MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI BRIEF: Market Cash Rate Pricing Off - RBA Minutes

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

China Repo Rates Rise On Tuesday

CHINA PBOC CONDUCTS CNY149.1 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1325 TUES VS 7.1415

Headline Consumer Sentiment Softens, House Price Expectations Rise Further

EZ/UK Bond Supply Calendar: Finland Syndi; Green Bunds Due Tues

CBRT Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

APAC Primary Market Picks Up, Indonesian Corps/Quasis Widen

CREDIT UPDATE
Credit BulletsBulletHomepagemarkets-real-timeCredit
  • Asian stocks are mostly higher today, with Japan's Nikkei 225 jumped over 2% after a previous decline, Hong Kong & China benchmarks slipped following the decision to keep lending rates unchanged. Australia's ASX 200 edged up 0.2% as the Reserve Bank of Australia emphasized its focus on controlling inflation, with no immediate rate cuts expected. Meanwhile, the MSCI Asia-Pacific index is on track for its third consecutive day of increases. There have been little in the way of market headlines today.
  • It has all been about primary deals today in Australia, NBN are printing a three tranche deal 3yrs fxd/frn at +87bps & a 7yr fxd green bond at +125bps, BP printing a 5yr at +125bps area & 10yr at +165bps area, Orix 3.5yr at +145bps area, there has been some weakness in corps as accounts look to sell to fund these new deals, high beta names are seeing good two-way with retail continuing to buy. Financials are mixed with snr banks lines little changed, while Tier 2 continues to trade a touch weak following last weeks supply.
  • Asia IG spreads are 1-2bps tighter today, financials 1-2bps tighter, Industrials 1-3bps tighter, O&G 1-2bps tighter, Tech 1-3bps tighter, Real Estate is 1bps tighter. Asia Primary markets have also picked up with 4 deals today, following just the one on Monday.
  • Indonesian quasis have started to widen again after the national budget was released which has worried investors about government spending, spreads have move 1-4bps since
  • Aus iTraxx CDS is down 2bps to 64bps & Asia Ex-J iTraxx is 1bps lower at 93bps
  • Headlines: " Kaisa Enters Restructuring Support Agreement With Creditor Group", " R&F’s Hong Kong Unit Gets Wind-Up Petition"
  • Primary: La Trobe Financial Capital Markets A$750m, BOC (Dubai) Branch USD 3Y SOFR Green Notes, +105bps area, Avic International Leasing $Benchmark 3Y +125 Area, Wuxing City Investment HK $TBD 3Y 5.5% area, Yibin Emerging Industry Investment USD 3Y at 5.9% area, OCBC Sydney Branch A$ 3Y FRN, 3m BBSW +73bp area
325 words

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.
  • Asian stocks are mostly higher today, with Japan's Nikkei 225 jumped over 2% after a previous decline, Hong Kong & China benchmarks slipped following the decision to keep lending rates unchanged. Australia's ASX 200 edged up 0.2% as the Reserve Bank of Australia emphasized its focus on controlling inflation, with no immediate rate cuts expected. Meanwhile, the MSCI Asia-Pacific index is on track for its third consecutive day of increases. There have been little in the way of market headlines today.
  • It has all been about primary deals today in Australia, NBN are printing a three tranche deal 3yrs fxd/frn at +87bps & a 7yr fxd green bond at +125bps, BP printing a 5yr at +125bps area & 10yr at +165bps area, Orix 3.5yr at +145bps area, there has been some weakness in corps as accounts look to sell to fund these new deals, high beta names are seeing good two-way with retail continuing to buy. Financials are mixed with snr banks lines little changed, while Tier 2 continues to trade a touch weak following last weeks supply.
  • Asia IG spreads are 1-2bps tighter today, financials 1-2bps tighter, Industrials 1-3bps tighter, O&G 1-2bps tighter, Tech 1-3bps tighter, Real Estate is 1bps tighter. Asia Primary markets have also picked up with 4 deals today, following just the one on Monday.
  • Indonesian quasis have started to widen again after the national budget was released which has worried investors about government spending, spreads have move 1-4bps since
  • Aus iTraxx CDS is down 2bps to 64bps & Asia Ex-J iTraxx is 1bps lower at 93bps
  • Headlines: " Kaisa Enters Restructuring Support Agreement With Creditor Group", " R&F’s Hong Kong Unit Gets Wind-Up Petition"
  • Primary: La Trobe Financial Capital Markets A$750m, BOC (Dubai) Branch USD 3Y SOFR Green Notes, +105bps area, Avic International Leasing $Benchmark 3Y +125 Area, Wuxing City Investment HK $TBD 3Y 5.5% area, Yibin Emerging Industry Investment USD 3Y at 5.9% area, OCBC Sydney Branch A$ 3Y FRN, 3m BBSW +73bp area