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EM ASIA CREDIT: MNI EM Credit Market Wrap - Asia

EM ASIA CREDIT
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** The main stories out of the region**

10yr U.S. treasury yields were around 1bp higher in the Asia-Pacific session, with markets still digesting Fed Chair Powell's post FOMC comments.  Asia EM valuations are a bit softer today, with govie/agency bond spreads 1-2bp weaker, with Indonesia and Malaysia underperforming slightly. No single name stories are playing out at the moment, with the new issue market relatively quiet. No update yet on ENN Energy, which remains suspended. Presumably an update after market close. In equities, Indonesia (JCI -1.2%) had a broad fall across industries, while in China (CSI 300 -2.2%) the move lower is lead by tech.

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image

** The main stories out of the region**

10yr U.S. treasury yields were around 1bp higher in the Asia-Pacific session, with markets still digesting Fed Chair Powell's post FOMC comments.  Asia EM valuations are a bit softer today, with govie/agency bond spreads 1-2bp weaker, with Indonesia and Malaysia underperforming slightly. No single name stories are playing out at the moment, with the new issue market relatively quiet. No update yet on ENN Energy, which remains suspended. Presumably an update after market close. In equities, Indonesia (JCI -1.2%) had a broad fall across industries, while in China (CSI 300 -2.2%) the move lower is lead by tech.

Keep reading...Show less