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LONDON (Reuters) - Britain is likely to sell nearly 250 billion pounds ($347 billion) of government bonds in the coming financial year - the second-highest total on record - to help power an economic recovery from the COVID-19 pandemic, a Reuters poll of dealers showed on Tuesday.
FILE PHOTO: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company s headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo
The survey of all 15 wholesale primary dealers, or banks tasked by the government with creating a market for its bonds, pointed to gilt issuance of about 247.2 billion pounds for the 2021/22 financial year starting in April.
Britain will extend its huge job-protecting furlough programme by five months until the end of September and expand parallel support for the self-employed, finance minister Rishi Sunak is due to announce in a budget speech on Wednesday.
RBA holds cash rate and 3-yr yield target at 0.1% Says committed to yield target, to buy more bonds if needed (Adds comment from CBA economist in pars 7,8, 11)
SYDNEY, March 2 (Reuters) - Australia’s central bank on Tuesday affirmed its pledge to keep interest rates at historic lows as policymakers battle to stop surging bond yields disrupting the country’s surprisingly strong economic recovery.
Concluding its March board meeting, the Reserve Bank of Australia (RBA) kept rates at 0.1% and committed to maintaining its “highly supportive monetary conditions” until its employment and inflation goals are met.
Global bond markets have sold off heavily in recent days on speculation the massive monetary stimulus will soon end as economies emerge from the pandemic-induced recession.
Emerging market stocks and bonds saw foreign net inflows of about $31.2 billion in February, though rising U.S. rates triggered a slowdown during the last week, data from the Institute of International Finance showed on Tuesday.
By Reuters Staff
(Adds analysts, background, details)
LONDON, March 2 (Reuters) - El Salvador sovereign dollar bonds jumped as much as 1 cent, with many issues trading at their highest in a year on Tuesday after President Nayib Bukele declared a major victory in legislative elections.
Longer-dated issues chalked up the biggest gains, with the 2032 and the 2052 issues adding 1 cent on the dollar to trade around 102.7 cents and 107.5 cents respectively, Refinitiv data showed.
Bukele cited projections that his party and allies won more than two-thirds of seats in what would be the biggest majority in the history of the nation’s Congress.