by Amruth Sundarkumar | May 29, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields were mixed, with the 2Y and 5Y up 3-4bp while back-end yields were 1-3bp lower. US President Joe Biden and House Speaker Kevin McCarthy have reached a tentative deal to raise the debt limit for two years and avert a US debt default. Biden and...
by Amruth Sundarkumar | May 29, 2023 | High Yield Bonds, Interest Rate Trends, Investment Grade Bonds
With a massive change in market expectations of a rate hike amid continued growth and sticky inflation, treasury yields have soared. The 2Y yield was up by over 26bp last week and almost 53bp higher MTD. 10Y yields were up 10bp last week with the MTD rise at 37bp. US...
by Amruth Sundarkumar | May 29, 2023 | Sovereign Bonds, Sovereigns
Turkey’s second round run-off elections concluded with Erdogan retaining his presidency by winning another 5Y term with more than 52% of the votes. Erdogan defeated his opposition challenger Kemal Kilicdaroglu who promised a return to orthodox, market-friendly...
by Amruth Sundarkumar | May 29, 2023 | China, Distressed / Defaulted Bonds
R&F Properties is said to be trying to capitalize on the positive sentiment in overseas markets where some of its projects are located. The developer is marketing its projects in London, Australia, Malaysia and Cambodia in an effort to take advantage of buoyant...
by Amruth Sundarkumar | May 29, 2023 | China, High Yield Bonds
Sino-Ocean has launched a consent solicitation to extend the maturity and amend certain terms of its 6.25% dollar bonds due June 2023. The distressed developer has asked bondholders to agree to extend the maturity to 22 June 2029 from the current 22 June 2023. Also,...
