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Search resuls for: "Tommy Wilkes Dhara Ranasinghe"


2 mentions found


☆ UK corporate borrowing costs soar as mini-budget fallout spreads
  + stars: | 2022-09-28 | by ( Tommy Wilkes Dhara Ranasinghe | Tommy Wilkes | Dhara Ranasinghe | ) www.reuters.com   time to read: +3 min
REUTERS/Dado Ruvic/IllustrationLONDON, Sept 28 (Reuters) - Borrowing costs for UK firms are soaring, with sterling corporate bond prices headed for their biggest monthly fall since the 1990s as fallout from the British government's "mini-Budget" grows. That, according to Vanguard credit portfolio manager Sarang Kulkarni, in turn helped ease conditions slightly in the investment grade bond market. Yields and bond prices move inversely. The sterling corporate bond market, much smaller and less liquid than the equivalent euro or U.S. dollar markets, is driven largely by moves in UK gilts, which have slid in value in recent days. He said that liquidity in the corporate sterling market - not great at the best of times - was looking "almost non-existent" right now.
☆ Analysis: Pummelled pound faces long road back as investor confidence shredded
  + stars: | 2022-09-26 | by ( Tommy Wilkes Dhara Ranasinghe | Tommy Wilkes | Dhara Ranasinghe | ) www.reuters.com   time to read: +5 min
An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England in London, in this March 25, 2008 file photograph. Yet the rapid rise in yields investors now receive for owning UK bonds hasn't helped sterling much. Pound slumps and UK borrowing costs surgePredicting the short-term direction of currencies is notoriously hard. Against the euro the pound is only at two-year lows, although it is down 3% since Friday. "People will look at the UK and think that that's not a market that is stable," said Payne at Janus Henderson.
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