Last checked at 10 Jan 2024 17:07
European shares end lower, with miners and travel stocks leading losses
Norway's Dec core inflation lower than expected
*Read more
- Home
- Share Prices
- AQSE Share Prices
- Euronext
- Stock Screeners
- Share Chat
- FX
- News & RNS
- Events
- Media
- Trading Brokers
- Finance Tools
- Members
Latest Share Chat
Barclays Share News (BARC)
BARC Share
Price
BARC Share
News
BARC Share
Chat2
BARC Share
Trades
BARC
Live RNS
BARC Share
Charts
BARC Level 2
Console
BARC Live
Share Price
BARC Broker
Ratings
BARC Directors
Deals
BARC Financial
Diary
BARC
Fundamentals
BARC Short
Positions
BARC
Media
Barclays Information
Share Price Information for Barclays (BARC)
Share Price is delayed by 15 minutes
Get Live Data
Share Price:
202.35
Bid:
202.15
Ask:
202.25
Change:
0.00 (0.00%)
Spread:
0.10 (0.049%)
Open:
0.00
High:
0.00
Low:
0.00
Prev. Close:
202.35
Last checked at -
Watchlists are a member only feature
Login to your account
Don't have an account? Click here to register.Agency Mortgage Bonds At 15-Year High As A Safe-Haven Buy
Wed, 23rd Jun 2010 22:19
By Prabha Natarajan Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Mortgage securities issued by government agencies--Fannie Mae (FNM), Freddie Mac (FRE) and Ginnie Mae--climbed to 15-year highs Wednesday as investors sought investments that are as safe as Treasurys but offer better returns. These bonds, which are effectively guaranteed by the U.S. government, now trade above their face value. Fannie Mae 30-year bonds with a 4.5% coupon rose to $103.406 for each $100 of face value. The 4% coupon bond rose as high as $101 before dropping back to $100.781. At those prices, these so-called agency bonds yield about 1.5% more on an annual basis than comparable Treasury securities, and many buyers consider them just as safe as Treasurys. "Mortgages have become a flight-to-quality instrument," said Mahesh Swaminathan, a strategist with Credit Suisse. The perception that these bonds are guaranteed by the U.S. government, which took control of the faltering agencies in the depths of the credit crisis, has been a lure to many foreign investors. Central banks and other overseas buyers increased their holdings of agency bonds by $10.5 billion in April, according to the latest Treasury data. That compares with typical monthly increases of $2 billion to $4 billion earlier in the year. Banks also have been big buyers of these bonds since they can borrow cheaply in the short term and invest in these higher-yielding long-term bonds with little fear that short-term rates will rise any time soon. This so-called carry trade got an extended lease on life after the Federal Reserve's policymaking Federal Open Market Committee said Wednesday that it planned to keep its benchmark short-term Fed Funds rate below 0.25% for an extended period, said Ajay Rajadhyaksha, head of fixed income research at Barclays Capital. Adding momentum to the price rise is a dearth of new bonds. Home sales are still depressed, and refinancings have tapered off as many homeowners eligible to reduce their mortgage payments have already done so. Historically, when mortgage bond prices climb this high--pushing down yields, which move inversely to price--homeowners would rush to refinance. That would serve to damp the market by removing the high-yielding loans in bonds, a phenomenon called prepayment risk. But rates have been so low for so long that fewer homeowners see a need to refinance. "Prepayment risk is at its lowest than in most times in the past, and that's why prices keep rising," Rajadyaksha said. There are skeptics in the market. Some portfolio managers said they are anxious about buying mortgage bonds at these sky-high prices. "Supply-demand imbalance is keeping valuation on MBS very tight, and unattractive to buyers like us," said Todd Abraham, portfolio manager at Federated Investors of Pittsburgh, with $5 billion in mortgage investments. -By Prabha Natarajan, Dow Jones Newswires; 212-416-2468; prabha.natarajan@dowjones.com (END) Dow Jones Newswires June 23, 2010 17:19 ET (21:19 GMT)
More News
10 Jan 2024 13:00
Global activist investors pressed companies to sell or spin in 2023 as M&A dropped off
NEW YORK, Jan 10(Reuters) - "Sell" or "split" was the favorite word for activist investors across the world last year when their demands for companies to pursue some form of mergers and acquisition-related activity hit a new record and appeared in roughly half of their 2023 campaigns even as M&A activity dropped off, according to new data from Barclays.
Read more9 Jan 2024 07:44
LONDON BRIEFING: B&M to declare special payout; strong start for Unite
(Alliance News) - Stocks in London are tipped for a solid start on Tuesday, following a strong performance on Wall Street and in Asian markets.
Read more5 Jan 2024 09:50
IN BRIEF: Prudential to buy back 4 million shares to offset awards
Prudential PLC - London-based, Asia-focused life and health insurer and asset manager - Contracts Barclays Capital Securities Ltd, part of Barclays PLC, to conduct a share buyback programme that will repurchase about 3.9 million shares at a maximum cost of GBP38 million. At the current market price, 3.9 million Prudential shares are worth GBP32.3 million. The buybacks are intended to offset the dilution that will be caused by the vesting of awards under Prudential's employee and agent share schemes.
Read more21 Dec 2023 12:59
Barclays extends lease on Canary Wharf headquarters until 2039
LONDON, Dec 21 (Reuters) - Barclays has signed an agreement with Canary Wharf Group (CWG) to extend the lease on its British headquarters in the financial district until 2039, CWG said on Thursday.
Read more20 Dec 2023 09:25
LONDON BROKER RATINGS: UBS cuts DS Smith; Kepler likes Genus
(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:
Read more20 Dec 2023 08:48
LONDON MARKET OPEN: Stocks feeling festive on UK, US rate cut hopes
(Alliance News) - Stock in London enjoyed a broad-based rally at Wednesday's open, as a surprise UK inflation print boosted risk sentiment, with investors pinning their hopes on UK and US interest rate cuts next year.
Read more19 Dec 2023 16:06
UK banks face 'step change' rule to reimburse defrauded customers
LONDON, Dec 19 (Reuters) - Britain's banks and other payment firms must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.
Read more19 Dec 2023 15:11
UK banks face 'step change' rule to reimburse defrauded customers
LONDON, Dec 19 (Reuters) - Britain's banks must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.
Read more15 Dec 2023 18:12
Britain's Metro Bank decides not to sell mortgage book
LONDON, Dec 15 (Reuters) - Britain's Metro Bank said on Friday it had abandoned its planned sale of a 3 billion pound ($3.8 billion) mortgage portfolio, citing market conditions.
Read more14 Dec 2023 12:00
Fnality completes 'world's first' blockchain payments at Bank of England
LONDON, Dec 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Thursday that shareholders Lloyds Banking Group, Santander and UBS had completed the "world's first" live transactions that digitally represent funds held at a central bank.
Read more14 Dec 2023 10:51
France's Credit Agricole to stop financing new fossil fuel projects
Vows to triple financing of renewable energy projects by 2030
*Read more12 Dec 2023 09:10
UK lenders face smaller impact from Basel rules than rivals, BoE says
LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.
Read more12 Dec 2023 07:16
BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules
LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.
Read more7 Dec 2023 16:55
Director dealings: Barclays chair invests, York Holdings settles LSEG call options
(Sharecast News) - Nigel Higgins, the group chairman of Barclays, was on the buying side of the ledger on Thursday.
Read more