Bonds
BoE notes rise in nominal gilt yields
Bank of England publishes latest quarterly report on its asset purchase facility; finds that nominal gilt yields on BoE stock are on average 30 points higher than in last quarter
RBA warns banks against chasing ‘unrealistic profit’
Reserve Bank of Australia’s latest Financial Stability Review cautions banks not to increase risk-taking by chasing ‘unrealistic profit expectations'
Markets start to price in QE3 following Bernanke speech
Equity prices rise and dollar eases as markets interpret Federal Reserve chairman’s comments as signalling increased likelihood of further quantitative easing
Richmond Fed paper highlights benefit of debt ceiling
Fed research finds governments can see improvements in fiscal positions when utilising debt ceiling targets
ECB allows eurozone central banks to veto collateral
ECB says central banks in member countries can refuse bank bonds guaranteed by governments of countries involved in EU/IMF bailout programmes as collateral
IMF paper finds macro-economy dominates behaviour of bond yield curve
Study of Czech bond market asserts that analysis of misalignments in markets can aid forecasting of future yield movements
Moody’s downgrades Cyprus to junk status
Rating agency drops rating for Cypriot government bonds to Ba1; says concerns over banking sector’s exposure to Greece are to blame
Hong Kong and Malaysia launch investment and settlement pilot platform
Hong Kong Monetary Authority, Bank Negara Malaysia and Euroclear Bank launch new pilot platform for cross-border investment and settlement of debt securities; culmination of work started in 2008
Pakistan’s Anwar calls for development of corporate bond markets
State Bank of Pakistan governor wants to see corporate bond market developed in the country; stresses government must be open to change for process to work
Deputy governor renews Bank of Japan attack on Volcker rule
Kiyohiko Nishimura reiterates Bank of Japan’s concerns over unintended consequences of Volcker rule; says “prudent assessment” of potential impact of the rule on other countries is “crucial”
FOMC minutes show split on bond purchases
Minutes from latest Federal Open Market Committee meeting shows board members disagreed over introducing another bond-buying programme to boost the economy
Japan to support EFSF bonds as S&P strips AAA rating
The Japanese government will continue to support bonds issued by the EFSF despite Standard & Poor’s stripping them of their AAA rating; Junker says no indication other rating agencies will follow
Government debt no longer risk-free: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says government debt in advanced countries is unlikely to regain its risk-free status
Barroso to ECB: do 'whatever is necessary' to maintain financial stability
European Commission chairman says ECB must ensure financial stability by any means; announces financial transaction tax and supports eurobonds
Liquidity provision focus for new international reform plan
New Centre for Economic Policy Research report puts forward reform plan; focuses on liquidity provision and calls for greater IMF powers
Foreign central banks pile into Swedish government bonds
Central banks acquired 49% of the latest sale of government debt issued by The Swedish National Debt Office.
Bank of England - Asset Purchase Facility Report (First Quarter 2011)
Bank of England First Quarter 2011 Asset Purchase Facility Report shows adaption to reserve prices sparked higher sale in corporate bonds
Risk Europe: no-go on CoCos, says panel
Traditional investors won't be won over by debt that converts into equity, says conference panel - and one CoCo issuer raises threat of feedback effects
Crisis reshaping Australian bond market: RBA’s Debelle
Reserve Bank of Australia assistant governor Guy Debelle says regulatory reforms to change Australia’s bond market structure
ECB’s Bini Smaghi proposes single eurozone bond issuing agency
European Central Bank executive board member Lorenzo Bini Smaghi backs proposals for single eurozone government bond issuer; says agency could pave the way for a single European bond
Bundesbank slams idea of using ESM to buy government debt
Bundesbank says using enlarged European Stability Mechanism to buy government bonds of troubled countries will place more burden on taxpayers
Bond purchase frictions convinced Weber to drop out of ECB race
Bundesbank's Axel Weber says divergent views on ECB’s bond purchases meant he was no longer an acceptable candidate to succeed Trichet; stresses he was right to stick to his guns
Sovereign funds set to enter an active phase: State Street’s Nugée
Sovereign wealth funds ready to tackle postponed investment decisions and portfolio changes having ridden out crisis with a passive management strategy
Banking Commission chief makes case for ring-fencing retail operations
Independent Commission on Banking chief John Vickers rules out “radical narrow banking” but says some separation between investment and retail banks could help