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LAYOFF DAILY UPDATE
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RTI International Metals
Failed or Cancelled Sovereign Bond Auctions
Bonds caught between supply surge and deflation By David Oakley and Michael Mackenzie
November 13 2008 19:56 | Last updated: November 13 2008 19:56
For any government looking to raise money in the capital markets in the next few months, there was an ominous development in Germany this week.
A German 10-year bond auction failed – something more or less unheard of until this year – as cash-strapped banks and investors snubbed the government offering.
It is a clear sign of straitened times when a benchmark bond in one of the most liquid markets in the world cannot attract enough bids to reach its target amount... Copyright The Financial Times Limited 2008
SPAIN July 11, 08...Spain has suspended an auction of sovereign bonds as investors take fright over the country's property crash and accelerating slide into economic crisis.
The treasury pulled an expected sale of 15-year bonds after probing the market informally, saying it would wait until credit conditions began to calm down. "We are not facing financing problems. We placed a successful three-year note on Wednesday," said a spokesman
HUNGARY , which has been forced to turn to the International Monetary Fund to shore up its crisis-hit economy, also scrapped an auction for short-term government bills after only attracting Ft5bn ($22.5m) in a Ft40bn offering.
Analysts said AUSTRIA had dropped plans to launch a bond next week because investors wanted bigger premiums to offset the credit worries and fears over lending by its banks to eastern Europe. The Austrian Federal Financing Agency did not give a reason for the move.
Spain, another triple A rated country, and BELGIUM have cancelled bond offerings in the past month because of the turbulence, with investors demanding much higher interest rates than debt managers had bargained for.
While I have no links for them, INDIA, NZ, JAPAN, CZECH REPUBLIC and BRAZIL canceled auctions this month too, wonder when we will enter this group....
CORRECTED! Japanese investors sold a net
331.7 billion yen ($3.26 billion) of foreign bonds last week,
capital flows data released by Japan's Ministry of Finance showed
Greene County Jail -10
Advanced Energy Industries -330
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South Carolina Unemployment Hits 10.4%
Excel Polymers 3rd Round Of Layoffs -80
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Tween Brands Closing 30-40
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Workers Cut At Gap Distribution Center
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Layoff Rumors At Google
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