E-House Launches $ Bond; CS $ AT1 Priced at 4.5%; Philippines/Brazil Raise $2.75/2.5bn via Bonds; Agricole Prices Its Tightest EUR Bond
S&P recovered losses early on to end 0.2% higher while Nasdaq closed flat. On the data front, the US ADP report showed a pick-up of 307k private sector jobs last month vs. expectations of 410k. US 10Y Treasury yields were up 2bp. US House Majority Leader Steny...
NWD, Huaneng Launch $ Bonds; HKAA’s $1.5bn Perps 10x Covered; CS Upgraded to Baa1; Vedanta’s $ Bonds Inch Up
S&P and Nasdaq closed 1.1% and 1.3% higher with DAX and CAC also higher by 0.7% and 1.1%. On the data front, China’s Caixin/Markit Manufacturing PMI surprised at 54.9 from October’s 53.6 while both the US and Germany’s ISM and PMI Manufacturing showed resilience...
HK Airport, Kaisa, Fosun, Fantasia Launch $ Bonds; 80% of $ Bonds Traded Up in Nov; Sri Lanka’s Bonds Fall on Downgrade
US equities slipped as S&P closed lower by 0.5% while Nasdaq was flat. European equities were much weaker as the FTSE and CAC fell 1.59% and 1.42%, though the DAX held up better with a 0.33% decline. US 10Y Treasury yields stayed nearly unchanged and continued to...
November 2020: 80% of Dollar Bonds In The Green on Vaccine Hopes
After a mixed bag in October, November saw a strong revival in demand for dollar bonds across the spectrum. Overall, 80% of the dollar bonds in our universe delivered a positive price return (ex-coupon). The box and whisker plot above shows how bonds moved in price...
CMT Launches S$ Bond; Sri Lanka Downgraded to CCC; BBVA-Sabadell Merger Scrapped; Amundi Warns SBI Over Aussie Coal Project
S&P closed higher by 0.2% while Nasdaq outperformed, up 0.9%. US 10Y Treasury yields fell 2bp on Friday while the 2s10s curve steepened over the week by 3bp. This week sees ISM and US payrolls data from the US, preliminary CPI numbers from the Eurozone and PMIs...
ECB Signals Dovish Tone; Tata Steel to Sell Dutch Biz for $7bn; TML Raises $300mn via 3.5NC2.5 at 5.5%; CIFI Upgraded
US markets were closed on account of Thanksgiving while European equities were flat. German 10Y Bund yields fell 3bp to -0.59% with dovish messaging from ECB Chief Economist Philip Lane and the minutes of their October meeting leading to some expectations of stimulus...
TML, Sunac Launch $ Bonds; AT1s Trade Up MTD; DIAL Downgraded; Regulators Probe EV Makers Incl. Evergrande
US equities retreated from the rally over the last week as S&P ended marginally lower 0.16% while Nasdaq outperformed, up 0.5% as Tesla continued its rally. US Treasury yields were largely stable with 10Y yields down 1bp at 0.87% even as jobless claims data for...
Nexco Launches $ Bond; EU Raises €8.5bn via 15Y Bond; Turkey Issues $2.25bn 10Y Bond at 6%; UOB Prices SG’s Largest EUR Covered Bond
The Dow topped 30,000 for the first time while S&P and Nasdaq rallied 1.6% and 1.3%. Cyclicals like energy and financials rallied 5.1% and 3.5% respectively. US Treasury yields were higher with 10Y yields up 7bp and 30Y yields up 10bp. The positive risk-on...
HDB, Shui On Launch Bonds; Zhongyuan AM’s $ Bonds Plummet; Oman Raises $500mn via Tap; Moody’s Says Refinancing to Be Difficult for Sri Lanka
US equities ended slightly higher with S&P up 0.6% led by energy, financials and industrials. US yields were higher with the 10Y and 30Y Treasury yields up 4bp and 5bp. News that former Fed Chair Janet Yellen will be nominated by President elect Joe Biden as the...
