Bonds In Conversation : Give Way, And Go To Heaven

17/04/2014 by

Plenty of time, I had, to practise iPhone photography, ponder on the nation’s traffic woes and think about markets this morning. Yes, it was the usual Causeway jam (into Singapore).

The jam on the Singapore side is errr, mainly because of the bottle neck in leaving and entering the Customs complex as the cars, just won’t give way, and seconds add up into minutes, which add up into hours. And putting an ERP gantry at the causeway would be futile (possibility result in accidents).

So I am offering a free punchline to the traffic police department. How about “Give Way And Go To Heaven” ?

Does it sound too morbid ? As if death is knocking on one’s door ?

Of course I had other ideas, involving my drones, to have mobile flying drones that do auto passport scans which could be deployed in squadrons complete with DNA matching for passport holders to alleviate the load during peak hours. (Illegals etc will be automatically neutralised or detained via stun guns etc)

A good week and a short one for us, with Europe going into a long weekend for Easter.

A merest of corrections that got all private bankers flustered and worried especially with all those Nasdaq companies that are trading in the billions but not really producing profits for a while.

I have a few recommendations in my In Box to BUY Equities. Buy China. Buy EM. Buy, Buy, Buy.

And my brain goes BUY YOUR BS (BS = backside or bullshit / optional).

Parliament is taking a mid-term break at a time when the country is in transition, and adjusting to new domestic needs while navigating an uncertain international environment, Prime Minister Lee Hsien Loong said on Tuesday. – See more at: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/parliament-going-recess-time-transition-singapore-pm-lee#sthash.s6Fb0yf3.dpuf

Even he does not know what will happen.

We have new bond issues and IPOs bull dozing their way through now in rapid succession at a rate at which nobody seems particularly interested in clearing their debts. Massive takeovers of I buy you and you buy me, Capitaland buys Capitamall Asia and Citic Pacific buys parents assets. Sounds like a lot of ballooning transfers to me.

And this headline from Citi sort of sums it all up for us, really, about who is in charge. “Fed speakers trump the data…”

And probably trumps all the lessor central banks too, which is politically incorrect to say.

I think there was another trust product default in China this week but they called the army in and the crowd dispersed. http://www.zerohedge.com/news/2014-04-16/special-forces-confront-chinese-investors-demanding-failed-trust-pay-back-our-money

But Li Ka Shing has reportedly sold his last Chinese real estate asset. http://www.zerohedge.com/news/2014-04-16/richest-man-asia-selling-everything-china

I will not even bother to tell you that credits are doing well and that they came off marginally because of slightly worse Chinese data and funds are still flowing into EM. Because Give Way, And Go To Heaven could either mean 1. you get rewarded or 2. you still die.

Happy Easter !!

USD Bonds listed in SGX and HK ( we will probably be loading this into the bond directory in the coming weeks)