SGD Bond Market Mid Year Review : Top Performers

I am hearing renewed market interest in the perps recently. Cheung Kong and Genting perps have enjoyed a decent rally in the past weeks.

This is apparently due to some sell side recommendations disbursed to clients.

Thus, nosy old me decided to tabulate the best performing bonds for 2014, including the old issues for all  bonds which have rallied in price by over 1 ct.

No surprises that Olam has returned over 12% if you had bought it on 2 Jan this year and more if you had bought it last year.

Noteworthy too, are the Indian names, all rallying back furiously from their lows of last year and my favourite Unicredit sub debt (all still under 100 though).

And the biggest joke of all, for all the mad yield scramble amongst the retail folks for yields and high yields and more yields, the best performing bond issue in 2014 is HDB 3.948% 2029 issued in Jan this year, returning nearly 4%, excluding coupon earned.

The Trafigura perpetual comes second and dear Amtek Engineering is 3rd. Putting it in perspective, the Amtek is still giving a better yield than today’s Aspial.

Here goes and happy reading.

Best Performing Bonds for 2014 so far (prices and data unverified). Highlighted are the bonds issued in 2014.