FINANCE GUIDE, thirteenth episode -After almost a decade of very low, or even negative, returns, bonds have become an interesting investment again. How to orient yourself in the choice and what factors to consider? The main characteristics of a bond consist of duration,…
How do you navigate the complex world of bonds and how do you choose the right one? Tomorrow the thirteenth episode of Guida alla finance will explain it on FIRSTonline, created by Ref Ricerche with the collaboration of Allianz Bank...
Having averted, for now, the US shutdown and awaiting Moody's assessment on Friday night, the Chief Global Strategist of Intermonte outlines the international scenario and indicates some paths to follow to compose one's portfolio, both in the world of...
The end of the rate hike cycle opens up new investment opportunities in bonds, according to many experts. Stock markets: Milan rises but without enthusiasm
FS has launched its first dual tranche issue. It is aimed at purchasing green trains and supporting high speed
The new fixed-rate bonds will have 4- and 10-year terms and are part of the company's Euro Medium Term Note programme. The First Tranche of the buyback will start in the next few days
Let's see in detail what exactly AT1 bonds are and why they have caused so much noise in the markets, and above all why now
According to Michael Wilson of Morgan Stanley we are in the last phase of the "bear market", but the worst is over. Positive opening for the European stock exchanges, btp under 4%, down the spread
While the second phase of the placement reserved for institutional investors is underway, the Treasury has announced the final real annual coupon rate
Milan at the top of the European stock market in the wake of the banks - The Stoxx Banks index has reached new highs since 2018 due to the rate hike
Amco announces a liability management transaction on I would prefer unsecured senior bonds maturing July 17, 2023
INTERVIEW with Invesco strategist LUCA SIMONCELLI who explains the current situation of the markets and gives some indications for the composition of the portfolios
Eni announces the early closure of its sustainability linked bond. Meanwhile, judgments are arriving from JP Morgan and Credit Suisse
On the second day of issue, applications from savers largely exceeded the maximum amount. And the company confirms the increase to 2 billion
We could be facing a trend reversal. It is no longer advisable to leave liquidity in current accounts. Rates on deposits are up slightly, but rates on bank bonds are much more. Loan rates are also rising
The 2023 of bonds starts with the turbo in the first week, with record issues in Europe and important operations also in Italy. Eni leaves on Monday
For the first time, Eni is offering small savers a sustainability-linked bond, ie indexed to sustainability objectives. The offer, up to 2 billion, opens next Monday. Minimum denomination 2.000 euros.
The Treasury focuses again on long maturities and announces the issue of a new 20-year BTP maturing in 2043 - Thursday the auctions on 3- and 7-year bonds
In August, the stock exchanges lost about 4%: inflation and interest rates scare them - The balance of bonds is also bad: the German Bunds lost 6%
April's budget on the stock exchange and on the markets is black for bonds in view of the rise in US rates. Late night for the technological, both Emerging and Western price lists are bad
Bond in great shape but Bags down in tone in the first session of the Easter week - Leonardo shines in Piazza Affari in view of the European defense industrial hub
INTERVIEW WITH ANDREA CONTI, Head of Macro Research at Eurizon (Intesa Sanpaolo group) -The recovery of the stock markets is linked above all to the expectation of a diplomatic agreement, oil, fiscal policies and global growth which remains solid
The Bund returned to zero yield for the first time, Tokyo resisted but only briefly and the Treasury rose to 1,84%. Escape from stocks? It's early to say but energy is flying and emerging bonds are popular
The Chinese real estate giant has not paid the interest due and has only 30 days to avoid bankruptcy: a possible storm on Asian bonds, but for now the stock markets are absorbing the blow well and Wall Street is rallying…
It's a race for bonds: The Chinese giant has placed four series of bonds, one of which is green. Important operations also for Iliad and Italgas.
