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...Turkey’s sovereign wealth fund attracted strong demand for its debut international bond deal, in the clearest sign yet that investors have shrugged off last week’s shake-up at the country’s central bank....
...Reza Baqir Former Governor, State Bank of Pakistan (2019-2022); Global Practice Leader of Sovereign Advisory Services, Alvarez & Marsal, Dubai, United Arab Emirates...
...Further reading— The unbearable tightness of BoE’ing— The Bank of England is misusing its fiscal powers...
...Argentina has refinanced about $50.3bn worth of peso-denominated sovereign debt in a record bond swap aimed at relieving pressure on public accounts and easing the path for libertarian President Javier Milei...
...gillan.tett@ft.com Letters in response to this column: IMF can help fix the system of sovereign debt restructuring / From Reza Baqir, Former Governor, State Bank of Pakistan (2019-2022); Global Practice...
...“And unfortunately, when the sovereign market starts to put the hammer down in terms of discipline, that can be pretty brutal.”...
...Letter in response to this article: IMF can help fix the system of sovereign debt restructuring / From Reza Baqir, Former Governor, State Bank of Pakistan (2019-2022); Global Practice Leader of Sovereign...
...Turkey’s sovereign wealth fund is pressing ahead with plans for a debut international bond deal, testing investor appetite for Turkish assets after last week’s central bank shake-up....
...Some attribute it to appetite for higher yielding assets as the European Central Bank gets ready to begin cutting interest rates....
...Markets have also been pricing in fewer interest rate cuts on both sides of the Atlantic, with the European Central Bank more likely to cut first....
...Because investors, central banks and foreign governments around the world all hold Treasury bonds, problems in that market quickly ripple out....
...The politically convenient fiction that all eurozone sovereign bonds are risk-free means that banks need set no capital against them....
...Diamond-handed sovereign forex reserves and liability-matching pensions? Or mutual funds and/or hedgies who might prefer to trade actively across markets?...
...A wave of sovereign debt crises and costs related to mitigating the effects of climate change will require big increases in development funding, analysts said, at the same time as elections and cuts to aid...
...On top of governments’ elevated borrowing needs, central banks, which own about a third of OECD country sovereign debt, have started gradually selling down their holdings....
...Moreover, sovereign debt plays multiple roles in most major economies. It’s not just how governments finance deficits....
...Nor again the possible competitive threat from other central banks’ digital currency plans....
...trading on interbank markets and limit the hit to bank earnings from its negative interest rate policy....
...US government debt is held by nearly every big investor and central bank around the world, and is the benchmark from which many global assets are priced....
...Over the years the International Monetary Fund, the Federal Reserve, the Reserve Bank of Australia, the Banque de France the Bank of England and the Bank of Canada and the United Nations have all come out...
...Let’s reflect on the BLOCKBUSTER and RECORD-BREAKING bids we’ve seen for European sovereign bond sales this year. It’s been fertile ground for reporters....
...I see little evidence of that — rates are much higher than they were three years ago, while UK bank shares are lower. Banks like thriving economies....
...America’s regulators say new rules will help maintain the dominance of US Treasuries, and there are still weaknesses in regional banking a year after the failure of Silicon Valley Bank....
...Last year, Norway’s $1.5tn sovereign wealth fund revealed that it had lost NKr980mn, roughly $92mn, on an error relating to how it calculated its mandated benchmark....
...Update: Bank of America’s note on Allianz’s earnings has landed in FTAV’s inbox, and they make the same point as us, and predict Pimco will see inflows of €155bn over the next year as “fixed income is set...
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