Spot Gold Extends Losses, Falls 3.3% to Weakest Since October 2010
Securities
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WASHINGTON, Feb 27- Many mom and pop investors buy Treasury inflation-protected securities in the belief that they are as safe as safe can be: The full faith and credit of the U.S. government stands behind them, and their returns adjust to keep up with inflation. But here's a fact that some may find surprising.
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CAPE TOWN, Feb 27- Subdued European demand for its exports forced South Africa to cut its 2013 economic growth forecast on Wednesday, while missed revenue targets looked to be creating a wider budget deficit than first thought.
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NEW YORK, Feb 27- The euro rose against the dollar for the first time in three sessions on Wednesday on relief over solid demand for Italy's first bond sale since the country's general elections, but the potential for political uncertainty will likely contain any upside.
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NEW YORK, Feb 27- Argentina will seek on Wednesday to persuade a U.S. appeals court to reverse an order that it pay $1.3 billion to a group of dissident bondholders stemming from the country's 2002 default, a showdown that could have wide impact on global debt markets.
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*Treasury to auction $29 billion seven-year notes. *Fed buys $5.02 billion debt due 2017. There is still that uncertainty bid and a little bit of a technical bid, "said Lou Brien, market strategist at DRW Trading in Chicago.
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CAPE TOWN, Feb 27- Subdued European demand for its exports forced South Africa to cut its 2013 economic growth forecast on Wednesday, while missed revenue targets looked to be creating a wider budget deficit than first thought.
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NEW YORK, Feb 27- Bill Gross, founder and co-chief investment officer of bond giant PIMCO, told investors in a monthly letter on Wednesday they should expect lower returns from high-yield corporate bonds.
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*Treasury to auction $29 billion seven-year notes. *Fed to buy $4.25 billion to $5.25 billion debt due 2017. It may be month-end extensions, or fear of sequestration, but the market has a very strong bid to it, "said Charles Comiskey, head of Treasuries trading at Bank of Nova Scotia in New York.
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*International investors now play major role. DUBAI, Feb 27- In April last year, Dubai's government issued an Islamic bond and sold nearly two-thirds to investors in the Middle East. Now sukuk are becoming mainstream investments, bought by a wide range of investors including some far from the region in Europe and the United States.
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*Italy bonds, European stocks up after Italy bond auction. NEW YORK, Feb 27- U.S. stock index futures were little changed on Wednesday as investors awaited a second round of testimony in Congress by Federal Reserve Chairman Ben Bernanke for signs of whether the Fed will continue its economic stimulus program.
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LONDON, Feb 27- European option investors have sought protection against a further 5 percent stock market slide in the coming weeks after an Italian election that threatened political stalemate and more market uncertainty.
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*German debt in demand ahead of Italy bond sale. Federal Reserve about its stimulus programme helped stabilise the euro and European shares on Wednesday, as Italy prepared to test the reaction to its inconclusive election in the bond market.
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TOKYO, Feb 27- The benchmark 10- year Japanese government bond yield fell to a near 10- year low on Wednesday as investors continued their flight-to-quality after an inconclusive Italian election raised concerns that efforts to resolve the euro zone debt crisis could suffer.
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Feb 27- Target Corp on Wednesday offered a cautious outlook for consumer spending in 2013 following a weak holiday quarter and said it was on track with its massive Canadian store opening plans this year. "We have a tempered view of the near-term sales environment," he said, adding that shoppers, or "guests" as Target calls them, are "quite resilient."
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NEW YORK, Feb 27- There may be no such thing as a sure bet on Wall Street, but junk bonds have come pretty close over the past four years. A widely followed measure of the sector, the Bank of America/ Merrill Lynch High Yield Master II Index, hit an all-time high last month and sits just a smidgen below that record.
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NEW YORK, Feb 27- Argentina will seek on Wednesday to persuade a U.S. appeals court to reverse an order that it pay $1.3 billion to a group of dissident bondholders stemming from the country's 2001 default, a showdown that could have wide impact on global debt markets.
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*Italy bond auction could signal euro direction. Markets are already uneasy after the election produced no clear winner and the single currency could lose ground again if Italy is forced to pay far higher borrowing costs than before the polls.
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TOKYO, Feb 27- Benchmark 10- year Japanese government bond yield fell to a near 10- year low on Wednesday as investors' continued their flight-to-quality after an inconclusive Italian election raised concern that efforts to resolve the euro zone debt crisis could suffer.
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MUMBAI, Feb 27- After long failing to act on foreign investor complaints, Indian policy makers find themselves in an ironic bind: As global interest in Indian derivatives surges, it is Singapore, not Mumbai, that is reaping the benefits.
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WASHINGTON, Feb 26- Global regulators will ask the public for more comments before publishing a report on how to fix financial benchmarks after the Libor interest-rate rigging scandal, U.S. derivatives regulators said on Tuesday.
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