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APAC Credit Little Changed As Markets Closed For Public Holidays

CREDIT UPDATE
  • Regional Asian equities have been very slow today, with many markets closed for public holidays. Declines in South Korea have been offset by gains in Japan, while the MSCI Asia Pacific fell by as much as 0.30%.
  • It has been a very slow session in APAC credit today: Aus Credit & Asia IG is unchanged in spread terms, outright yields are 5-12bps higher following moves in rates. EM Sovs are 1-3bps tighter
  • Aus iTraxx CDS is unchanged at 65.5bps & Asia Ex-J iTraxx is unchanged at 96.5bps
  • Rates: local rates followed moves made in the UST markets with yields anywhere from 2-12bps higher. Tsys futures have traded in very narrow ranges today,
  • Data: GDP -0.05% vs -0.05%, GDP annualized -1.8% vs -2.0%, BoP Current Account Balance was ¥2050.5b vs ¥1783.5b.
  • Primary Deals: No primary deals today

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