2019 Could be Best Year for Asia Bonds Since 2012, Returning Up to 10%
Lombard Odier Investment Managers expects Asia's dollar-denominated bond market to return 5-10% this year, after the massive sell-off in late 2018. The fund manager cites policy easing in the U.S. with interest rates expected to stay the same all year, and the...
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Asian Bonds Gain US$ 35.5 billion in Jan! Feb on Track to Follow Suit.
The new year began on a cheerful note with 87.7% of bonds in the BEV universe ending the month of January with a positive price return. This led to an uncrystallized mark-to-market gain of US$ 35.5 billion for US dollar denominated bonds in the BEV universe. Asian...
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U.A.E. Federal Bank to Issue Bonds for the First Time After Debt Law Change
Emirates Development Bank plans to sell US$750 million in bonds later this month following the U.A.E.'s implementation of a newly effective debt law. This is the first debt that the state-owned institution that provides financing to citizens and small and medium-sized...
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Russia Upgraded to Investment Grade by Moody’s
Global ratings agency Moody’s Investor Service has raised Russia’s long-term foreign currency ratings to "Baa3" from "Ba1", elevating the sovereign to investment grade status. The ratings outlook was moved to stable from positive. Moody's reported that policies the...
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Dallas Fed Chief Calls for No Further Rate Action Until Clearer Outlook
Federal Reserve Bank of Dallas President Robert Kaplan urged the Fed to “exercise patience and refrain from taking further action on the federal funds rate until the economic outlook becomes somewhat clearer”, in an essay he just released, titled “The Value of...
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Ecuador Bonds to Pay Highest Yield Since 2011
Ecuador’s Finance Ministry sold $1 billion in bonds due 2029 at a yield of 10.75%, the steepest yield the nation has offered to investors since the financial crisis, when government officials had previously ruled out selling at double-digit rates. Markets had not...
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Hsin Chong Defaults on US$150 Million Bond as it Files for Provisional Liquidation
Hsin Chong Group Holdings, the Hong Kong construction company that built Ocean Park and the former Kai Tak Airport, has defaulted on its $150 million 8.5% USD bonds due on 22 January. The builder filed for provisional liquidation just before announcing the bond...
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China Evergrande Sells Asia’s Biggest Offshore High-Yield Bond Since Start of 2019
China Evergrande Group sold $3 billion in dollar bonds on 23 January, the biggest offshore high-yield bond sale from Asia so far this year. Evergrande is China’s second-largest property developer by sales and is one of China’s most indebted developers. The company has...
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PG&E Bond Yields at Record Highs on Bankruptcy Plans
PG&E Corp, owner of the biggest US power utility according to the number of customers, saw nearly all of its roughly $18 billion of bonds trade sharply lower earlier in the week after the company announced it was preparing to file for Chapter 11 bankruptcy protection....
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