In more negative news for China's developers, the National Development and Reform Commission ("NDRC") is considering a ban on the sale of dollar bonds with tenors of less than 1 year.  Over the past 2 years, the country's real estate companies have sold about $10...

The creditworthiness of China’s developers has been called into question as credit channels tighten amidst an avalanche of attempts to borrow in order to bolster land banks.  The Bloomberg Default risk model, which tracks metrics including share performance,...

The Federal Reserve voted on 13 June to increase interest rates - the benchmark federal funds rate - by 25 bps to a range of 1.75% to 2%.  This move was widely expected by the markets, despite President Trump's disagreement with other global leaders on trade tariffs...

The Azalea Group, a subsidiary of Singapore's Temasek Holdings specialising in private equity investments, has launched Astrea IV, a private equity bond in a structure including a retail tranche that is believed to have never been done before.  This first PE-backed...

Hyflux Ltd. started a court-supervised debt reorganisation process after seeking court protection on May 22 to block creditors from filing winding-up petitions or seizing pledged assets while debt restructuring negotiations take place. The Singapore-based water...

China Vanke Co. ("Vanke") priced a 5-year U.S. dollar floating rate bond at the end of last week amid volatile markets characterised by rising funding costs resulting from a deluge of supply from the China real estate sector.  Chinese developers have been flooding the...

Following the flood of better-than-expected economic data out of the U.S. this week, yields on both short-term and the longer tenor benchmark Treasury notes have risen to new multiyear highs.  2-year yields reached 2.598%, its highest since August 2008, and 5-years...

Following a surprise victory for Malaysia's opposition Pakatan Harapan, which displaced a government that had held power for more than 60 years - since the country declared independence in 1957 - its U.S. dollar bonds tumbled shortly after the markets opened the next...

Asian high-yield bonds suffered a sell-off in line with global fixed income when the 10-year U.S. Treasury yield hit a 4-year high of 3% in late April.   Spreads for U.S. dollar Asia (ex-Japan) high-yield bonds, as captured by the Bloomberg Barclays index, widened by...