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Market round-up: US bond volatility lowest since August 2014

LiveMint logoLiveMint 11-05-2017 Livemint

A measure of volatility in the $14 trillion treasuries market signals that bond traders are feeling comfortable after the French presidential election and the Federal Reserve’s meeting last week. The Merrill Lynch Option Volatility Estimate Index, which is derived from over-the-counter options on treasuries maturing in 2 to 30 years, dropped to 55.2203 on Tuesday, the lowest level since August 2014. That’s unlikely to change much after Donald Trump’s abrupt firing of FBI director James Comey. Bloomberg

April records highest PE/VC monthly exits

In April, private equity (PE)/venture capitalists (VCs) recorded a billion dollars in exits, crossing the $1 billion-mark for the second time in the past one year, said a recent EY report. This is a 270% increase over April 2016 and 158% over March 2017 in terms of volume and, 117% and 41% in terms of value, respectively, it added. With 31 deals, April 2017 recorded the highest monthly exits tally ever. Exits in 2017 now total $3 billion, 46% of the aggregate value recorded in 2016. Among sectors, cement and building products emerged at the top with $307 million across three deals followed by financial services with $196 million across nine deals. As far as the mode of exit is concerned, open market operations was the most preferred, accounting for 65% of exits by value and 58% by volume, said EY.

Cybersecurity threats may hurt fintech in India

Fintech innovations are likely to drive financial inclusion in India. Collaborations between fintech and financial services firms would enable mass adoption of technology, thus increasing reach of organized financial services, said a CII-PwC report. However, maintaining security and privacy of data is one of the key concerns that may hinder acceptance of fintech firms by both regulators and customers. Findings of the report show that most peer-to-peer lending firms use several non-conventional and personal data sources, including social media information, for their credit assessment. Traditional companies have highlighted this as one of the concerns around partnering with these firms, with more than 55% incumbents identifying IT security as one of the challenges. Indian organizations have detected a sharp increase from an average of 2,895 incidents a year to 6,284 incidents in 2015-16, according to PwC’s Cybercrime Survey.

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