• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Dow Jones Newswires First to Report on Australian State Bonds

Posted on: Thursday, 14 May 2009, 08:00 CDT

- New South Wales Government Bond Prices Jumped After Dow Jones Released the News -

NEW YORK, May 14 /PRNewswire/ -- On May 1, 2009, Dow Jones Newswires was far ahead of its competition when it released news that Australia's biggest state, New South Wales, will use a federal government guarantee for its own debt. Dow Jones reported confirmation from state Treasurer Eric Roozendaal that the federal government is guaranteeing the state's debt for both existing and new bonds.

Since Dow Jones's report, the yield spread of the New South Wales Treasury Corporation's 2017 bond over the federal government bond narrowed 15 basis points, and has remained lower -- even though Roozendaal also said the New South Wales budget deficit would be much deeper than previously forecast. Bloomberg reported four hours later on a statement by the state government's funding arm, confirming the Dow Jones report on the guarantee plan. Thomson Reuters was nearly four and a half hours behind the Dow Jones report.

More than 435,000 financial professionals in 66 countries turn to Dow Jones for breaking news, commentary and analysis, including market moving corporate, economic, market, financial and political news. Reporting from nearly 90 bureaus across the globe, Dow Jones publishes up to 12,000 news items each day, in 11 languages, covering all asset classes. Dow Jones' products help its customers build relationships, create market opportunities and enhance trust in their services.

For more information about Dow Jones Newswires, visit www.dowjonesnewswires.com or to learn more about the Dow Jones Enterprise Media Group, visit www.solutions.dowjones.com.

ABOUT DOW JONES

Dow Jones & Company (www.dowjones.com) is a News Corporation company (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV; www.newscorp.com). Dow Jones is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Dow Jones Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones owns 50% of SmartMoney and 33% of STOXX Ltd. and provides news content to radio stations in the U.S.

SOURCE Dow Jones & Company

Source: PR Newswire

More News in this Category