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By: Mark Bvsk

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Tuesday, 29-Jul-2014 16:43 Email | Share | Bookmark
Goldman Fund Manager Sees Aussie Yield Grab: Australia Credit -

The comparable rates were 2.49 percent in the U.S., 1.15 percent in Germany and 0.525 percent in Japan. Standard & Poors today affirmed its AAA rating for Australia with a stable outlook, citing strong institutional settings, the nations resilient economy, and a high degree of monetary and fiscal policy flexibility. An auction of February 2022 inflation-linked bonds received offers for 6.62 times the A$100 million on sale, the best bid-to-cover ratio in a year for indexed debt, according to data from the Australian Office of Financial Management. The Australian dollar traded at 93.96 U.S. cents and has climbed 5.4 percent this year, the biggest gain among Group of 10 currency nations. Late last year, forecasters said it would sink to 88 cents by June 30. Investors Comfortable The Aussie has advanced 7.8 percent to A$1.42997 per euro this year and 2 percent to 95.73 yen, also beating G-10 currency peers. Australias 10-year yield is quite attractive by global standards, said Moffitt. Most investors globally are looking, resource their investment pattern is one thats motivated by momentum and so while the currencys stable or rising they feel comfortable owning it. Investors arent just interested in sovereign bonds, they are looking at Aussie-dollar exposure through corporate credit, hybrids and high-yield stocks, he said. <br>More:

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