President Donald Trump has purchased over $100 million in corporate, municipal and state bonds since his second inauguration, according to ethics filings showing more than 600 transactions across major banks and companies.


Trump buys government & corporate bonds over $100 million 

Last week, barring Monday, Indian assets have stood tall amid global gloom. Indian bonds defied the broader global bonds selloff with the central bank's support. Despite a shocking worldwide selloff in debt, Indian bonds held their own as the Reserve Bank of India (RBI) firmly opened the money taps to prop up the economy.

India stands tall amid global bond selloff

Global bond funds have seen record inflows in 2024, driven by the highest yields in nearly two decades. This surge marks a strong recovery after a difficult 2022, positioning the bond market for a record-breaking year. Take a look at this next report for more…

Corporate Bonds Thrive As Interest Rates Shift

Global bond funds have seen record inflows in 2024, driven by the highest yields in nearly two decades.



This surge marks a strong recovery after a difficult 2022, positioning the bond market for a record-breaking year.



Take a look at this next report for more…

Let's look at how markets opened this morning. Asian stocks and bonds fell early on Thursday, mirroring declines in the US Wall Street stocks took a hit after another weak sale of treasuries.

Stocks fall as weak treasury sale lifts US Bond yields

In a court filing on Monday, his lawyers urged a mid-level state appeals court to delay enforcement of the judgment, arguing the amount was excessive. They said the defendants had so far approached 30 surety companies through four separate brokers to obtain a bond.

US: Donald Trump's New York assets under legal threat, face 'difficulties' in securing bonds

Investors in Asia are joining international lawsuits against the Swiss government for its handling of affairs during the takeover of Credt Suisse, the iconic but troubled bank. Authorities in Switzerland forced Credit Suisse to merge with rival UBS to prevent own collapse.

Though the takeover averted a catastrophe in Swiss banking system, it made bonds worth USD 17 billion held by investors worthless.

An anonymous investor quoted by BBC had bought USD 500000 worth of bonds in January. The investor took the decision even after several problems in the bank.

"Whenever I spoke to them, the bank gave me constant reassurances that this was just a blip, so I decided to go for it. It didn't feel like I was gambling," BBC quoted the investor as saying.

The type of bonds bought in this case were reportedly AT1, a riskier type of bond the value of which can be written down to zero. This is something that happened when Credit Suisse was taken over by UBS.

Now, dozens of bondholders in Singapore are joining hands to hold the Swiss government responsible. The main grievance is the manner in which the merger was conducted.

The investors reportedly claim that terms of bonds should have made them first to be compensated when the bank was on the brink of collapse. The bondholders were to be given priority over shareholders. However, shareholders were allowed to exchange their Credit Suisse shares with UBS shares.

This in effect means that shareholders got something but bondholders did not.

The legal firm, which is representing bondholders, has alleged that the Swiss regulator's decision was "an unlawful action" and that it had "devastating consequences on thousands of retail and small investors globally."

Bondholders who talked to BBC expressed frustration after losing their money and&nbsp;questioned Switzerland's banking reputation.

"We're losing sleep over this. It should have been a rock solid investment, but now I think the reputation of Switzerland and Swiss banks has gone down the tube," said an Asian investor quoted anonymously by BBC.

"Who in the world is going to trust Switzerland anymore?"

(With inputs from agencies) 
 
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Investors in Asia are joining international lawsuits against the Swiss government for its handling of affairs during the takeover of Credt Suisse, the iconic but troubled bank.

