Indian Yield Curve to Steepen as Flood of New Debt Saps Demand, Banks Say Investors are demanding the largest interest-rate premium in almost seven years to hold India’s 10- year bonds over one-year notes and the spread may widen as a flood of new debt saps demand, Standard Chartered Bank Plc said.
Benchmark Sensitive Index Rises; Housing Development, ICICI Bank Lead Gain India’s benchmark stock index rose, led by banks, after Macquarie Group Ltd. forecast interest rate cuts that will trigger economic recovery.
India's Sugar Output to Fall More Than Forecast, Tightening Global Supply India, the world’s second-biggest sugar maker, may produce less this year than forecast earlier because of lower harvests in all the main growing areas, likely tightening global supply.
Rupee to Strengthen This Quarter on India Growth Outlook, DBS's Wee Says India’s rupee will strengthen this quarter as growth outperforms most emerging markets and foreigners resume purchases amid waning risk aversion, according to DBS Group Holdings Ltd.
Ashok Leyland Aims to Cut Spending as Economic Slowdown Hurts Truck Demand Ashok Leyland Ltd., India’s second- biggest truckmaker, will cut spending plans by as much as 39 percent and review a venture with Nissan Motor Co. as a slowing economy saps demand for commercial vehicles.
Educomp Expects Indian Government Inquiry Into Accounts Will Settle Rumors Educomp Solutions Ltd., India’s biggest computer training company by market value, said it hasn’t received any official information about an inquiry into its accounts and that it would welcome any such investigation.
Asia Stocks Rise on Commonwealth Bank Forecast, Chip Prices; Samsung Gains Asian stocks rose for the first time in three days, led by bank and technology shares, as Japan and Australia widened efforts to revive economic growth and memory- chip prices surged.
Government Bonds Fall on Concern India May Sell More Debt to Boost Growth India’s bonds fell for a sixth day, the longest losing streak in almost seven months, as concerns mounted the government will borrow more to spur growth.
Obama's Foreclosure-Relief Plan May Offer Government Guarantees for Loans The Obama administration is considering government guarantees for home loans modified by their servicers, seeking to stem the record surge of foreclosures that’s hammering U.S. property values.
Motorola Forecasts Wider-Than-Estimated Loss for Quarter, Scraps Dividend Motorola Inc., the second-biggest U.S. seller of mobile phones, forecast a wider-than-estimated first- quarter loss and suspended its dividend, hurt by a lack of new devices to tempt consumers reeling from the recession.
UBS Lures Brokers From Goldman, Morgan Stanley With `Super-Sized' Bonuses UBS AG, the Swiss bank under investigation for allegedly helping wealthy Americans evade taxes, hired more than 200 brokers in the U.S. in the fourth quarter as it sought to counter client defections.
U.S. Life Insurer Corporate Bond Losses May Exceed Subprime, Barclays Says Corporate debt defaults may cost U.S. life insurers “substantially” more than losses on securities linked to subprime, Alt-A and commercial mortgages, said Eric Berg, an analyst at Barclays Plc.
Zimmerman's Prentice Capital Plans New Hedge Fund After Losing 88% in 2008 Michael Zimmerman, who runs New York- based Prentice Capital Management LP, plans to start a hedge fund focused on retail and consumer stocks after his main fund halted redemptions and lost as much as 88 percent last year, according to marketing documents and investors.
Sprott Says U.S. Is at Start of a Depression That Will Double Gold Prices Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.
source: Bloomberg
