German bonds decline on China and India PMI data

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Source: Bloomberg
German sovereign bonds declined on the first trading day in 2012 as India and China reported an increase in Purchasing Manager's Index boosting optimism world economy may stabilize. The borrowing costs on German 10-year notes added 3 basis points or 0.03% reaching 1.86% on Tuesday morning. Yields for 2-year bonds gained three basis points attaining 0.18%.
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Mon, 02 Jan 2012 13:47:45 GMT

Hyundai and Kia expect lower pace of sales growth

Hyundai and Kia Motors announced they expect to see essentially slower growth in sales in 2012 than in 2011 amid the global economic slowdown. European recession and increased competition from Japanese car producers are likely to limit expansion, said Chung Mong-koo, Hyundai Motor's chairman. Companies predict sales in 2012 to increase by 6%, approaching 7 million cars as compared to 15% jump in 2011.

Mon, 02 Jan 2012 14:44:28 GMT

Turkish Lira recovers from record lows

Turkey's Lira recovered and advanced for a third straight day after it experienced a record low depreciation of 1.9224 per US Dollar last week. Lira ascended 0.4% to 1.8833 per US Dollar. Turkey's currency weakened by 17.7% last year and faced the largest depreciation among emerging economies, trailed by Bloomberg. Country's central bank intervened and sold dollars extensively on December 30.

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