MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: GERMANY OCT IND PROD -1% M/M

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

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

CREDIT UPDATE: APAC Credit Markets Slow With Markets Out & Ahead Of FOMC

CREDIT UPDATE
BulletCredit Bullets
  • Asian equities have been mixed today, there was initial weakness in Japanese Tech stocks following the Nasdaq trading lower during the US session, Semiconductor stocks were the worst performing, while the stronger yen again weighed on exporters. Hong Kong equities were higher across the board today, property names saw some relief on the hope a Fed rate cut would support the sectors, Australian equities were slightly higher, with Real estate names the top performing sector, while most other markets were closed for public Holidays.
  • It has been an incredibly quiet day in the APAC credit markets with no new bond issues hitting the market although the A$ ABS/RMBS market continues to bring new deals, Origin Energy may look to hold off until after the Fed decision before bringing their 7yr deal to market. In secondary trading today, flows were on the light side with snr/sub bank bonds both unch, there was small buying in the higher yielding lines including SCGAU Tier 2, and the new ANZ AT1 although levels are little changed.
  • With most of Asia out today there is little to mention, no primary deal while spreads were unch. Spreads on Asia IG credit looks to have found some support, after widening 9bps through September to trade 5bps inside August 5 levels. Spreads on Asia HY have been under pressure of late, largely driven by moves in the property sector, OAS are now +725bps about 200bps wider than the June lows.
  • Aus iTraxx CDS is unchanged at 63bps & while Asia Ex-J iTraxx is unchanged at 96.5bps
255 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 equities have been mixed today, there was initial weakness in Japanese Tech stocks following the Nasdaq trading lower during the US session, Semiconductor stocks were the worst performing, while the stronger yen again weighed on exporters. Hong Kong equities were higher across the board today, property names saw some relief on the hope a Fed rate cut would support the sectors, Australian equities were slightly higher, with Real estate names the top performing sector, while most other markets were closed for public Holidays.
  • It has been an incredibly quiet day in the APAC credit markets with no new bond issues hitting the market although the A$ ABS/RMBS market continues to bring new deals, Origin Energy may look to hold off until after the Fed decision before bringing their 7yr deal to market. In secondary trading today, flows were on the light side with snr/sub bank bonds both unch, there was small buying in the higher yielding lines including SCGAU Tier 2, and the new ANZ AT1 although levels are little changed.
  • With most of Asia out today there is little to mention, no primary deal while spreads were unch. Spreads on Asia IG credit looks to have found some support, after widening 9bps through September to trade 5bps inside August 5 levels. Spreads on Asia HY have been under pressure of late, largely driven by moves in the property sector, OAS are now +725bps about 200bps wider than the June lows.
  • Aus iTraxx CDS is unchanged at 63bps & while Asia Ex-J iTraxx is unchanged at 96.5bps