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...Bond fund giant Pimco is holding a smaller than usual position in US Treasuries and prefers the bonds of countries such as the UK and Canada, as it believes inflationary pressures may lead the Federal Reserve...
...This means that if a bank lends cash to a hedge fund in exchange for temporary ownership of a Treasury bond, and the value of the bond decreases just as the hedge fund defaults on the trade, the bank loses...
...The Turkey Wealth Fund notched up $7bn in orders for its $500mn US dollar-denominated bond deal on Wednesday, according to a term sheet seen by the Financial Times....
...The Australian dollar dropped 0.6 per cent against the US dollar to A$0.65, and yields on the country’s two-year Treasury bill rose 0.16 per cent to 4.075 per cent. Yields move inversely to prices....
...Ukraine’s bonds are trading at about 25-30 cents on the dollar. The Ukrenergo bond has risen from 18 cents on the dollar a year ago to about 36 cents....
...New York’s attorney-general has urged a judge to invalidate a $175mn bond posted by Donald Trump to halt enforcement of a half-billion dollar fraud judgment against him and his businesses, arguing that it...
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...Inflows into corporate bond funds have reached $22.8bn so far in 2024, according to fund tracker EPFR, the first positive start to a year since 2019, when $22.4bn had flowed in by this point....
...The Central American nation priced $1 billion in debt due in 2030 at 89.923 cents on the dollar to yield 12%, according to people familiar with the matter....
...A rival macro hedge fund managed by Chris Rokos, a co-founder of Brevan Howard, gained 9 per cent last year, and made a billion dollars at the start of this year betting that US interest rates would not...
...US hedge fund Elliott Management has been buying the bonds of troubled British utility company Thames Water, in a bet that markets have grown too pessimistic over the size of losses that investors may have...
...US hedge fund Elliott Management has instead been on a buying spree, betting that the market has grown too pessimistic over potential losses....
...Many had been running large bets against bonds, which rocketed in price in a flight to safety and as investors questioned how much further the US Federal Reserve could raise interest rates....
...Banks hired by the Turkey Wealth Fund began pitching investors on a US dollar-denominated bond this week and started taking orders on Wednesday, according to documents seen by the Financial Times....
...Apparently some German investors had loaded up on them simply because they offered juicier yields than Uruguay’s dollar bonds even after hedging for the different currencies....
...fund....
...Others are calling for rich countries to use reserve assets dispensed by the IMF, the special drawing rights (SDRs) which equate to hundreds of billions of US dollars, to back more bond sales by the World...
...Zambia has agreed a revised deal to restructure nearly $4bn in US dollar bonds with private investors, moving the bankrupt southern Africa nation closer to exiting a years-long default after months of tensions...
...This is not the US’s appallingly dysfunctional politics. Nor the weaponisation of the dollar thanks to geopolitics....
...And yet: Passive bond funds have seen cumulative inflows of nearly $2.8tn since the beginning of 2007....
...Kenya is preparing to sell US dollar debt, capitalising on a thaw in markets to refinance a $2bn bond repayment later this year that had threatened to strain the finances of east Africa’s largest economy...
...alike,” said Mike Riddell, a bond fund portfolio manager at Allianz Global Investors....
...Inflows into US bond funds in the first week of March reached the highest level since 2021, according to EPFR data....
...stocks and bonds, and trading of investment funds that include Chinese companies....
...The world’s largest convertible bond manager has unveiled a “synthetic convertibles” exchange traded fund to spread the concept to companies that are so cash-rich they do not need to issue real bonds....
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