Investors in Asia are joining international lawsuits against the Swiss government for its handling of affairs during the takeover of Credt Suisse, the iconic but troubled bank. Authorities in Switzerland forced Credit Suisse to merge with rival UBS to prevent own collapse. Though the takeover averted a catastrophe in Swiss banking system, it made bonds worth USD 17 billion held by investors worthless. An anonymous investor quoted by BBC had bought USD 500000 worth of bonds in January. The investor took the decision even after several problems in the bank. "Whenever I spoke to them, the bank gave me constant reassurances that this was just a blip, so I decided to go for it. It didn't feel like I was gambling," BBC quoted the investor as saying. The type of bonds bought in this case were reportedly AT1, a riskier type of bond the value of which can be written down to zero. This is something that happened when Credit Suisse was taken over by UBS. Now, dozens of bondholders in Singapore are joining hands to hold the Swiss government responsible. The main grievance is the manner in which the merger was conducted. The investors reportedly claim that terms of bonds should have made them first to be compensated when the bank was on the brink of collapse. The bondholders were to be given priority over shareholders. However, shareholders were allowed to exchange their Credit Suisse shares with UBS shares. This in effect means that shareholders got something but bondholders did not. The legal firm, which is representing bondholders, has alleged that the Swiss regulator's decision was "an unlawful action" and that it had "devastating consequences on thousands of retail and small investors globally." Bondholders who talked to BBC expressed frustration after losing their money and questioned Switzerland's banking reputation. "We're losing sleep over this. It should have been a rock solid investment, but now I think the reputation of Switzerland and Swiss banks has gone down the tube," said an Asian investor quoted anonymously by BBC. "Who in the world is going to trust Switzerland anymore?" (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Credit Suisse: Bondholders in Asia sue Swiss government after wipeout

In the midst of a worldwide banking crisis that has caused bond yields to drop on safe haven trading, India revealed a fiscal first-half borrowing plan that is broadly consistent with prior years.

India may sell green bonds in second half of fiscal

Amid growing tensions between Washington and Beijing, BlackRock, the world’s largest asset manager, has put off the launch of an exchange-traded fund that invests in Chinese bonds.

WION Business News | BlackRock delays China bond ETF launch

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making&nbsp;a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default.

"Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP.

Evergrande is a major real estate firm in China and carries USD 300 billion&nbsp;in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on&nbsp;edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy.

On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through.

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Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower.

In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent.

The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent.

Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited.

(With inputs from agencies)

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline.

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default. "Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP. Evergrande is a major real estate firm in China and carries USD 300 billion in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy. On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through. Also Read | Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower. In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent. The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent. Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited. (With inputs from agencies)

Surprise interest payment from Evergrande boosts global markets

Sri Lanka has repaid a billion US dollar international sovereign bond (ISB) that was due for settlement this week, the Central Bank said on Saturday.

The ISB repayment on Friday came days after Moody's on Monday downgraded Lanka's sovereign credit rating by two notches, saying the South Asian nation would be hard-pressed to secure funding to service its huge foreign debt.

Sri Lanka was pushed down from "B2" (high credit risk) to "Caa1" (very high credit risk), as the coronavirus pandemic compounded the economic woes of the island nation.

"This settlement reconfirms the government's unwavering commitment to honour its foreign liabilities, thereby bolstering investor confidence and dispelling any concerns foreign investors may have in relation to the government's ability and willingness to maintain its unblemished debt servicing record,? the Central Bank said in a statement.

"The domestic foreign exchange market has already reacted positively to this settlement and other recent positive developments in the Sri Lankan economy.

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"With the envisaged inflows to the domestic foreign exchange market supported by proactive measures taken by the government and the Central Bank of Sri Lanka, the market sentiment is expected to further strengthen in the period ahead,? it said.

The Sri Lankan government said with the settlement of the one billion dollar ISB, the country now has no large debt payments before July 2021.

The government had dismissed the downgrade by Moody's as premature and unfair.

The government defended its ability to meet its debt repayments, citing a currency swap with India's RBI (Reserve Bank of India) and anticipated Japanese and Chinese bonds, in addition to a syndicated loan from China.

The Moody's had said Sri Lanka only had limited secured funding sources to meet its material external debt service payments over the coming years.