The institute of Piazza Gae Aulenti has placed a senior preferred bond in two tranches, each of one billion - Banco Bpm instead comes a perpetual bond of 400 million
After the success of the first issue, Brussels is preparing for the second, expected in December The amount offered will be 13 billion - Commissioner Hanno: "the EU has taken a step towards a leading role in global debt markets"
In a few hours, the first community issue to finance national redundancy funds reached 233 billion
After yesterday's crash, stock markets hope today to find the way to a rebound - Capital moves towards the bond market
Berlin has placed 6,5 billion green bonds on the market, requests exceeding 30 billion - The first green BTP is expected in the autumn, but before Italy it's Luxembourg's turn
Italian companies stock up on the necessary liquidity to offset the negative effects of the Covid-19 pandemic - From Leonardo to FCA, utilities are running for corporate bonds, but the big Americans are also in turmoil
The FCA Group intends to issue bonds in Euros - Final terms will be determined by market conditions and will be listed on the Irish Stock Exchange
The Anthilia Bit IV co-investment fund has subscribed 1 million. This is the second tranche of the 40 million green bond issued last December by the Turin energy company - The bond will expire on June 29, 2027, a…
In the context of the great success recorded since 2019 by Green Bonds, Governments have so far remained on the sidelines - 2020, according to Intesa Sanpaolo's Studies and Research Department, could become the year of government green bonds
Several institutions in our country have already started contacts with investment banks to launch new placements in the second half of February - The total amount should be around 4 billion euro
In its report on the performance of intermediaries Assosim crowns Finecobank, Banca Imi and Banca Akros in the ranking relating to the stock market and Banca Akros, Banca Imi and Invest Banca in the bond market - Here are all the data
The placement is aimed at supporting the group's growth plans - Cassa Depositi e Prestiti participated as an anchor investor with 20 million
From Generali to Terna, from Enel to Hera, the big names in Piazza Affari focus on green bonds: in 2019 issues doubled to 5,4 billion
The bonds are of the senior unsecured type and have a five-year maturity - Moody's rating on Rai is Baa3, with a negative outlook
The bonds have a five-year maturity and the issue price was set at €99,421, with a fixed annual coupon of 2,5%.
Ubi Banca will allocate 0,50% of the nominal value of the social bonds to carry out the "More recovery, closer" project aimed at supporting the activity of the Food Bank which deals with the recovery of surpluses from the agri-food chain
New injection of 75 billion from the Fed on the bond market and Wall Street is hunting for new records - D-day for Carige and the Peninsula fund saves Mediaset
The Associazione Intermediari Mercati Finanziari sums up the first half of 2019 by crowning the most active companies on the platforms managed by Borsa Italiana, Eurotlx, Hi-Mtf and Equiduct
Economy Minister Giovanni Tria announced that in a few days "150 million Panda bonds will be issued" - What are they about, who can participate, but above all why are they called that? Here's everything you need to know
Invesco Annual Report Analyzes Current Market Trends - If Sovereign Bonds Prefer Bonds, Abandon Equities, Central Banks Focus on Gold and Renminbi - Here Are the Key Trends
The bond is of the non-preferred senior type - The initial price indication is in the area of 125 basis points of spread on the midswap rate
The Tier 2 bond has a repayment option 5 years after issue, is worth a total of 500 million euro and guarantees a fixed coupon of 5,875% - The demand, coming from around 75 investors, reached a coverage ratio equal…
The issue, maturing on April 11, 2024, has a yield of 4,125%, lower than the average cost of the group's debt (4,4%) and 387,6 basis points above the reference rate
Faced with the bearish trend of the Stock Exchanges, the desire for bonds explodes and their yields fall - All eyes of the markets on the moves of the Fed and the ECB - Tomorrow is Brexit D-Day - The Government Maneuver…
Gubitosi-led Tim debuts on the stock exchange today - The issuance of Btp Italia too, which foreign investors like, but the Italian budget maneuver faces rejection by the EU - The USA and China are still arguing -…
INTERVIEW with ALESSANDRO FUGNOLI, Kairos strategist - Since August, Facebook, Amazon, Alphabet and Netflix have lost 500 billion dollars on the stock market and now "it's a question of recalculating share multiples" - But the higher price of uncertainty risks…
Since the Lega-M5s government took office, the Stock Exchange has lost 13% of its value, the bond market has lost over 17 billion, that of government bonds 35,6 - Mirror of uncertainty and low confidence in the Italy is the…
AXA REPORT - One possible evolution of the fixed income cycle is one in which real rates and yields rise on the back of robust growth and appropriate monetary policy intervention in response to mounting pressures…
The security matures in September 2023 and is intended for institutional and qualified investors - Rating expected by Moody's A1 and price indications at 95 basis points above the midswap rate
The financing transaction is reserved for professional investors, with a six-monthly coupon and expiring in 2023. The ceramic company's goal is to start a circular economy path for the production of ecological cobblestones, create a Made in Italy ceramic pole…
With the increase in the differential, yields on the Italian bond market have risen and it is no longer convenient for companies to raise capital by issuing new bonds - Atlantia's turnaround demonstrates this, which has preferred the path of a bank loan
The founder and number one of Kairos explains in a simple and understandable way to all the main mistakes to avoid in order to defend one's own assets when deciding on financial investments and above all when the markets are becoming increasingly…
Two new collection bonds issued by Banca IMI are listed on the Mot and on EuroTLX: one at a mixed rate in euro with a 10-year maturity, one at a mixed rate in dollars with a duration of 8 years.
