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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...
...Foreign fund managers have bought about $2bn in lira-denominated Turkish government bonds since the start of June, central bank data shows....
...since the start of the year, reflecting the fall in bond prices....
...He added that he currently has a larger than usual holding of European government bonds and has been “moving in [the] direction” of acquiring more....
...The interest rate sensitive two-year German government bond yield — a benchmark for the eurozone — surged 0.05 percentage points to 2.91 per cent, its highest level since November....
...The move brings the UK closer in line with other major bond markets, which already sell bonds directly to the public, such as the US Treasury, which sold $580bn in bills and $20bn in bonds and Treasury inflation-protected...
...European investors have tended to opt for US junk bonds in recent years....
...alike,” said Mike Riddell, a bond fund portfolio manager at Allianz Global Investors....
...European bonds rallied after slightly cooler than expected inflation from Germany — the benchmark for the eurozone — boosting conviction that the European Central Bank will soon start cutting rates....
...The average investment-grade US bond spread is now hovering around its tightest, or lowest, level since September 2021, six months before the Fed started raising interest rates....
...Italian bonds have been buoyed by a flood of money from retail investors....
...Pension funds are piling into UK corporate bonds, encouraging some French and German companies to issue sterling debt for the first time....
...However, the Treasury added that it expected this to be the last increase in auctions of so-called coupons — as longer term bonds are known — for a while....
...So [when] you have bad economic data, you have a strong positive impact on bonds and very negative on equities, he said, adding that it meant “bonds again will offer some diversification”....
...The level of the coupon will depend on when the bond was issued, with low-coupon bonds offering higher capital gains at maturity than higher-coupon ones with a similar maturity date....
...So far a glut of bond issuance this year has been easily absorbed by markets....
...UK government bonds were briefly sold off after the Treasury announced plans to increase borrowing by around £5bn more than investors had expected, but quickly recovered....
...The bloc’s members have sold €200bn of bonds since the start of 2024....
...The share of inflation-linked bonds is also far higher than other nations at about a quarter....
...In practice, however, it’s all a bit more complicated . . . those who know more about this than me, any thoughts to mary.mcdougall@ft.com will be warmly received....
...Two of the UK’s largest fund managers have begun using corporate bonds to underpin their leveraged gilts trades, aiming to bolster their portfolios against the sharp moves that shook the UK government bond...
...January’s bond market sell-off comes on the heels of one of the sharpest two-month bond rallies for decades late last year, fuelled by slowing inflation and dovish comments on rates from the Federal Reserve...
...Gold, an asset with no yield, benefits from lower borrowing costs as investors feel they have not missed out so much by not putting their cash into bonds....
...The bumper demand for Spanish bonds comes after debt sales in Belgium and Italy on Tuesday also attracted frenzied orders: Belgium received a record €75bn in bids for its 10-year bond, while Italy received...
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