Following Moody's downgrading of Lanka's sovereign credit, the Opposition parties called for urgent economic reforms through collective efforts. 
&nbsp;

Sri Lanka has repaid a billion US dollar international sovereign bond (ISB) that was due for settlement this week, the Central Bank said on Saturday. The ISB repayment on Friday came days after Moody's on Monday downgraded Lanka's sovereign credit rating by two notches, saying the South Asian nation would be hard-pressed to secure funding to service its huge foreign debt.

Sri Lanka has repaid a billion US dollar international sovereign bond (ISB) that was due for settlement this week, the Central Bank said on Saturday. The ISB repayment on Friday came days after Moody's on Monday downgraded Lanka's sovereign credit rating by two notches, saying the South Asian nation would be hard-pressed to secure funding to service its huge foreign debt. Sri Lanka was pushed down from "B2" (high credit risk) to "Caa1" (very high credit risk), as the coronavirus pandemic compounded the economic woes of the island nation. "This settlement reconfirms the government's unwavering commitment to honour its foreign liabilities, thereby bolstering investor confidence and dispelling any concerns foreign investors may have in relation to the government's ability and willingness to maintain its unblemished debt servicing record,? the Central Bank said in a statement. "The domestic foreign exchange market has already reacted positively to this settlement and other recent positive developments in the Sri Lankan economy. Also Read | Pay firefighting bill before leaving, Sri Lanka tells stricken oil tanker "With the envisaged inflows to the domestic foreign exchange market supported by proactive measures taken by the government and the Central Bank of Sri Lanka, the market sentiment is expected to further strengthen in the period ahead,? it said. The Sri Lankan government said with the settlement of the one billion dollar ISB, the country now has no large debt payments before July 2021. The government had dismissed the downgrade by Moody's as premature and unfair. The government defended its ability to meet its debt repayments, citing a currency swap with India's RBI (Reserve Bank of India) and anticipated Japanese and Chinese bonds, in addition to a syndicated loan from China. The Moody's had said Sri Lanka only had limited secured funding sources to meet its material external debt service payments over the coming years. Following Moody's downgrading of Lanka's sovereign credit, the Opposition parties called for urgent economic reforms through collective efforts.

Sri Lanka repays billion US dollar sovereign bond

China has seen a jump in private-sector corporate <a href="https://www.wionews.com/business-&amp;-economy/china-inc-tightens-reins-on-debt-raises-spectre-of-slowdown-139643">debt defaults</a> this year to record highs as the pace of economic growth slows to its lowest level in nearly 30 years amid trade tensions with the United States.

Authorities are also keen to wean market players off the perception that central and local-government backed-borrowers enjoy an implicit guarantee. That has led to stress among some state-backed firms and there are signs this could soon affect the offshore debt market.

The developments are, however, viewed as healthy - paving the way for more accurate risk pricing and creating more normal differentiation in yields for strong and weak borrowers.

Bankers note that stronger issuers such as Hong Kong-listed carmaker Geely and state-backed China Resources Land have had no problems attracting investors in recent weeks.

The situation in the onshore market

A record 4.9 per cent&nbsp;of privately-owned companies defaulted on yuan debt payments in the first 11 months of the year, compared with 4.2 per cent&nbsp;for the whole of 2018, according to Fitch. The credit rating agency estimates the size of the onshore corporate debt market at $2.7 trillion.

Taken together, state and private companies have missed payments on more than $14.2 billion&nbsp;of bonds in the year to end-October, not far off the $15.8 billion&nbsp;for all of 2018, according to S&amp;P Global.

Watch: S&amp;P global ratings downgrades China's economy

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Calculations show six state-owned firms and 42 private companies defaulted on payments this year.

The move by authorities to seize control of troubled Inner-Mongolia based Baoshang bank in May, with some investors taking haircuts, has led to further strains in the market.

Some issuers have missed payments, such as Hohhot Economic and Technological Development Zone Investment Development Group, a state-owned enterprise in Inner Mongolia, which defaulted on part of a $142 million bond this month.