The public offer of the bonds on the regulated market of the Luxembourg Stock Exchange and on the Borsa Italiana electronic bond market, up to a maximum amount of 250 million euro, will end on 24 April
The bond has a duration of 2 years and pays a gross annual fixed coupon of 4,15% - The minimum amount is 10 renminbi, equal to just under 1.500 euros.
Intesa Sanpaolo will proceed with the cancellation of 9,3 billion bonds issued by Banca Popolare di Vicenza and Veneto Banca, at the same time renouncing the state guarantee on them.
Morning of selling on bonds in Europe despite the ECB's confirmation of an accommodating rate policy. And the price lists turn red. In Milan, Unicredit shines after record accounts, Bpm and Bper are also in evidence. Instead, make…
From "IL ROSSO E NERO" by ALESSANDRO FUGNOLI, strategist of Kairos - Supercrescita, supereuro and superbourse but "someone said that the biggest bond bear market of the last thirty years is looming" - What should whoever has in hand…
The savings and private banking group launches Kis Financial Income and focuses on subordinated debt securities of the financial sector. The management team is led by Rocco Bove who boasts a long experience in the sector
The Mef, the new majority shareholder of the Sienese bank, will purchase the shares deriving from the forced conversion of the senior bonds in exchange for a new, more guaranteed bond and, in doing so, will rise from the current 52,2% to almost 67,76% of the capital Of…
From Advise Only - The bond market is increasingly launching itself on superhuman maturities. But does it make sense to invest your money in a secular bond?
Today's placement of the 1 billion euro bond divided into two tranches of 500 million, which took place at the end of a short roadshow, closed with requests exceeding 8 billion euro.
The issuance is part of a broader corporate debt refinancing operation. The entire operation is managed by numerous banks and rating agencies, including Bnp Paribas, Credit Agricole, HSBC, Unicredit, Jp Morgan and Goldman Sachs.
There are many groups, including Snam, Telecom, Enel, Ubi and Intesa Sanpaolo, which have pushed the bond accelerator in recent months - The goal is to take advantage as much as possible of rates close to zero, waiting for …
The board chaired by Carlo Malacarne has decided to renew the medium-term bond issue program already launched in 2012, confirming the maximum ceiling at 10 billion. New issues by October 6th.
Successfully completed the placement on the market of a senior bond of 597,2 million euro. Further strengthened the liquidity position and diversified sources of funding.
The institute based in Mestre which deals with commercial credit and funding in the retail market, has undertaken the process that will lead to the possible Tier2 subordinated bond issue. Should the transaction take place, it will be listed on the…
The new issue, with an 8-year maturity, offers a gross annual yield linked to the trend of the three-month Euribor rate increased by a spread of 1,00%, corresponding, even in the event of a negative scenario, to a minimum coupon of 0,50 ,XNUMX%
The transaction concerns subordinated securities for a total amount of 510 million - Prices at 30% for Tier 1 and 70% for Tier 2.
The investment bank of the Intesa Sanpaolo group has listed a new fixed-rate bond in Turkish lira on the Mot. The gross yield is 11% per annum in currency terms
Chris Iggo, AXA Investment Management's chief investment officer for global fixed income, warns of expectations of massive yield uptick and suggests a range of moves to protect and strengthen capital
The transaction was carried out in the context of the optimization strategy of the Italian electricity giant's liability structure through active management of maturities and the cost of debt. The settlement date will be August 2, 2017.
