Posts Tagged ‘Malta Government Stocks’

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- Central Bank commences reverse auctions in MGS

Thursday, September 8th, 2016

Last Monday, the Central Bank of Malta officially announced the start of reverse auctions in Malta Government Stocks as part of the Quantitative Easing (QE) or the Public Sector Purchase Programme (PSPP) being conducted by the European Central Bank. It is worth recalling that the QE programme started in March 2015. This is a means […]

Malta Government Stocks - Listing & Trading of New MGS

Monday, August 22nd, 2016

On 22 August, the Malta Stock Exchange announced the listing of the €153,669,800 nominal 2.4% MGS 2041 (I) which was recently offered on the primary market. Trading is expected to commence as from tomorrow Tuesday 23 August 2016.

- The summer bond market rally

Thursday, August 18th, 2016

The historic consultative Brexit referendum on 23 June had wide implications across various asset classes, namely equities, currencies and also bonds. The immediate reaction across international financial markets as the surprising result was announced in the early hours of 24 June was well documented across the local and international media. Global equity markets experienced a […]

Malta Government Stocks - Results of MGS Issue

Thursday, August 11th, 2016

On 11 August, the Treasury announced that it received applications from the general public for the two new Malta Government Stocks for a value of nearly €186.0 million (nominal). In fact, it will be exercising its over-allotment option and increasing the aggregate amount to €160.0 million. The Treasury stated that the 14 applications for the […]

- Will bank deposit interest rates go negative?

Thursday, August 11th, 2016

Last week, the Bank of England (BOE) reduced the bank base rate in the UK for the first time since March 2009 and said that it expects to cut it further towards zero in the months ahead. In response to the June vote in the Brexit referendum, the BOE cut interest rates by 25 basis […]

Malta Government Stocks - Pricing of New Stocks

Thursday, July 28th, 2016

Further to the announcement dated 22 July 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 (August 2016) at 107.25% for every €100 nominal giving a yield to maturity of 0.266% per annum; (ii) […]

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 […]


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