Others have seen yields surge. These include state-backed issuers in Guizhou, China's second most-indebted province. For example, Guizhou Hongguo Development Zone Development's yield on a three-year bond maturing in January 2020 has rocketed to 14% from around 6% in the summer.

The situation in the offshore market

If defaults by state firms in China are rare, defaults on their borrowings from international investors are rarer still. But China's offshore debt market, with close to $76 billion in bonds outstanding according to Refinitiv data, is showing pockets of stress.

S&amp;P has warned risks are set to grow as more than $200 billion of debt in the offshore market will mature over the next two years, up from $89 billion in 2019.

Troubled companies include Tianjin-based commodities trader Tewoo Group, which according to <a href="https://www.wionews.com/business-economy/moodys-downgrades-china-for-the-first-time-since-1989-15988">Moody's Investors Service</a> became the first major SOE to miss a payment on and restructure an offshore bond in two decades in late November.

Many of its investors appeared to have fled, taking haircuts of 40% to 60% rather than opting for Tewoo's offer to exchange that debt for new bonds, according to a company filing and analysis by S&amp;P.

Peking University Founder Group, a holding company tied to one of China's top universities, is scrambling for funds after failing to repay an onshore bond on time on December&nbsp;2.

No repayment within the grace period - which sources say ends on Friday - will trigger $2.95 billion of cross-defaults in the offshore market, <a href="https://www.wionews.com/business-economy/china-manufacturing-activity-eases-unexpectedly-3868/amp">Nomura</a> has warned.

Some university-linked bonds have seen their prices tumble in the wake of Peking University Founder's woes.

<cn1680014=></cn1680014=>

China has seen a jump in private-sector corporate debt defaults this year to record highs as the pace of economic growth slows to its lowest level in nearly 30 years amid trade tensions with the United States.

China has seen a jump in private-sector corporate debt defaults this year to record highs as the pace of economic growth slows to its lowest level in nearly 30 years amid trade tensions with the United States. Authorities are also keen to wean market players off the perception that central and local-government backed-borrowers enjoy an implicit guarantee. That has led to stress among some state-backed firms and there are signs this could soon affect the offshore debt market. The developments are, however, viewed as healthy - paving the way for more accurate risk pricing and creating more normal differentiation in yields for strong and weak borrowers. Bankers note that stronger issuers such as Hong Kong-listed carmaker Geely and state-backed China Resources Land have had no problems attracting investors in recent weeks. The situation in the onshore market A record 4.9 per cent of privately-owned companies defaulted on yuan debt payments in the first 11 months of the year, compared with 4.2 per cent for the whole of 2018, according to Fitch. The credit rating agency estimates the size of the onshore corporate debt market at $2.7 trillion. Taken together, state and private companies have missed payments on more than $14.2 billion of bonds in the year to end-October, not far off the $15.8 billion for all of 2018, according to S&P Global. Watch: S&P global ratings downgrades China's economy × Calculations show six state-owned firms and 42 private companies defaulted on payments this year. The move by authorities to seize control of troubled Inner-Mongolia based Baoshang bank in May, with some investors taking haircuts, has led to further strains in the market. Some issuers have missed payments, such as Hohhot Economic and Technological Development Zone Investment Development Group, a state-owned enterprise in Inner Mongolia, which defaulted on part of a $142 million bond this month. Others have seen yields surge. These include state-backed issuers in Guizhou, China's second most-indebted province. For example, Guizhou Hongguo Development Zone Development's yield on a three-year bond maturing in January 2020 has rocketed to 14% from around 6% in the summer. The situation in the offshore market If defaults by state firms in China are rare, defaults on their borrowings from international investors are rarer still. But China's offshore debt market, with close to $76 billion in bonds outstanding according to Refinitiv data, is showing pockets of stress. S&P has warned risks are set to grow as more than $200 billion of debt in the offshore market will mature over the next two years, up from $89 billion in 2019. Troubled companies include Tianjin-based commodities trader Tewoo Group, which according to Moody's Investors Service became the first major SOE to miss a payment on and restructure an offshore bond in two decades in late November. Many of its investors appeared to have fled, taking haircuts of 40% to 60% rather than opting for Tewoo's offer to exchange that debt for new bonds, according to a company filing and analysis by S&P. Peking University Founder Group, a holding company tied to one of China's top universities, is scrambling for funds after failing to repay an onshore bond on time on December 2. No repayment within the grace period - which sources say ends on Friday - will trigger $2.95 billion of cross-defaults in the offshore market, Nomura has warned. Some university-linked bonds have seen their prices tumble in the wake of Peking University Founder's woes.

