Thursday 18th December 2014
NEWS TICKER: THURSDAY DECEMBER 18TH 2014: Jonathan Hill, the EU's financial-services commissioner, says he plans to pursue rules that separate a bank's proprietary trading from retail operations. "The sensible thing to do is to seek to make progress quickly" on the issue, Hill said. "There are still areas of risk in some of the biggest and most complicated banks,” reports Bloomberg- CME Group, said yesterday that it will change daily price limits in its CME Feeder Cattle futures effective today, pursuant to its emergency action authority. The current daily price limit for CME Feeder Cattle futures is $3.00 per hundredweight and will change to $4.50 per hundredweight effective on trade date December 18th Additionally, effective December 19th (tomorrow) these limits will have the ability to expand by 150% to $6.75 per hundredweight on any business day in the event that one of the first two contract months settles at limit on the previous trading day. CME Feeder Cattle futures have been locked limit for five consecutive days as a result of various factors. The change to daily price limits is necessary to ensure continued price discovery and risk transfer, says the CME. Daily price limits for CME Live Cattle futures will remain unchanged at $3.00 per hundredweight. Effective Friday, December 19th, these limits will have the ability to expand by 150 percent to $4.50 per hundredweight in the event that one of the first two contract months settles at limit on the previous trading day - The Straits Times Index (STI) ended +16.42 points higher or +0.51% to 3243.65, taking the year-to-date performance to +2.49%. The FTSE ST Mid Cap Index gained +0.29% while the FTSE ST Small Cap Index gained +0.71%. The top active stocks were Keppel Corp (+2.68%), SingTel (-1.02%), DBS (+2.36%), Global Logistic (-3.21%) and UOB (+0.30%). The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+3.13%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (+6.38%) and Geo Energy Resources (unchanged). The underperforming sector was the FTSE ST Telecommunications Index, which declined -0.98% with SingTel’s share price declining -1.02% and StarHub’s share price declining-0.73%. The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (+2.56%), DBXT CSI300 ETF (+0.42%), STI ETF (+0.61%). The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (-0.42%), Keppel DC REIT (unchanged), Suntec REIT (+0.26%). The most active index warrants by value today were HSI23400MBeCW150129 (+7.32%), HSI22600MBePW150129 (unchanged), HSI24000MBeCW150129 (+12.50%). The most active stock warrants by value today were KepCorp MBeCW150602 (+21.95%), DBS MB eCW150420 (+29.29%), DBS MB ePW150402 (-18.03%) - Spain’s Director of Public Prosecutions, Eduardo Torres Dulce, has resigned from the post for “personal reasons”, Spanish daily El Mundo reported this morning. A spokesman for the Public Prosecutor’s office confirmed the news by telephone to The Spain Report, saying that Mr. Torres Dulce had informed Justice Minister Rafael Catalá of his decision: “but that it perhaps would not come into effect until they find a replacement”. That decision is taken at cabinet level. The next cabinet meeting for Rajoy’s government is tomorrow morning - Hedge funds including Marshall Wace, Odey Asset Management and Lansdowne Partners are shorting OTP Bank Plc, a Hungarian lender with a Russian subsidiary whose shares have fallen almost 6% this month reports Albourne Village. All three London-based funds took or increased their position this month in OTP, Hungary’s largest lender, according to data compiled by Bloomberg. The ruble rose today in Moscow after plunging as much as 19%against the dollar yesterday, when Russia’s central bank increased interest rates to 17% percent from 10.5 percent in an attempt to stem the decline. The ruble is down 52% this year and has taken a disproportionate beating in the wake of sanctions and falling oil prices. The country still has the third largest currency reserves in the world and so is unlikely to default. According to Eric Chaney, Manolis Davradakis and Greg Venizelos from AXA IM’s Research and Investment Strategy team Russia will likely resort to fiscal stimulus to contain the risk of social and political unrest. Capital controls, political unrest and even default on private hard currency debts are possible outcomes they say. They credit default swaps market is pricing a one-third probability of sovereign default within five years - Indonesia is ramping up financing for its $439bn development program, planning an almost fivefold increase in sales of project sukuk. The government is seeking to raise IDR7.14trn rupiah (around $568m) from notes that will fund particular construction ventures next year, compared with IDR1.5trn this year, which say local press reports, will help finance its estimated spending of about IDR5,519trn from 2015 to 2019 to build roads, railways and power plants.

UK DMO to reopen 2062 index linked gilt

Thursday, 09 February 2012
UK DMO to reopen 2062 index linked gilt The United Kingdom Debt Management Office (DMO) says it has appointed a syndicate to sell by subscription the forthcoming re-opening of 0⅜% Index-linked Treasury Gilt 2062. Bookrunners on the transaction include Deutsche Bank, Goldman Sachs, RBS and UBS. http://www.ftseglobalmarkets.com/

The United Kingdom Debt Management Office (DMO) says it has appointed a syndicate to sell by subscription the forthcoming re-opening of 0⅜% Index-linked Treasury Gilt 2062. Bookrunners on the transaction include Deutsche Bank, Goldman Sachs, RBS and UBS.

The DMO has appointed a panel comprising exclusively wholesale GEMM firms from which
it has chosen syndicate members for the conduct of the programme of syndicated offerings
in 2011-2012.

The re-opening of 0⅜% Index-linked Treasury Gilt 2062 will be the eighth and final transaction in the 2011-12 programme, which has raised £30bn to date.



Syndicated offerings of index-linked gilts have raised £15.4bn to date, relative to a planned target of £18.9bn.

The DMO expects that the sale will take place in the week commencing February 20th, subject to market conditions. Further details about the conduct of the offer will be announced in due course.

Co-lead managers were invited among the DMO's Index-linked GEMMs panel members.

The DMO financing remit for 2011-2012 was published alongside the UK Budget on March 23rd last year and included the provision for a programme of up to eight syndicated offerings to be held in
period to raise some £31.6bn (cash).

The DMO also announced on the same days its intention to implement the programme of syndicated gilt offerings in 2011-2012 more evenly across the year than in the previous financial year via smaller and more regular operations than in 2010-11.

At the Autumn Statement on November 29th last year planned sales by syndicated offerings of
long-dated conventional and index-linked gilts were each increased by £0.3bn, to £13.8bn and £18.9bn respectively, taking total planned sales to £32.7bn (cash).

By early December the DMO announced that it expected (subject to market conditions) to
re-open 3¾% Treasury Gilt 2052 by a syndicated offering in the second half of January
 and to sell an index-linked gilt by syndicated offering in the second half of February
2012.

On January 6th 2 the DMO then  announced that the index-linked syndicated offering
planned for the second half of February would be a re-opening of 0⅜% Index-linked
Treasury Gilt 2062.

Related News

Related Articles

Related Blogs

Related Videos

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP