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CREDIT UPDATE: APAC Spreads Unch, China, HK & South Korea Out

CREDIT UPDATE
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  • Global equities are mostly higher today as investors navigate central bank policy signals, political developments, and geopolitical risks. In Japan, stocks posted gains fueled by a weaker yen, boosting exporters like technology and automotive firms. The Topix +1.70% and Nikkei 225 +1.90% driven by positive sentiment following the BoJs dovish stance, even as the Tankan report bolstered confidence in the economy. Investors remain cautious following headlines that Israel had begun “targeted ground raids” in southern Lebanon, escalating a campaign to root out Hezbollah despite international appeals for restraint and US Dockworkers strike is set to go ahead following now deal being reached.
  • It has been another slow session in Asia today, with Hong Kong, China & South Korea all out for public holidays. In Australia, it was another day of no primary deal. In secondary trading today spread are little changed, there has been small buying from local accounts just topping up positions although volumes have been on the light side, non-bank tier 2 has been the top performing space and trades -1/-2bps.
  • With the majority of Asia out today, Asia IG spreads are unch and there has been no primary deals to note.
  • Aus iTraxx CDS is unch at 63.5bps & while Asia Ex-J iTraxx is unch 69bps
  • Headlines: China’s top 100 developers saw their combined contract sales down on year to 251.7b yuan in September, according to data released by China Real Estate Information Corp, Fitch Affirmes Woodside at BBB+, Outlook Stable.
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  • Global equities are mostly higher today as investors navigate central bank policy signals, political developments, and geopolitical risks. In Japan, stocks posted gains fueled by a weaker yen, boosting exporters like technology and automotive firms. The Topix +1.70% and Nikkei 225 +1.90% driven by positive sentiment following the BoJs dovish stance, even as the Tankan report bolstered confidence in the economy. Investors remain cautious following headlines that Israel had begun “targeted ground raids” in southern Lebanon, escalating a campaign to root out Hezbollah despite international appeals for restraint and US Dockworkers strike is set to go ahead following now deal being reached.
  • It has been another slow session in Asia today, with Hong Kong, China & South Korea all out for public holidays. In Australia, it was another day of no primary deal. In secondary trading today spread are little changed, there has been small buying from local accounts just topping up positions although volumes have been on the light side, non-bank tier 2 has been the top performing space and trades -1/-2bps.
  • With the majority of Asia out today, Asia IG spreads are unch and there has been no primary deals to note.
  • Aus iTraxx CDS is unch at 63.5bps & while Asia Ex-J iTraxx is unch 69bps
  • Headlines: China’s top 100 developers saw their combined contract sales down on year to 251.7b yuan in September, according to data released by China Real Estate Information Corp, Fitch Affirmes Woodside at BBB+, Outlook Stable.