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...Fitch cut its rating on the bonds to BB+ from BBB- just five weeks before voters will choose a new president....
...It usually takes a little over three months for a second downgrade to junk, which would force some funds to sell Panama’s bonds, according to Goldman Sachs analysts....
...The company’s pool of investors for the bonds has dwindled, and much of the group’s longer dated paper remains firmly in distressed territory, below a widely recognised threshold of 70 cents on the dollar...
...Singh said the move could involve a bond issue to the private sector or a loan by one or several G7 governments that would be repaid in the first instance by the interest income....
...Christine Lagarde has said the European Central Bank is likely to discuss speeding up the shrinkage of its balance sheet by ending the last of its bond purchases earlier than planned....
...Global bond prices rebounded on Thursday from a sell off in the previous session that was triggered by signs of resilient economic activity in the US and a surprise uptick in UK inflation....
...Anything higher than that just isn’t going to get done,” one bond fund manager said. Kenya’s $2bn bond maturing in June will be seen as a litmus test this year....
...Germany’s two-year bond yield fell 0.09 percentage points to 2.62 per cent....
...Eurozone government bond prices rallied, sending yields on Germany’s benchmark 10-year bond down 14 basis points at 2.33 per cent....
...Christine Lagarde said in a speech in Frankfurt on Friday that “creating a European SEC” to replace the patchwork of national markets watchdogs would help to raise the huge sums needed to tackle the triple...
...and downsize its vast bond portfolio in a major overhaul....
...ECB president Christine Lagarde pushed back against market expectations for it to cut rates as early as March, saying “we should absolutely not lower our guard” against inflationary pressures....
...Since then worries about a default have eased and the bonds have rallied, but growth and foreign investment have been lacklustre....
...Christine Lagarde hands over a small white paper bag with something surprisingly heavy inside after sweeping through the restaurant with her customary assured elegance....
...Congress is yet to approve a budget for next year, while the country’s 2036-maturing sovereign bond hit a 14-year low last month....
...“We are making good progress towards our inflation target and we are more confident as a result,” said ECB president Christine Lagarde. “But we are not sufficiently confident....
...Global stocks and bond markets retreated following remarks from European Central Bank president Christine Lagarde signalling that borrowing costs would come down in the summer rather than spring....
...But Pemex also has longer-dated bonds, including one with a 2050 maturity, which trade below that threshold....
...The moves came despite ECB president Christine Lagarde’s insistence on Thursday that it was too soon to talk about the timing of rate cuts and that the bank had “more work to be done” in its battle to tame...
...BoE governor Andrew Bailey said there was “still some way to go” before inflation sank back to the target, while ECB president Christine Lagarde said there was “work to be done”....
...Bond markets were also hit by a sell-off, with interest rate-sensitive UK two-year bond yields, which move inversely to prices, climbing 0.22 percentage points to 4.35 per cent....
...The strategy allows Mexico to fund the company’s bond payments using cheaper sovereign debt....
...The bond market clearly indicates such a course of action is required and it is rarely, if ever, wrong....
...European stocks closed higher on Thursday, despite surrendering some of their earlier gains after European Central Bank president Christine Lagarde pushed back against rate cut expectations....
...The upbeat narrative also persisted in Europe and the UK — where inflation has been far more stubborn than in the US — even as European Central Bank president Christine Lagarde and Bank of England governor...
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