purchase. Laibao Shenzhen High-tech Co., a manufacturer of conductive glass for touch screens, was an indicator of smaller companies at least two weeks. The repurchase rate seven days, which measures the cost of loans between banks, rose to its highest level since October 2007. "Uncertainty about the controls is the decision of the market," said...

SEC passed an audit of California to sign the fraudulent statements made by an energy company in China

Investigation of the Securities and Exchange Commission of auditors in China based companies listed on U.S. exchanges share is a signal for investors to approach these people with caution, said International Strategy & Investment Group. The SEC on Dec. 21 passed an audit of California to sign the fraudulent statements made by an energy company in China. Auditors have been scrutinized for signs of the financial statements of companies based in China access to U.S. markets through reverse mergers, in which a closely held company acquires a publicly traded company and may sell shares after an IPO. "This is the ultimate 'buyer beware' investment sector," said Donald Straszheim, China research director at the ISI, which was ranked first in the macro and Economy category in 2009 survey by...

Hong Kong stocks fell as concerns about China's control of property investment

Hong Kong stocks fell as concerns about China's control of property investment overshadowed the optimism of a global recovery after the U.S. economy expanded faster than expected. China Overseas Land & Investment SA, controlled by the ministry of nation building, slid 1.4 percent. Li & Fung Ltd., the largest supplier of Wal-Mart Stores Inc., rose 2.3 percent. Changsha Zoomlion Heavy Industry Science & Technology Development Co., a manufacturer of construction equipment, rose 8 percent in its debut. "It helps us to see signs that the U.S. economic outlook appears brighter in the short term, but how long this can be sustained remains an issue," said Castor Pang, research director in Hong Kong Cinda International Holdings Ltd. "The markets tend to move sideways toward the end of...

U.S. Stock futures retained losses

U.S. Stock futures retained losses after durable goods orders was down the average economist forecast. 500 of Standard & Poor's index contracts fell 0.1 percent to 1,252.70 at 8:33 Eastern time. The benchmark measure of U.S. shares closed yesterday at a maximum of two years. Durable goods orders fell 1.3 percent in November, fell more than forecast 0.5 perce...

emerging market stocks fluctuated as increased confidence in the strength of U.S. recovery

The emerging market stocks fluctuated as increased confidence in the strength of U.S. recovery was offset by concern that China's tightening measures to slow growth in the third largest economy in the world. Hon Hai Precision Industry Co., which makes computers Apple Inc. iPhones and Hewlett-Packard Co., rose 1.7 percent after a government report showed the U.S. economy expanded faster than expected. China Vanke Co. dropped 1.8 percent in the southern city of Shenzhen of China as an indicator of lending rates rose to its highest level in more than three years. The MSCI Emerging Markets Index has changed slightly to 1,126.37 as of 21:49 London time, after gaining 0.2 percent and falling 0.1 percent. Taiwan's TAIEX index rose 0.4 percent, the highest since May 2008. The Philippine Stock Exchange...

Sales Dubai farms are gaining momentum a year after planning to freeze the payment of 24.9 billion U.S. dollars in loans

Sales Dubai farms are gaining momentum a year after the emirate's corporate logo shook world markets with plans to freeze the payment of 24.9 billion U.S. dollars in loans. DP World Ltd., the port operator, yesterday agreed the sale of 75 percent of its unit in Australia, raising $ 1.5 billion. Borse Dubai Ltd, which controls two of Dubai, the stock exchange, raised $ 672,000,000 December 16 with the sale of half its stake in Nasdaq OMX Group Inc., owner of capital exchange second largest U.S. . UU .. Both companies said they use the funds to pay the debt. Dubai and its state-controlled companies have so far been able to renegotiate with creditors. About $ 20 billion in debt and interest will be published next year, according to Egyptian investment bank EFG Hermes Holding SAE, raising the...

Forecasts for inflation in Brazil are declining more than two years after policy makers

Forecasts for inflation in Brazil are declining more than two years after policy makers said they are prepared to increase borrowing costs to curb consumer prices, show bond yields. The yield gap between inflation-indexed bonds and fixed-rate government maturing in 2013 fell 25 basis points, or 0.25 percentage point, to 612 yesterday after the central bank said there was a need " adjustment "in interest rates to curb consumer price increases. The difference in yield, an indicator of investor sentiment about inflation annually over the next two years, got to 637 earlier this week, the highest since December 2008. The demand for inflation protection is decreasing in Brazil speculation linking the countries of Chile to Thailand in increasing borrowing costs. Brazilian bonds linked to an index...

Federal Reserve chairman, Ben S. Bernanke said the speculation of investors on money market mutual funds are likely to be rescued by their parent companies during a crisis could undermine the stability of the industry that manages $ 2790000000000. Bernanke, in a December 09 letter to Anthony J. Carfang, a partner at Chicago consultancy Treasury Strategies said the market developments that reinforce the speculation whether the money funds can be rescued are a "concern" and the support of sponsors should be addressed in the context of reforms envisaged in the industry . Carfang in November criticized a proposal that Moody's Corp. ratings on...

Orchard increased its capital flagship hedge funds almost 14 times

Orchard Capital Partners Ltd., a hedge fund based in Asia Stark was out of investments last year, increased its capital flagship hedge funds almost 14 times after returning more than three times its regional peers this year. Gemini Fund managed orchard $ 96,200,000 on December 1, from $ 7 million in early January, JED said Teall Huerta co-founded with Stuart Wilson. The fund, which bets on both rising and falling stocks in the region, returned 21 percent in its first 11 months. The Eurekahedge Asia Long / Short Equity Hedge Fund Index, tracking about 300 funds, has gained 6 percent this year, at least since a 2.9 percent increase in 2002 and years with losses 2000 and 2008, as the fear of a relapse in the U.S. recession, Europe's crisis of debt and inflation in Asia rattled markets. Huerta...

Business

Welcome to our website