** The main stories out of the region**
Today U.S. Treasury yields experienced a small uptick, with the 10-year rising to 4.52%, with markets watching for the Fed's rate decision later today. In terms of emerging market $ sovereign bonds, spreads were more less unchanged on the day. As a reminder it's the Luna New Year with most markets effectively closed. No new issues today.
In terms of newsflow, Mercedes -Benz announced it was joining a lawsuit brought by Geely against the EU in protest of tariffs on China EVs. The EV supply chain is very intertwined in Europe, and for now the battery makers are not a target. In China tech, we note that DeepSeek insights are likely to be a net positive for credit, helping to reduce development costs and time, while also bringing a much more capable AI product. JSW Steel announced it was pushing back the closing of its acquisition of coking coal supplier, Minas de Revuboe Limitada (Mozambique), to end June, due to a key lease asset being stripped by the government. The parties are in arbitration. Finally, highly rated (A1/A+) Sun Hung Kai has won the tender for some prime residential real estate in Hong Kong, adding to its land bank.
Best and Worst Performers (zprd, bp)