Explainer: Behind the climb in Chinese companies' defaults on bond payments

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%.

On Wall Street, the S&amp;P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.4% in Asia.

Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday.

Inversion remains a prominent feature across the US&nbsp;yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions.

Italy's 10-year bond yield briefly fell below 1% for the first time ever.&nbsp;

The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted.

In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016.

"Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on U.S.-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo.

"Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said.

The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further.

The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and December 15.

That means products such as smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy.

The precious metal markets highlighted investors' quest to buy safer assets.

Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak.

Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far.

The 30-year U.S. bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of U.S. shares, which stood at 2.04%.

"Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo.

In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data.

The euro was steady at $1.1084.

The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown.

The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit.

The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election.

"From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London.

Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war.

Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand.

In Asia Brent crude futures fell 0.1% to $60.43 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%. On Wall Street, the S&P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.4% in Asia. Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday. Inversion remains a prominent feature across the US yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions. Italy's 10-year bond yield briefly fell below 1% for the first time ever. The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted. In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016. "Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on U.S.-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo. "Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said. The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further. The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and December 15. That means products such as smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy. The precious metal markets highlighted investors' quest to buy safer assets. Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak. Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far. The 30-year U.S. bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of U.S. shares, which stood at 2.04%. "Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo. In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data. The euro was steady at $1.1084. The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown. The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit. The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election. "From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London. Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war. Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand. In Asia Brent crude futures fell 0.1% to $60.43 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Global markets: Bonds reign supreme, equities struggle on recession, Brexit fears

Argentine President Mauricio Macri vowed to win a second term despite a surprisingly strong performance by the opposition in the primary election that set off a shockwave through markets, crashing the peso currency and sending stocks and bonds tumbling.

Argentina: Economic crisis follows poll results

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets. Brent crude futures climbed another 34 cents in early trade to $73.82 a barrel, adding to a 2.7 percent jump overnight. U.S. crude gained 30 cents to $68.77.

The surge came on a Reuters report that OPEC’s new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement’s original target is within sight.

“The Saudis and their colleagues in OPEC need higher oil for their fiscal positions and the Kingdom is on a bold – and costly – reform program,” said Greg McKenna, chief market strategist at CFD and FX provider AxiTrader. “So, they might continue to squeeze the lemon while they have the chance and the hand.”

The leap in oil combined with fears that sanctions on Russia could hit supplies of other commodities to light a fire under the entire sector. Aluminium prices reached their highest since 2011, alumina touched an all-time peak and nickel jumped the most in 6-1/2 years. Such increases, if sustained, could fuel inflationary pressures and investors hedged by selling sovereign bonds.

Yields on U.S. two-year Treasuries climbed to levels last visited in 2008 at 2.43 percent while 10-year yields jumped 6 basis points to 2.87 percent. Resource stocks were the big winners driving Australia’s main index up 0.6 percent. Japan’s Nikkei gained 0.4 percent, led by a 1.8 percent rise in basic material stocks.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.15 percent, while E-Mini futures for the S&P 500 edged up 0.1 percent. Wall Street had also seen hefty gains in the energy and industrial indexes, though that was offset by softness in sectors such as consumer staples and financials.

