by Amruth Sundarkumar | Jun 1, 2023 | High Yield Bonds, Insights, Investment Grade Bonds
The month of May saw a reversal in fortunes for bond markets after a cheerful first quarter and its extended run in April. 79% of dollar bonds in our universe ended May in the red (ex-coupon) as compared to 81% that ended April in the green. Of this, Investment Grade...
by Amruth Sundarkumar | Jun 1, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields were marginally lower by 2-3bp across the curve. Fed Governor and Vice-Chair Philip Jefferson hinted that the Fed may skip a rate hike at the June meeting and his remarks were also echoed by Philadelphia Fed President Patrick Harker (scroll below to...
by Amruth Sundarkumar | Jun 1, 2023 | High Yield Bonds, India
Vedanta Resources has repaid all its bonds and loans due in May and June. it redeemed its $500m 7.125% dollar bonds that matured yesterday. Besides, on May 23, it also repaid its $800m of loan facilities taken in April to StanChart. Separately, Vedanta is also said to...
by Amruth Sundarkumar | Jun 1, 2023 | High Yield Bonds, India
Tata Motors launched a tender offer to buy back a maximum of $125mn of its outstanding $250mn 5.75% 2024s at a price of 100.5. The notes are currently trading at 99.25, yielding 6.31% and thus the buyback price is at a slight premium to its market price. It said that...
by Amruth Sundarkumar | Jun 1, 2023 | Sovereign Bonds, Sovereigns
Dollar and Euro denominated bonds of the Central Bank of Tunisia (BCT) rallied by 2-4% across the curve. This comes after the World Bank and the Tunisian government agreed on a new partnership framework which will go up to the multilateral lender’s board for...
