Posts Tagged ‘Malta Government Stocks’

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Malta Government Stocks - New Issues

Friday, July 22nd, 2016

On 22 July, the Treasury announced the issue of 2 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €60 million. The 2 new fixed rate stocks are: 1.50% MGS 2022 (IV) FI at a price to be determined on Thursday 28 […]

- The Brexit effect

Thursday, June 30th, 2016

The UK’s referendum on its membership within the EU had been dominating sentiment across international financial markets for several months. Volatility intensified over the past two weeks. As the polls indicated that the ‘Leave’ campaign was ahead during the second week of June, equities across the main stockmarkets around the world declined, bonds of ‘safe-haven’ […]

- A debate on the local capital market

Thursday, June 9th, 2016

Last week, I attended the half-day Capital Markets Conference organized by Camilleri Preziosi Advocates with the support of the Malta Stock Exchange. One of the key note speeches was delivered by the former Chairman of Bank of Valletta plc Mr Roderick Chalmers who was always regarded as being a fantastic speaker. I am sure many […]

- Understanding movements in MGS prices

Thursday, April 21st, 2016

Almost a year ago, on 14 May 2015, I had published an article entitled “Why have MGS prices suddenly dropped?”, to explain to retail investors the rationale for the sharp drop in Malta Government Stock (MGS) prices between the first half of April 2015 and mid-May 2015. During that 3 to 4-week period, medium and […]

Malta Government Stocks - Results of MGS Auction

Wednesday, March 30th, 2016

On 30 March, the Treasury announced that it received 66 bids from institutional investors for the recently offered two fixed-rate Malta Government Stocks for a value totaling €151.3 million (nominal) compared to the €80 million on offer. The statistics published by the Treasury indicate that €55 million were allotted in the 1.50% MGS 2022 (IV) […]

- The implications of negative interest rates

Thursday, March 17th, 2016

Last week’s main event across international financial markets was the monetary policy meeting of the European Central Bank (ECB) held on Thursday. Following the continued evidence of the weak economic data and persistently low inflation, the ECB reduced its deposit rate from -0.3% to -0.4% as was widely anticipated. Moreover, contrary to popular expectations, the […]

Malta Government Stocks - Results of MGS Issue

Friday, March 4th, 2016

On 3 March, the Treasury announced that it received applications from the general public for the two new Malta Government Stocks for a value slightly exceeding €200 million (nominal) and in fact it will be exercising its over-allotment option and increasing the aggregate amount to €200 million. The Treasury stated that the 33 applications for […]

- The search for yield continues

Thursday, March 3rd, 2016

Last Thursday afternoon the Treasury of Malta issued a press release informing market practitioners that subscriptions from the General Public for the two Malta Government Stock (MGS) issues exceeded €200 million and therefore the tendering process for institutional investors was being cancelled. This may have surprised many market followers especially since in the last MGS […]

Malta Government Stocks - Pricing of New Stocks

Thursday, February 18th, 2016

Further to the announcement on 12 February with respect to the issue of the new Malta Government Stocks, the Treasury today established the prices of the 2 new MGS’s as follows: (i) 1.5% MGS 2022 (IV) FI at 105.00% for every €100 nominal giving a yield to maturity of 0.696% per annum; (ii) 2.5% MGS 2036 […]

- The Rizzo Farrugia Malta Corporate Bond Index

Thursday, February 18th, 2016

In December 2010, we had launched the ‘Rizzo Farrugia MGS Index’ to assist market practitioners and investors to follow price trends across Malta Government Stocks. Given the lack of a corporate bond index and the increasing popularity of the local corporate bond market, we are now launching the ‘Rizzo Farrugia Malta Corporate Bond Index’. While […]

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