IBM’s 7.5 percent drop was the biggest drag on the S&P after the technology company’s quarterly profit margins missed Wall Street targets. The Dow ended down 0.16 percent, while the S&P 500 gained 0.08 percent and the Nasdaq 0.19 percent.

In currency markets, the U.S. dollar remained very much range bound with its index flat at 89.623. It was a fraction firmer on the yen at 107.33 yen, but still short of recent peaks at 107.78. The euro hovered at $1.2379, after easing from the week’s top of $1.2413.

The Canadian dollar hit a one-week low after the Bank of Canada sounded more dovish than expected, saying it did not know when or how aggressive it would need to be on tightening in order to keep inflation in check.

Sterling was softer at $1.4205 after a surprisingly tame reading on inflation led the market to reconsider the likely pace of future rate rises from the Bank of England. Data out on New Zealand on Thursday showed annual inflation there had slowed to just 1.1 percent in the first quarter, underlining expectations that interest rates would remain at record lows for many more months to come.

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets. Brent crude futures climbed another 34 cents in early trade to $73.82 a barrel, adding to a 2.7 percent jump overnight. U.S. crude gained 30 cents to $68.77. The surge came on a Reuters report that OPEC’s new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement’s original target is within sight. “The Saudis and their colleagues in OPEC need higher oil for their fiscal positions and the Kingdom is on a bold – and costly – reform program,” said Greg McKenna, chief market strategist at CFD and FX provider AxiTrader. “So, they might continue to squeeze the lemon while they have the chance and the hand.” The leap in oil combined with fears that sanctions on Russia could hit supplies of other commodities to light a fire under the entire sector. Aluminium prices reached their highest since 2011, alumina touched an all-time peak and nickel jumped the most in 6-1/2 years. Such increases, if sustained, could fuel inflationary pressures and investors hedged by selling sovereign bonds. Yields on U.S. two-year Treasuries climbed to levels last visited in 2008 at 2.43 percent while 10-year yields jumped 6 basis points to 2.87 percent. Resource stocks were the big winners driving Australia’s main index up 0.6 percent. Japan’s Nikkei gained 0.4 percent, led by a 1.8 percent rise in basic material stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.15 percent, while E-Mini futures for the S&P 500 edged up 0.1 percent. Wall Street had also seen hefty gains in the energy and industrial indexes, though that was offset by softness in sectors such as consumer staples and financials. IBM’s 7.5 percent drop was the biggest drag on the S&P after the technology company’s quarterly profit margins missed Wall Street targets. The Dow ended down 0.16 percent, while the S&P 500 gained 0.08 percent and the Nasdaq 0.19 percent. In currency markets, the U.S. dollar remained very much range bound with its index flat at 89.623. It was a fraction firmer on the yen at 107.33 yen, but still short of recent peaks at 107.78. The euro hovered at $1.2379, after easing from the week’s top of $1.2413. The Canadian dollar hit a one-week low after the Bank of Canada sounded more dovish than expected, saying it did not know when or how aggressive it would need to be on tightening in order to keep inflation in check. Sterling was softer at $1.4205 after a surprisingly tame reading on inflation led the market to reconsider the likely pace of future rate rises from the Bank of England. Data out on New Zealand on Thursday showed annual inflation there had slowed to just 1.1 percent in the first quarter, underlining expectations that interest rates would remain at record lows for many more months to come.

Global stocks: Resource stocks rally as oil surges, bonds suffer

Apple Inc plans to issue bonds in Taiwan for the first time, with the aim of raising $1 billion, joining the list&nbsp;of big global names that have sold billions of dollars on Taiwan&#39;s busy debt market,&nbsp;sources said.

Liquidity in the Taiwanese bond market is flush, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields. Blue-chip multinationals regularly issue dollar bonds of such size on the island, home to Apple&#39;s supply chain.

