Peter Schaffrik

Peter Schaffrik News

• Portuguese, Irish Bonds Advance as Investors Await Fed Meeting

  Portuguese bonds rose for a second day as investors bet Federal Reserve Chairman Ben S. Bernanke will seek to ease concern a reduction of debt buying will roil financial markets.

• Italy’s 10-Year Borrowing Costs Fall to 2 1/2-Year Low at Sale

  Italy’s 10-year borrowing costs declined to a 2 1/2-year low at an auction today after new Prime Minister Enrico Letta was sworn in, ending a two-month political standoff caused by inconclusive elections.

• Portuguese Yields Jump on Bailout; German Bunds Decline Before ECB Verdict

  Portuguese bonds dropped and German 10-year government debt yields reached a 20-month high after the Iberian nation sought a bailout and investors bet the European Central Bank will raise interest rates today.

• German Bonds Drop as Danish Debt Slides on Pension Reform

  German bonds declined, with 30-year yields posting the biggest two-day increase since 2009, as Denmark’s decision to ease liability rules for pension funds damped demand for longer-maturity fixed-income assets.

• Irish Government Debt Slides on Deficit Woes; Greek Bonds Rally After Poll

  Irish bonds tumbled for a 10th consecutive day and the extra yield investors demand to hold the debt instead of benchmark German bunds reached a record on concern the nation is struggling to redress its budget deficit.

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  French Yields Drop at First Bill Sale Since S&P Downgrade of Nation’s Debt

  French borrowing costs fell at the country’s first bill sale after Standard & Poor’s stripped the nation of its top credit rating as investors shrugged off the downgrade.

• Treasury Yields Near Six-Week Low on Weaker Stocks, China Rate Speculation

  The two-year Treasury yield was near the lowest in six weeks as stocks declined and accelerating Chinese economic growth fuelled concern the government will raise interest rates further to calm inflation.

• German Bonds Fall After Auctions, Inflation Surge; Greek Yields at Record

  German two-year bonds fell as a measure of inflation in Europe’s largest economy accelerated to the fastest pace in more than 29 years last month and the nation sold 30-year debt.

• Montoro Says Spain to Discuss Pace of Budget Cuts With EU

  Spain’s government plans to negotiate the pace of its budget cuts to ensure the economic slump doesn’t deepen after Prime Minister Mariano Rajoy said the nation made “unprecedented” efforts in 2012.

• Euribor-OIS Spread Widens; Costs to Swap Euro Payments for Dollars Rises

  The Euribor-OIS spread, a measure of banks’ willingness to lend to each other, reached the widest level in 2 1/2 years, a sign of mounting financial-market tension in the euro area.

Quote

• "The focus is on the FOMC and the Bernanke press conference."

  - Peter Schaffrik on Jun 17, 2013

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Peter Schaffrik Videos

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• RBC’s Schaffrik Recommends Italian, Spanish Bonds

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• RBC’s Schaffrik Forecasts a Lower Euro, Feb. 7

• RBC's Schaffrik Says QE3 Is Highly Unlikely