MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

APAC Credit Grinds Tighter, Macau Gaming Revenue Misses

CREDIT UPDATE
  • Asian equities were mixed today with Japanese equities gapping lower on the back of a stronger yen with exporters down while Real Estate stocks were lower on the back on the BoJ hike. Elsewhere Taiwan & SK equities higher on the back of US tech stocks rallying overnight after the Philadelphia SE Semiconductor Index surged about 7%
  • overnight.
  • Aus credit continues to be well bid and grind tighter, there looks to be a real lack of supply around at the moment with most bank done or almost done of issuing Tier 2 paper for the year, suspect all outstanding bonds to continue to move tighter. Snr bank paper was little changed today, while corps again saw small buying through the longer-end of the curves.
  • Asia IG was little changed overall today, there was better buying seen in tech & semiconductor names with the sector 1-2bps tighter, while SOEs and Quasis were also well supported with Korean/China names 1-3bps tighter, while Indonesian Quasis are 1-2bps better on a slightly stronger IDR after CPI cooled.
  • Macau’s gaming revenue grew 12% y/y in July, missing the 14% growth forecast and reaching only 76% of pre-pandemic levels. The underperformance is attributed to Beijing’s crackdown on illegal money exchanges and cross-border gambling, which has dampened sentiment among gamblers. Additionally, visitor arrivals have slowed, and China’s economic downturn has shifted tourist spending away from luxury items
  • In the China Real Estate space Shimao Group & Times China had their winding-up hearings postponed until Aug. 12 as they seek to consolidate support for their restructuring plans and Hong Kong developer New World Development announced a tender offer to buy back up to $400 million in bonds to enhance investor confidence. The company is offering a premium to market prices for its 4.75% 27s & 6.15% Perps.
  • Aus iTraxx CDS is 1bp lower at 64.5bps & Asia Ex-J iTraxx is also 1bp lower at 95.5bps
  • Primary: Humm Group NZ$149.85M Notes, May Increase
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.