Michael Roche News
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Coal mines in Australia are returning to normal after rains from ex-tropical cyclone Oswald passed in Queensland, limiting price increases for the commodity used to produce power and steel.
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Yields on Mexico’s dollar- denominated century bonds are soaring to a record relative to securities due in 30 years on concern the Federal Reserve’s efforts to shore up the U.S. economy will spark inflation.
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Brazilian corporate bond yields are rising to the highest level relative to government debt in 14 months as a slowing global economic expansion erodes demand for all but the safest emerging-market assets.
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The cost of insuring against a default by Petroleos Mexicanos is falling to the lowest in almost a year relative to Brazilian counterpart Petroleo Brasileiro SA as the Mexican producer curbs overseas debt sales.
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The heaviest rainfall in Brazil since 1967, already a disaster that has killed 741 people, is adding to the fastest inflation in two years.
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Yuan-denominated bonds are the only local-currency debt among the biggest emerging nations delivering a loss as investors bet quickening inflation will force China to keep raising interest rates.
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Cemex SAB, the largest cement maker in the Americas, has become the biggest Mexican issuer of debt overseas this year after reviving a sale it scrapped last month as Europe’s debt crisis roiled global markets.
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Reserve Bank Governor Glenn Stevens said Australia has room to adjust interest rates in response to a global slowdown as Treasurer Wayne Swan called on European nations to balance economic growth with fiscal tightening.
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A rally in the Mexican peso and inflation near a five-year low are luring a record amount of foreign investment into the country’s bond market.
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The euro fell toward its weakest level in a decade against the yen on speculation Greece is nearing default and as Italy’s borrowing costs rose at a sale of 3.9 billion euros ($5.3 billion) of bonds.
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