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Abstract: The paper forecasts conditional correlations between three classes of international financial assets, namely stock, bond and foreign exchange. Two countries are considered, namely Australia and New Zealand. Forecasting will be conducted using three multivariate GARCH models, namely the CCC model [T. Bollerslev, Modelling the coherence in short-run nominal exchange rates: a multivariate generalized ARCH model, Rev. Econ. Stat. 72 (1990) 498–505], VARMA-GARCH model [S. Ling, M. McAleer, Asymptotic theory for a vector ARMA-GARCH model, Econometric Theory 19 (2003) 280–310], and VARMA-AGARCH model [M. McAleer, S. Hoti, F. Chan, Structure and asymptotic theory for multivariate asymmetric volatility, Econometric Rev., in press]. A rolling window technique is used to forecast 1-day ahead conditional correlations. To evaluate the impact of model specification on conditional correlations forecasts, this paper calculates and compares the correlations between conditional correlations forecasts resulted from the three models. The paper finds the evidence of volatility spillovers and asymmetric effect of negative and positive shock on the conditional variance in most pairs of series. However, it suggests that incorporating volatility spillovers and asymmetric do not contribute to better conditional correlations forecasts. [Copyright &y& Elsevier]

The article reports on the 100 million Swiss francs (Sfr) bond offer of Auckland Council of Auckland, New Zealand (NZ), with a maturity date of February 7, 2024. It informs that Auckland Council is the biggest borrower in NZ outside of the central government and NZ banks. The article also mentions that the deal went to 24 investors in Switzerland and the market appraisal that it is always good to see new names in the market.

This article reports on the launch of a consultation paper by the Reserve Bank of New Zealand proposing the introduction of covered bond legislation in 2010.

Presents information on international bonds issued by General Electric Capital Corp. in New Zealand dollar denomination in June 2005. Rating of the bond; Maturity; Issue price.

The article reports on the increased issuance of sovereign, supranational and agency (SSA) notes driven by the positive, normalized level of swap spreads and the improving budgetary conditions in New Zealand and Sweden. The national debt office of the Swedish government has reduced its bond issuance plans due to decreased borrowing. The respective bonds issued by KfW and the Internatioal Bank of Reconstruction and Development were driven by investor demands and is selling well in the market.

A global bond rally has spread to Asia as investors anticipate Federal Reserve interest-rate cuts. Australian and New Zealand debt rallied after US Treasury yields fell, and German 10-year yields dropped to a new low. The gains in bonds were driven by strong demand for Treasury notes, indicating that investors want to secure attractive yields before expected Fed cuts. In the equity market, Japanese shares fell while Australian and South Korean shares rose. US stock futures were little changed, and concerns have been raised about the market potentially reaching overbought levels and overly dovish bets for Fed cuts. Traders are increasingly betting on Fed rate cuts as early as March. [Extracted from the article]

Stocks and bonds in Asia are rallying as investors anticipate Federal Reserve interest-rate cuts next year. Australian and New Zealand debt saw gains after US Treasury yields fell, and German yields dropped to a new low. Asian equities are also climbing, with Chinese stocks experiencing their best day in four months. The gains in bonds were supported by strong demand for Treasury notes, indicating investors' desire to lock in attractive yields before expected Fed cuts. Traders have increased bets on Fed rate cuts as early as March. [Extracted from the article]

A global bond rally has spread to Asia as investors anticipate Federal Reserve interest rate cuts. Australian and New Zealand bonds have advanced, with yields falling to their lowest levels since July. The gains were driven by strong demand for Treasury notes, indicating that investors want to secure attractive yields before expected rate cuts. Currency markets have been relatively stable, while Asian equity markets have seen muted movements. US futures have also remained steady, with concerns arising about overbought levels and overly dovish bets for Fed cuts. Traders are increasingly betting on rate cuts as early as March. [Extracted from the article]

The article presents information on New Zealand dollar-linked bonds issued on November 14, 2005. It includes International Finance Corp. and Eksportfinans ASA.

The article presents information on New Zealand dollar-denominated bonds issued by two companies in February 2006. It includes Bank of Nova Scotia and Export Development Canada.

Presents information on the New Zealand dollar denominated bond issued by Inter-American Development Bank in October 2005. Advantages of the swap market in the country; Influence of swap spreads on the price of the deal; Factor that makes the deal attractive to borrowers.

The article reports on the increase in Kauri bond issuance in March 2013 to take advantage of investors' demand for high yields. Australia and New Zealand Banking Group or ANZ priced Kauri bonds of Rentenbank at 44 basis points over mid-swaps. Increased interest in Kauri market was caused by expectations of investors on Australian dollars. Kommunalbanken Norway (KBN) also plans to access the Kauri market after selling 150 million New Zealand dollars in April 2012.

The article reports on the Kauri bond issued by the World Bank in February 2012. Australia and New Zealand Banking Group and Detusche Bank served as lead managers in the deal, which received strong orders from domestic banks. The size of the deal has been increased by lead managers to 125 million New Zealand dollars. Information on the price structure of the deal is provided. Meanwhile, a roadshow was set by the Republic of Austria for a potential Swiss franc issue.

