Ovetii Comment after Taiwan's Bonds Drop for a Second Consecutive Day

Added: (Thu Jan 03 2008)

Pressbox (Press Release) - Ovetii recently noted that Taiwan's 10-year government bonds fell for a second day as gains in the island's stock market reduced demand for debt.

According to sources close to the European financial advisory firm, Ovetii showed interest as yields on 10-year notes in Taiwan climbed to the highest recently as the Taiex share index rose as much as 1 percent after China reported 11.5 percent growth in third-quarter gross domestic product. The mainland is Taiwan's biggest export market.

Ovetii’s senior analyst apparently commented that the mood in bonds was largely affected by the strength in stocks, adding that traders don't plan to hold debt overnight.

Ovetii spokespersons have yet to offer an official view on the reports.