Politics

Malaysia's Messy Politics Can't Put Off Global Yield Hunters – BNN

Published

4 years ago

December 9, 2020

(Bloomberg) — November was a testy month in Malaysian politics but you wouldn’t know it by looking at bond inflows.

Overseas holdings of government securities rose to 198.4 billion ringgit ($49 billion) last month, the highest since October 2016, according to central bank data. The increase marked the seventh straight month of purchases and the binge occurred as the ringgit rallied 2% to its strongest level in almost a year.

Malaysia’s political drama reached fever pitch in November as some lawmakers mounted an attack to oust Prime Minister Muhyiddin Yassin and infighting threatened to split the ruling coalition. But the search for yield and signs of recovery in the local economy canceled out the noise.

“Ringgit bonds’ fundamentals are attractive considering the large onshore investor base, a well-managed pandemic situation which has in turn limited the extent of fiscal slippage in 2020, and the ample policy room the central bank still has at its disposal,” said Jennifer Kusuma, a senior rates strategist at Australia & New Zealand Banking Group Ltd. in Singapore. “Furthermore, the yield differential versus U.S. Treasuries has widened this year.”

Malaysia’s 10-year benchmark yield was at 2.76%, offering a 183-basis point premium over comparable U.S.Treasuries. The gap has widened from around 140 basis points at the start of the year.

Inflows are likely to persist if the optimism about the global vaccine rollout and a recovery in regional trade continue to support risk appetite. Even Fitch Ratings’ downgrade of Malaysia’s sovereign rating hasn’t dented the sentiment so far.

Still, if the political wrangling resurfaces, global funds may start to shift to other Asian markets. “This is an area investors will monitor closely,” ANZ’s Kusuma said.

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Politics

New Brunswick election candidate profile: Green Party Leader David Coon

Published

3 hours ago

September 19, 2024

Anne Joseph

FREDERICTON – A look at David Coon, leader of the Green Party of New Brunswick:

Born: Oct. 28, 1956.

Early years: Born in Toronto and raised in Montreal, he spent about three decades as an environmental advocate.

Education: A trained biologist, he graduated with a bachelor of science from McGill University in Montreal in 1978.

Family: He and his wife Janice Harvey have two daughters, Caroline and Laura.

Before politics: Worked as an environmental educator, organizer, activist and manager for 33 years, mainly with the Conservation Council of New Brunswick.

Politics: Joined the Green Party of Canada in May 2006 and was elected leader of the New Brunswick Green Party in September 2012. Won a seat in the legislature in 2014 — a first for the province’s Greens.

Quote: “It was despicable. He’s clearly decided to take the low road in this campaign, to adopt some Trump-lite fearmongering.” — David Coon on Sept. 12, 2024, reacting to Blaine Higgs’s claim that the federal government had decided to send 4,600 asylum seekers to New Brunswick.

This report by The Canadian Press was first published Sept. 19, 2024.

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Politics

New Brunswick election profile: Progressive Conservative Leader Blaine Higgs

Published

3 hours ago

September 19, 2024

Anne Joseph

FREDERICTON – A look at Blaine Higgs, leader of the Progressive Conservative Party of New Brunswick.

Born: March 1, 1954.

Early years: The son of a customs officer, he grew up in Forest City, N.B., near the Canada-U.S. border.

Education: Graduated from the University of New Brunswick with a degree in mechanical engineering in 1977.

Family: Married his high-school sweetheart, Marcia, and settled in Saint John, N.B., where they had four daughters: Lindsey, Laura, Sarah and Rachel.

Before politics: Hired by Irving Oil a week after he graduated from university and was eventually promoted to director of distribution. Worked for 33 years at the company.

Politics: Elected to the legislature in 2010 and later served as finance minister under former Progressive Conservative Premier David Alward. Elected Tory leader in 2016 and has been premier since 2018.

Quote: “I’ve always felt parents should play the main role in raising children. No one is denying gender diversity is real. But we need to figure out how to manage it.” — Blaine Higgs in a year-end interview in 2023, explaining changes to school policies about gender identity.

This report by The Canadian Press was first published Sept. 19, 2024.

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Politics

Climate, food security, Arctic among Canada’s intelligence priorities, Ottawa says

Published

3 hours ago

September 19, 2024

Anne Joseph

OTTAWA – The pressing issues of climate change and food security join more familiar ones like violent extremism and espionage on a new list of Canada’s intelligence priorities.

The federal government says publishing the list of priorities for the first time is an important step toward greater transparency.

The government revises the priorities every two years, based on recommendations from the national security adviser and the intelligence community.

Once the priorities are reviewed and approved by the federal cabinet, key ministers issue directives to federal agencies that produce intelligence.

Among the priorities are the security of global health, food, water and biodiversity, as well as the issues of climate change and global sustainability.

The new list also includes foreign interference and malign influence, cyberthreats, infrastructure security, Arctic sovereignty, border integrity and transnational organized crime.

This report by The Canadian Press was first published Sept. 19, 2024.

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