Germany sells 30-year bonds with negative yields but demand weak August 21, 2019 The German government has sold 30-year bonds with a negative yield for the first time, but failed to drum up as much interest in the debt as it had hoped. Read more: German central bank warns economy could already be in recession The country’s finance ministry put €2bn (£1.83bn) of ultra-long bonds up for sale [...]
UK government spending surplus shrinks in July August 21, 2019 The UK government earned £1.3bn more in taxes than it spent in July 2019, official figures showed today, a smaller surplus than economists had expected. Read more: Chancellor Javid to simplify’ the tax system in Autumn budget Analysts predicted a £2.7bn surplus in public borrowing in the first figures under new chancellor Sajid Javid, but [...]
Germany to sell 30-year bonds with zero interest for first time August 20, 2019 The German government will tomorrow offer investors the chance to hand over their money to the finance ministry for 30 years – and receive no interest for the privilege. Read more: German central bank warns economy could already be in recession In a sign of ballooning global demand for ultra-safe assets, Germany will auction 30-year [...]
“Equity” or “Debt”? Standard-setters must draw a clear line August 20, 2019 | City Talk The concepts of “debt” and “equity” are as old as human conversation. The concepts are not only used in business dealings but also are very much part and parcel of our day-to-day musings, for example, the question “Can I borrow your book?” or the phrase “I loved the gift you gave me on my birthday!” both [...]
Manufacturers’ pains soften despite ‘Brexit millstone’ hampering firms August 20, 2019 Britain’s manufacturing headaches softened slightly over the last three months, with output stabilising despite “relentless Brexit uncertainty” continuing to weigh heavy on the industry. Manufacturers reported output fell less sharply over the three months to August, according to the CBI’s monthly industrial trends survey, meaning the industry is still in decline but the rate of [...]
Bond yields fall as Trump calls for cut and ECB hints at stimulus August 20, 2019 Yields on global bonds have fallen following a renewed call for interest rate cuts from US President Donald Trump and dovish words from European Central Bank (ECB) board member Olli Rehn. Read more: Eurozone inflation falls to well below ECB target in July Trump yesterday evening called for a 100 basis point (one percentage point) [...]
German finance ministry warns no-deal Brexit a ‘high probability’ August 17, 2019 The German government believes there is a “high probability” that a no-deal Brexit will occur on 31 October. An assessment made by the finance ministry came to the conclusion it is “inconceivable” that Prime Minister Boris Johnson softens his stance on the Irish backstop. Read more: Corbyn fails to drum up support for plan to [...]
US and European stocks buoyed by ECB rate cut expectations August 17, 2019 US and European stocks soared on Friday as expectations the European Central Bank will cut interest rates rose, helping the dollar to hit a two-week high against the euro. The dollar was also aided by promising data that showed a jump in US homebuilding permits to a seven-month high. Read more: US stock markets jump [...]
Chancellor Javid to ‘simplify’ the tax system in autumn budget August 17, 2019 Chancellor Sajid Javid has suggested he will simplify the tax system when he sets out his first budget in the autumn. Javid said he was a “low tax guy” and that it was important to “always be thinking about the lowest paid” in his first interview since taking on the role, speaking to The Times. [...]
Hong Kong economy grows less than expected as recession fears hit August 16, 2019 Hong Kong’s economy grew less than expected at just 0.5 per cent year-on-year for the second quarter, the government revealed on Friday. It comes amid growing tensions between the US and China as the trade war rumbles on and on the back of continued unrest in the financial hub, igniting fears it could tip into [...]
