Author: FX
Wagner Meier/Getty Images News Petrobras (NYSE:PBR) said Monday its recent 10-year bond issuance, its first since 2021, beat expectations in raising ~$1.25B powered by strong demand. “From a qualitative point of view, the bond issue exceeded expectations. And also quantitatively because it had overbooking, it had important rate compression,” CFO Sergio Caetano Leite told Reuters, also noting 60% of orders came from investment funds, which he said was an important qualitative sign of the operation. The bonds mature in July 2023 with a 6.5% annual coupon and a 6.625% annual yield to investors, issuance was 3.4x oversubscribed and featured 327…
© Reuters. Investing.com– Gold prices steadied further above key support levels on Tuesday, but the yellow metal still remained under pressure as markets awaited more cues on monetary policy from the Federal Reserve this week. Bullion prices saw some relief over the past two sessions, after the Fed’s read lower than expected for May. But the central bank is still expected to hike rates in July. Substantially weaker-than-expected also ramped up fears of slowing growth, spurring some flows into gold. But despite recent gains, gold was still trading close to its weakest level in nearly four months. was flat at…
People’s Bank of China USD/CNY reference rate is due around 0115 GMT.The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2% and some think it could widen to 3% this year. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against…
Share: Japan’s top currency diplomat Masato Kanda said early Tuesday that he is communicating with various countries including the US over currencies, per Reuters. It’s worth noting that Japan Chief Cabinet Secretary Hirokazu Matsuno and Finance Minister (FinMin) Shunichi Suzuki have also recently flagged concerns about the Asian major’s market intervention as the USD/JPY stays near the multi-month high of around 145.00. Apart from the Japan intervention, US Treasury bond yields renew fears of recession and also weigh on the risk-barometer pair, not to forget the recently softer US data. However, the Bank of Japan’s (BoJ) defense of…
Privacy advocates scored a big win in June with Binance’s announcement that it was backtracking on a decision to delist privacy coins for users in a number of European countries. As a result of the move, users in Italy, Poland, Spain and France will be permitted to continue trading tokens including Zcash (ZEC), Monero (XMR), Decred (DCR), Horizen’s ZEN, Verge (XVG), (DASH), Secret (SCRT), Firo, Navcoin (NAV), MobileCoin (MOB), Beam and PIVX.ZCash’s price sank to a low of $21.70 a week after Binance’s May 31 threat to delist it — and rocketed back to $33 after the decision was reversed.…
BNY Mellon Short Duration Corporate Bond ETF declares monthly distribution of $0.1150 Source link
China has initiated restrictions on the exports of products and materials that incorporate the metals gallium and germanium, both of which are key components in semiconductors, 5G base stations, and solar panels. The restriction is viewed as a response to the restrictions placed by the U.S. and other countries on the sale of high-end chips and chip-manufacturing equipment to China – primarily from Nvidia.The U.S. contends that its measures against Chinese chip makers are designed to prevent China from advancing technologies that could offer it an advantage in defense or other sectors deemed critical to national security. Beijing has argued…
Share: USD/MXN was down by 0.30% in H2 2023 following weak US manufacturing data and yield curve inversion. US manufacturing activity slows for an eighth consecutive month, impacting USD performance. Recession fears rise as the US yield curve experiences pronounced inversion, signaling a potential economic slowdown. USD/MXN begins the second half of 2023 with losses of almost 0.30% after hitting a daily high of 17.1485 after data from the United States (US) showed manufacturing activity continues at depressed levels. Furthermore, a deep inversion of the US yield curve sparked recession fears, a headwind for the US Dollar (USD).…
Japanese Yen (USD/JPY) Analysis Recommended by Richard Snow See what our analysts foresee in Q3 for the yen Japanese Yen in Broad DeclineThe Japanese yen is easily an outlier in the FX space as central banks continue to tighten interest rates, regardless of whether they are near or at their respective terminal rates. Interest rate differentials and yield differentials favour the ‘carry trade’ which may continue despite warnings from Japanese officials, expressing their displeasure with undesirable, one-sided FX moves.This time feels a whole lot different to the latter stages of 2022 where Japanese officials warned of undesirable moves, making specific…
iShares iBonds 2029 Term High Yield and Income ETF declares monthly distribution of $0.1228 Source link