Express Business Filler #1

This week, we at Bourse review the performance of the local and international fixed income markets for the first half of 2019. While the local market has been fairly inactive, international bond investors have enjoyed a period of persistent returns thus far. What can investors expect in the second half of 2019? Let’s take a closer look.

Local interest rates stable, bond supply low The Trinidad and Tobago (TT) Treasury Yield curve remained virtually constant year-to-date (YTD), as a limited supply of TTD bonds and persistent excess liquidity maintained downward pressure on bond yields. The greatest movements were the One-Year Treasury yield and 15-Year Treasury yield from 2.75 per cent and 5.10 per cent in December 2018 to 2.90 per cent and 5.22 per cent in May 2019 respectively.

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Increases in food prices have been minimal under the People’s National Movement (PNM), with prices going down for certain items in contrast to the large increases under the Kamla Persad-Bissessar administration.

SAGICOR Financial Corporation is paying nothing to CLICO and British American Trinidad to acquire their tradition insurance portfolios, worth over $8 billion, as the regional insurance company is acquiring insurance liabilities that have a greater value that the total investment assets that are to be transferred to Sagicor.

CLICO has not made a current, formal offer to sell its Methanol Holdings International Ltd (MHIL) shares to the methanol producer’s minority shareholder, Consolidated Energy Ltd.

IT IS one of the most incentivised sectors, yet T&T’s agriculture industry isn’t attracting new farmers. Furthermore, food production has not increased. Last week, in delivering his 2020 budget, Finance Minister Colm Imbert said the Government would remove all taxes and duties on inputs for the industry.

The United States independent company, Apache, has drilled a wildcat on Suriname’s block 58, probing a prospect considered to be closely on trend with one of the 14 discoveries made by US major, ExxonMobil, in neighbouring Guyana.

WITH business booming in Guyana since its multiple oil discoveries, local energy sector service companies have wasted no time in setting up branches there. . “Companies offering taxi services, for instance, are booming,” says Javed Razack, a geophysicist, employed as a director of contracts and proposals with Ramps Logistics Ltd.