In December, U.S. chipmaker Intel Corp sold $915 million of 30-year bonds with yields of 4.7 per cent. A month later, global brewer Anheuser Busch InBev SA issued a $1.47 billion bond of the same maturity at 4.915 per cent, according to data from the Taipei Exchange, Taiwan&#39;s over-the-counter market.

Cash-rich and yield-hungry investors in Taiwan have made the island a haven for debt financing. These investors tend to hold through maturity, letting issuers lock in cheap pricing.

&quot;Taiwan insurance companies don&#39;t have enough good (quality) fixed-income investment targets,&quot; said an official at a local securities house, declining to be identified as he was not authorised to talk to the media.

&quot;But their funds continue to grow because in this low rate macro-environment. Consumers prefer to buy financial products offered by insurance companies rather than park money in a bank deposit,&quot; he said.

The planned offering is likely to help Apple secure solid partnership with its suppliers, analysts said. Taiwan is home to Apple&#39;s massive supply chain that includes iPhone manufacturer Foxconn, formally known as Hon Hai Precision Industry Co, contract chipmaker Taiwan Semiconductor Manufacturing Co and lens producer Largan Precision Co.

The U.S. dollar bonds will have a tenor of 30 years and be calleable after the second year, the sources told Reuters on Wednesday, speaking on condition of anonymity.

Apple declined to comment when asked about the plan.

So far this year, upwards of $16 billion in new U.S. dollar bonds have been issued, already more than half of the $29 billion in U.S. dollar bonds sold for all of 2015, OTC exchange data shows.

The OTC exchange, where corporate bonds can trade in the secondary market, said it was not aware of any plan by Apple to issue bonds. In Taiwan, bond issuers only need three days or less to notify the exchange before being listed.

Market participants have been looking at initial yields of around 4.2 per cent to 4.3 per cent on the planned Apple bonds, two of the sources said.

Taiwan&#39;s 30-year government bond, which is less liquid in the secondary market, was last quoted around 1.6475 per cent.

Apple to issue bonds in Taiwan for the first time.

Apple Inc plans to issue bonds in Taiwan for the first time, with the aim of raising $1 billion, joining the list of big global names that have sold billions of dollars on Taiwan's busy debt market, sources said. Liquidity in the Taiwanese bond market is flush, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields. Blue-chip multinationals regularly issue dollar bonds of such size on the island, home to Apple's supply chain. In December, U.S. chipmaker Intel Corp sold $915 million of 30-year bonds with yields of 4.7 per cent. A month later, global brewer Anheuser Busch InBev SA issued a $1.47 billion bond of the same maturity at 4.915 per cent, according to data from the Taipei Exchange, Taiwan's over-the-counter market. Cash-rich and yield-hungry investors in Taiwan have made the island a haven for debt financing. These investors tend to hold through maturity, letting issuers lock in cheap pricing. "Taiwan insurance companies don't have enough good (quality) fixed-income investment targets," said an official at a local securities house, declining to be identified as he was not authorised to talk to the media. "But their funds continue to grow because in this low rate macro-environment. Consumers prefer to buy financial products offered by insurance companies rather than park money in a bank deposit," he said. The planned offering is likely to help Apple secure solid partnership with its suppliers, analysts said. Taiwan is home to Apple's massive supply chain that includes iPhone manufacturer Foxconn, formally known as Hon Hai Precision Industry Co, contract chipmaker Taiwan Semiconductor Manufacturing Co and lens producer Largan Precision Co. The U.S. dollar bonds will have a tenor of 30 years and be calleable after the second year, the sources told Reuters on Wednesday, speaking on condition of anonymity. Apple declined to comment when asked about the plan. So far this year, upwards of $16 billion in new U.S. dollar bonds have been issued, already more than half of the $29 billion in U.S. dollar bonds sold for all of 2015, OTC exchange data shows. The OTC exchange, where corporate bonds can trade in the secondary market, said it was not aware of any plan by Apple to issue bonds. In Taiwan, bond issuers only need three days or less to notify the exchange before being listed. Market participants have been looking at initial yields of around 4.2 per cent to 4.3 per cent on the planned Apple bonds, two of the sources said. Taiwan's 30-year government bond, which is less liquid in the secondary market, was last quoted around 1.6475 per cent.

