The researchers found that the stodgy pension funds, which tend to invest pretty heavily in bonds, lagged behind the benchmark by about a percentage point.
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The benchmark lending rate was reduced by 0.25 percentage point late Thursday to 6.31% and the benchmark deposit rate to 3.25%, the first cut in borrowing costs since December 2008.
As expected, the Tuesday meeting delivered another 25 basis-point increase in the benchmark interest rate, to 4.25%, but the language of the accompanying statement contained both hawkish and dovish signals.
In Australia, the Reserve Bank of Australia surprised investors by lowering its benchmark interest rate by 0.25 percentage point to a record low of 2.75%.
The outlook for global growth also got a boost after the European Central bank cuts its benchmark interest rate a quarter of a percentage point to 0.5 percent.
The London stockmarket's benchmark index, the FTSE 100, at one point dropped more than 2.2% before recovering during the afternoon.
Few were surprised on Thursday July 3rd when the European Central Bank raised its benchmark interest rate by a quarter of a percentage point, to 4.25%.
In South Korea the Kospi fell 2.2% to 1785.39, its lowest close since early June, after the Bank of Korea unexpectedly cut its benchmark interest rate by a quarter of a percentage point to 3%.
Brazil is now seeing a growing inflation problem that can only be controlled by higher interest rates, proving, once and for all, that the level of the benchmark Selic rate has not been politicized to the point of immobility, says Tony Volpon, head of emerging markets Americas at Nomura Securities in New York.
Nomura economist Tony Volpon expects a 50 basis point increase to 12.25% for the benchmark interest rate.
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At European stocks markets close, the yield on the government's benchmark 10-year bond was down 0. 16 percentage point at 5.86%, according to Tradeweb.
This half-build system achieved the world's best LINPACK(2) benchmark performance of 8.162 petaflops (quadrillion floating-point operations per second), to place it at the head of the TOP500 list.
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Gazprom shares--or at least 49% of them--are about to become free-floating, at which point they will suddenly jumped from nil in the benchmark Morgan Stanley Emerging Market Index to 10% of the weighting--the largest single component, likely to edge out even powerhouse Korean electronics manufacturer Samsung .
India's central bank cut its benchmark interest rate for the first time in three years, by half a percentage point to 8%.
And Apple sold floating-rate bonds that mature in three and five years at rates of 0.05 and 0.25 percentage point over the three-month London interbank offered rate, an industry benchmark.
The fund gained 1.32% Monday, outperforming its benchmark, the Lehman Brothers U.S. Aggregate Index, by 0.51 percentage point, according to Chicago investment-research firm Morningstar Inc.
And we should point out that not holding Apple in the Russell 3000 Value index had cost that benchmark 349 basis points of performance versus the Russell 3000 Growth index.
On the market front, yields on Italian benchmark 10-year sovereign bonds hit an all-time high of 6.68%, at one point registering a 490 basis point spread over German bunds.
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