Debt

Spain's €3.4bn sale of long-term debt has dampened fears the eurozone country could be next in line to need a bailout.

Thomas Kwan has joined Baring Asset Management's emerging markets team as head of Asian debt.

Punch Taverns' bondholders are seeking to halt the ailing firm from selling pubs in its estate and instead arrange a debt for equity swap.

European leaders have agreed on a revised bailout package, creating a permanent fund to resolve the debt crisis in the eurozone.

Portugal could need a bailout 'imminently' after opposition parties rejected the government's austerity policies, leading Prime Minister Jose Socrates to resign, according to reports.

Greek government bonds yielding 15% are now ‘tempting' as the chances of the country being forced into a restructure over the next couple of years has been reduced, says Chris Iggo at Axa Investment Managers.

Skandia Investment Group (SIG) has launched a local currency emerging market debt fund in order to benefit from the long-term prospects for the asset class.

The debt position of Greece, officially Europe's most indebted country, is set to be to worse than previously expected this year.

FIXED INCOME

Investec's Emerging Markets Debt fund, the first daily-dealing UK onshore vehicle investing in local currency EMD, has broken through £1bn of assets after seeing substantial flows over the past year.