UNITED STATES

The US government bonds recorded their highest sell-off in almost three months on Monday, following reducing concerns over global growth re-invigorated investors’ risk appetite. The yield on the 10-year UST grew by 8bps at 2.4938%.

Brent had a good day closing almost 1% higher after a US official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operation.

A strong day for tech stocks helped the Nasdaq Composite notch a 1.3 per cent gain. The Dow Jones Industrial Average also rose 1.3 per cent.

ASIA

Chinese tech colossal Tencent is reaching to the bond markets for $5bn, in efforts to bolster its balance sheet as they prepare to slug it out with rivals on a slew of sectors from retail to entertainment. Deutsche Bank, HSBC, Goldman Sachs and Morgan Stanley are the joint global coordinators on the bond.

China’s CSI 300 extended its highest reading for 2019 with a further advance of 0.1 per cent, while the Hang Seng index in Hong Kong gained 0.2 per cent, hovering at a nine-month high.

UNITED KINGDOM

Britain’s Parliament rejected all options put forward to replace Theresa May’s unpopular Brexit deal. Subsequently, TM will convene here cabinet today and may propose delaying the UK’s divorce from EU until year end or beyond.

The pound was 0.2 per cent weaker at $1.3071 on the back of the MPs failure to reach a consensus while The UKT yield climbed to 1.0462%.

EUROPEAN UNION

Greece are considering a part-repayment of the IMF bailout loan ahead of plan, the country is also closing in on the first set of post-bailout commitments, which will allow the disbursement of EUR 1Billion in aid.

According to the OECD, Italy’s deficit will rise to 2.5% this year and 3% in 2020 which is above government forecast. The OECD projects that the economy will contract by 0.2% this year.

European bourses rose on Monday, the Stoxx 600 rose 1.2 per cent, and London’s FTSE 100 was up 0.5 per cent. Frankfurt’s Xetra Dax 30 added 1.4 per cent. DBR advanced to 0.0278% while the EUR weakened to 1.1213 against the greenback.

RUSSIA

Rustranscom, one of Russia’s biggest rail transport companies, announced her intention to float on the London Stock Exchange. The company confirmed that they would seek to raise US$300M in an offering of primary shares, the listing is expected to happen next month, and proceeds would be used to fund growth and expansion.

Rosstat has released its first update of the flash GDP growth estimate for 2018. Headline growth remained at +2.3% YoY, while the quarterly growth rates have been bumped up closer to the +2-handle. RUSSIA 47 slightly advanced to upper 100 area, most of the corporates remained flat ALFARU 6.95 PERP outperformed gaining 70bps.

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