These are two fixed-rate senior bonds in US and Australian dollars that can be purchased and resold directly through your reference bank or via e-banking
FROM THE GLOSSARY OF FINANCIAL EDUCATION "Words of economics and finance" by the Global Thinking Foundation - The case of the Veneto banks brings bonds back to the scene: but are they really safe? Here are all the types of bonds, with risks and…
The final spread was set at 105 basis points above the midswap, 15 points less than the initial guidance.
After the go-ahead from Brussels for the recapitalization of Monte dei Paschi, 40 savers who hold subordinated bonds hope to be compensated but the repayment will only be triggered in cases where the bank's impropriety is demonstrated -…
From WORDS OF ECONOMY AND FINANCE edited by the GLOBAL THINKING FOUNDATION - Bonds are debt securities issued by States, companies, public administrations or international organizations to finance themselves - Households and institutional investors are the main investors -…
From the Blog Advise Only - The PIRs are experiencing good success just a few months after their introduction. There are few compatible titles, demand is high and their prices are growing rapidly. But it's not all gold.
FROM EQUITA'S WEEKLY REPORT - Macron's victory in the first round, and the probable one in the second, would lead to a generalized reduction of risk on the asset classes linked to the euro, in relation to both the government and corporate sectors -…
From the ADVISEONLY BLOG - Interest rates are destined to rise again, with the first touch-up yesterday to the US ones which the Fed will follow up with others. What is the point of investing in the bond market in this context?
Snam successfully placed the 400 million euro equity-linked bond maturing in March 2022
In a seminar in Florence, the CEO of Nextam Partners Carlo Gentili and Sam McGairl, manager of the European Syndicated Loans fund of Muzinich & Co, illustrated the current scenario of interest rates and presented some alternative investment solutions, in…
The political uncertainty that characterizes Italy and France worries the financial markets, especially on the bond side - Ctz auction today - The dollar pushes the Asian markets: China and Korea to the top - Oil also rises - Jefferies…
AXA Investment Managers' CIO Bonds, Chris Iggo, discusses the possible impact of the rise of populism (in the US and Europe) on long-term trends in bond markets and inflation -
The European Bank for Reconstruction and Development, for the first time in continental Europe after more than 15 years, will issue a product intended for retail sale. It is a rising fixed-rate bond with a maturity of…
TAKEN FROM THE ADVISE ONLY BLOG - The Sienese bank has placed two new bonds, for a total value of 7 billion, but the entire issue has been repurchased by Mps - It is a kind of bank credit line: when…
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - In a world dominated by absolute confusion, the first thing to do in asset management "is to fortify the monetary-bond defensive part as much as possible" and then "delimit…
The bonds will be sold on the market or used as collateral to guarantee financing operations during 2017.
Yesterday Italgas placed its first bond issue divided into two tranches, for 5 years and 10 years at a fixed rate, each for 750 million euro - The new bond issued by Telecom Italia instead amounts to…
The oil group has announced that it has placed a 10-year fixed-rate bond issue with institutional investors at a price of 99,229 percent
Salman Ahmed, Chief Investment Strategist at Lombard Odier Investment Managers outlines the three biggest challenges facing bond investors for 2017 and their implications for portfolio management - Interest rates, market risks and liquidity…
The new operation will concern about 40 small bondholders who own subordinated bonds issued in 2008 and maturing in 2018, Tier 2 category - Three different paths are open to MPS bondholders: participate in the capital increase, wait for the intervention…
Chris Iggo, CIO Bonds, AXA Investment Managers explains - how to protect the bond portfolio from post-Brexit risks - According to the analyst, there is very little to be optimistic about.
Riyadh has set a new record for an emerging country, stealing the primacy from Argentina - The issue is part of the transformation plan of the Saudi economy, in search of new sources of revenue after the collapse in oil prices that created…
The operation is part of the Euro Medium Term Notes (Emtn) program approved by the Board of Directors on 27 September - The new issue follows the one launched on 10 October for a total amount of 1,25 billion euro, with…
