MNI BRIEF: Japan Oct Sentiment, Outlook Indexes Both Fall

MNI: PBOC Net Injects CNY116.4 Bln via OMO Monday

MNI: China CFETS Yuan Index Down 0.21% In Week of Nov 8

MNI BRIEF: PBOC Has Room For More Easing : Research Head

MNI: PBOC Sets Yuan Parity Higher At 7.1786 Mon; +1.55% Y/Y

CHINA PBOC CONDUCTS CNY133.7 BLN VIA 7-DAY REVERSE REPOS MON

MNI BRIEF: China Oct CPI Slows For 2nd Month To 0.3% Y/Y

EZ/UK Bond Supply Calendar: NE, UK, DE Auction on Tuesday

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

CREDIT UPDATE: APAC Credit Spreads Widen, As Risk Markets Sell-Off

CREDIT UPDATE
BulletCredit Bullets
  • Asian markets are down today, impacted by weak U.S. jobs data and disappointing inflation figures from China. Japan's Nikkei 225 fell 2.1%, reaching its lowest level in nearly a month, as revised GDP data came in below expectations. In China, inflation data showed ongoing deflationary pressure, causing the HSI to fall 1.8% and the Shanghai Composite to decline 0.9%. Broader concerns about global economic health continue to weigh on investor sentiment.
  • It was a quiet session in Australia today, no major primary deals although we continue to see ABS/RMBS deals launch, while MUFG is doing a A$ 3y FRN. In secondary, markets were a touch weaker today with Sub -1/-2bps wider, the new QBEAU deal continues to trade well, while MQGAU lags although it's equity is up 9.35% over the past month. Elsewhere, snr Bank paper is flat to 1bps wider, while in the corp are a touch weaker with the new SCGAU giving back about 2bps although still trades 10-12bps tighter since issue.
  • Asia IG is little changed today with very little in the way of headlines. Property continues to struggle with equity indices off 1-3% today, while O&G was the worst performer outside property and trades +1/+2bps, while tech opened weaker although found support as the day got going.
  • Aus iTraxx CDS is 1bps higher at 65bps & while Asia Ex-J iTraxx is 1bp higher at 97bps
  • Headlines: RBC Now Sees First RBA Rate Cut in Feb. 2025 vs May Previously, Philippines Government may return to international bond market later this year after its $2.5b bond sale, according to Finance Secretary Ralph Recto.
  • Primary: China Minsheng $Bmrk 3Y FRN SOFR+110a, Chongqing Intl Logistics $ 3Y 6.5%a, Marubeni $Bmrk 5Y Bonds, ABN Amro $Bmrk 5Y SOFR+87-90a, Think Tank Residential A$500M Notes, MUFG Bank, Sydney A$ 3Y Floating Rate
295 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 markets are down today, impacted by weak U.S. jobs data and disappointing inflation figures from China. Japan's Nikkei 225 fell 2.1%, reaching its lowest level in nearly a month, as revised GDP data came in below expectations. In China, inflation data showed ongoing deflationary pressure, causing the HSI to fall 1.8% and the Shanghai Composite to decline 0.9%. Broader concerns about global economic health continue to weigh on investor sentiment.
  • It was a quiet session in Australia today, no major primary deals although we continue to see ABS/RMBS deals launch, while MUFG is doing a A$ 3y FRN. In secondary, markets were a touch weaker today with Sub -1/-2bps wider, the new QBEAU deal continues to trade well, while MQGAU lags although it's equity is up 9.35% over the past month. Elsewhere, snr Bank paper is flat to 1bps wider, while in the corp are a touch weaker with the new SCGAU giving back about 2bps although still trades 10-12bps tighter since issue.
  • Asia IG is little changed today with very little in the way of headlines. Property continues to struggle with equity indices off 1-3% today, while O&G was the worst performer outside property and trades +1/+2bps, while tech opened weaker although found support as the day got going.
  • Aus iTraxx CDS is 1bps higher at 65bps & while Asia Ex-J iTraxx is 1bp higher at 97bps
  • Headlines: RBC Now Sees First RBA Rate Cut in Feb. 2025 vs May Previously, Philippines Government may return to international bond market later this year after its $2.5b bond sale, according to Finance Secretary Ralph Recto.
  • Primary: China Minsheng $Bmrk 3Y FRN SOFR+110a, Chongqing Intl Logistics $ 3Y 6.5%a, Marubeni $Bmrk 5Y Bonds, ABN Amro $Bmrk 5Y SOFR+87-90a, Think Tank Residential A$500M Notes, MUFG Bank, Sydney A$ 3Y Floating Rate