The article focuses on the bond deal issued by the Inter-American Development Bank in New Zealand dollars. The maturity of the deal is on June 22, 2016. The value of the bond transaction is NZ$200 million.

The article focuses on the New Zealand dollar-denominated bonds issued by Nordic Investment Bank on February 1, 2006. The maturity date of the bond is on February 23, 2009. Bonds were priced at 101.095. UBS is the lead manger for the deal. The strength of the currency affected the decision of larger investors to venture in the market.

The article focuses on the New Zealand dollar-denominated bonds issued by Landwirtschaftliche Rentenbank in January 2006. The maturity date of the bond is on December 27, 2007. Bonds were priced at 101.10. RBC CM is the lead manager for the deal. The bond issues have attracted institutional investors.

The article presents information on bond issues in New Zealand dollars from Rabobank Nederland. The date of maturity of the bonds will be on January 18, 2011. Bond issues were priced at 100.865. European and Asian investors have expressed their institutional and retail interest in New Zealand dollar deals.

Presents information on New Zealand dollar bonds issued by General Electric Capital Corp. in the European bond market. Purpose of the bonds; Details of its market appraisal.

Provides information on a bond issue involving Landwirtschaftliche Rentenbank in New Zealand dollars as of November 2003. Rating; Amount; Lead manager.

The article focuses on Peter Schiff and investment in foreign bonds.Two big things motivate bond investors: capital preservation and yield. But with yields on ten-year Treasurys stuck near a skimpy 4.2% and credit spreads tight compared with historic norms, this has not been a happy time for fixed incomes. For Peter Schiff, president of Euro Pacific Capital, the solution is foreign bonds. The overseas bonds' advantage lies in the weak dollar, which magnifies your return in America. And since Schiff sees the dollar continuing to wilt, foreign debt is more than a wise short-term strategy. The trouble with getting in and out is that transaction costs are high. You can't obtain foreign bonds through an online brokerage, for instance. The only bonds offered by foreign issuers that Fidelity's brokerage arm will sell you are Yankee bonds--dollar-denominated debt of foreign issuers, which will give you the feel of diversity but little else. Straight foreign bonds aren't carried in inventory by big retail firms like A.G. Edwards, and they won't get them for you. While a few boutique outfits like Schiff's will sell you Singapore government bonds, expect to pay at least a 2% markup for the privilege. The best performer is the Loomis Sayles Global Bond Fund with a five-year average return of 9.8%; its 1.15% in annual expenses is better than the 1.4% average for international bond funds. Runner-up is the American Century International Bond Fund (five-year returns: 8.2%), whose largest holdings include debt from German mortgage banks and sovereign debt from France and Japan. Morningstar analyst Lynn Russell cautions that betting on currencies is market timing by another name. Currencies "bring a lot of volatility to the table," she says. The dollar could come back without warning, so don't take your eye off the market.

Reports on Kiwi Co-operative Dairies Ltd.'s launch of a United States dollar-denominated bond issue on January 22, 1999. Rating; Amount; Maturity date; Issue price; Bookrunners' comment; Market appraisal.

The article reports on the Swiss franc bond deal launched by the Auckland Council in New Zealand. Auckland Council treasurer Mark Butcher explains that the increasing difficulty in domestic funding encouraged the public authority to consider the Swiss market. It discusses why Auckland Council has decided not to opt for the U.S. dollar and euro markets. The involvement of BNP Paribas in the said bond deal is also mentioned.

The article reports on the sale of a covered bond issued by Australasian financial institution Bank of New Zealand (BNZ) in the euro market in November 2010. The seven year deal offered by the bank costs around one billion euros. It states that the deal helped underscore the increasingly global reach of the covered bond. According to the author, the bank is the first Australasian firm to issue covered bonds in the market.

The article reports on the first Kauri bond over one billion New Zealand dollars created by the World Bank in 2010. The Kauri bond is the largest outstanding New Zealand dollar bond other than government bonds, according to the author. Lead financial officer Andrea Dore highlights the importance of getting the transaction to one billion New Zealand dollars as a landmark for the New Zealand market. A syndicate banker describes the one billion New Zealand dollar bond as more credible and more liquid.

Presents updates on bonds in the financial services industry as of October 28, 2005. Launch of a securitization of residential mortgages by Macquarie Securitization from its Puma Masterfund P-11 trust; Issuance of a securitization of residential mortgages by Liberty Financial in New Zealand; Introduction of white-label non-conforming mortgages by specialist mortgage lender Mobius Financial Services.

Reports on the reopening of the 10-year Kiwi sector of the European Investment Bank (EIB) in New Zealand dollars on August 23, 2004 with an offering from Royal Bank of Canada. Basis of the deal; Supply competition in the EIB deal; Doubts of bankers on the effectiveness of the deal.

Presents updates on capital markets in Australia and New Zealand as of December 12, 2003. Price of bonds issued by Lane Cove Tunnel Co.; Result of the launching of National Australia Bank's bond; Value of subordinated bond issued by Westpac Banking Corp.