Apple plans to sell 30-yr bonds worth $1 billion in Taiwan

Apple Inc plans to issue bonds in Taiwan for the first time with the aim of raising $1 billion, sources familiar with the matter said. It will be joining a queue of big global names that have sold billions of dollars on the island`s busy debt market.&nbsp; 
The U.S. dollar bonds will have a tenor of 30 years, the sources told Reuters on Wednesday, speaking on condition of anonymity. Apple declined to comment when asked about the plan.&nbsp; 
Liquidity in the Taiwanese bond market is flush, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields. Blue-chip multinationals regularly issue dollar bonds of such size on the island, home to Apple`s supply chain. 
In December, U.S. chipmaker Intel Corp sold $915 million of 30-year bonds with yields of 4.7 percent. A month later, Global brewer Anheuser Busch InBev SA issued a $1.47 billion bond of the same maturity at 4.915 percent, according to Taiwan Over-The-Counter Exchange data.&nbsp; 
So far this year, upwards of $16 billion in new U.S. dollar bonds have been issued, already more than half of the $29 billion in U.S. dollar bonds sold for all of 2015, OTC exchange data shows.&nbsp; 
Taiwan`s over-the-counter exchange, where corporate bonds can trade in the secondary market, said it was not aware of any plan by Apple to issue bonds. In Taiwan, bond issuers only need three days or less to notify the exchange before being listed.&nbsp; 
Market participants have been looking at initial yields of around 4.2 percent to 4.3 percent on the planned Apple bonds, two of the sources said.&nbsp; 
The island`s 30-year government bond, which is less liquid in the secondary market, was last quoted around 1.6475 percent. 
The planned Apple bonds will not be redeemable for the first two years, two of the sources said, citing market participants that had made enquiries.

Apple Inc plans to issue bonds in Taiwan for the first time with the aim of raising $1 billion

Apple Inc plans to issue bonds in Taiwan for the first time with the aim of raising $1 billion, sources familiar with the matter said. It will be joining a queue of big global names that have sold billions of dollars on the island`s busy debt market. The U.S. dollar bonds will have a tenor of 30 years, the sources told Reuters on Wednesday, speaking on condition of anonymity. Apple declined to comment when asked about the plan. Liquidity in the Taiwanese bond market is flush, with long-term buyers of debt, primarily life insurance firms, seeking creditworthy names and chasing higher yields. Blue-chip multinationals regularly issue dollar bonds of such size on the island, home to Apple`s supply chain. In December, U.S. chipmaker Intel Corp sold $915 million of 30-year bonds with yields of 4.7 percent. A month later, Global brewer Anheuser Busch InBev SA issued a $1.47 billion bond of the same maturity at 4.915 percent, according to Taiwan Over-The-Counter Exchange data. So far this year, upwards of $16 billion in new U.S. dollar bonds have been issued, already more than half of the $29 billion in U.S. dollar bonds sold for all of 2015, OTC exchange data shows. Taiwan`s over-the-counter exchange, where corporate bonds can trade in the secondary market, said it was not aware of any plan by Apple to issue bonds. In Taiwan, bond issuers only need three days or less to notify the exchange before being listed. Market participants have been looking at initial yields of around 4.2 percent to 4.3 percent on the planned Apple bonds, two of the sources said. The island`s 30-year government bond, which is less liquid in the secondary market, was last quoted around 1.6475 percent. The planned Apple bonds will not be redeemable for the first two years, two of the sources said, citing market participants that had made enquiries.

Apple plans to sell bonds worth $1bn in Taiwan: sources

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