It has been a profitable ride especially for Asian credit investors buying into rated and unrated high yield bonds issued by a plethora of Asian companies over the last 2 years. Credit spreads… Continue reading
They say 2014 is the peak birth year with the most babies born ever 139 million of them screaming tots, 4.4 babies born per second to inherit the 111 trillion in debt we… Continue reading
The S&P500 seems to be topping up here, and we probably need a rest before rallying higher. If you plot UST10y yields versus S&P500 (USGG10YR Index SPX Index HS on your Bloomberg), you… Continue reading
New Gallant Venture SGD 3yr announced on the back of strong reverse inquiries May 5 (Bloomberg) — Person familiar with the matter says. • Issuer: Gallant Venture Ltd. • Tenor: 3-yr • Initial… Continue reading
40 days to the World Cup and they say we cannot sell in May because it is the probably the last leg for something to happen. Pfizer makes headlines with the largest acquisition… Continue reading
As we approach a new peak in the Citi AUD Pain index*, along with a nice top in the Economic Surprise Index**, markets are turning long in the AUD, led by the usual… Continue reading
Read this. “Japan’s debt burden is extraordinary. Total debt to GDP tops 500%. Government expenditure is 20x government revenues. Interest on government debt is 25% of government revenue.” http://www.forbes.com/sites/jamesgruber/2014/04/27/japan-deflation-to-end/ It is not that… Continue reading
April 28 (Bloomberg) — Price guidance in “6.5% area”: exchange filing. • Format: Reg S, according to a person familiar with the matter • Expected Issue Ratings: Ba3 / BB- (Moody’s/S&P), person said,… Continue reading
Hard Choices : Challenging the Singaporean Consensus is the latest book hot off the press from our elite think tank incubators. This is not the be confused with Hillary Clinton’s memoir of the… Continue reading
Behold, the world just saw the largest Junk Bond offering in history. April 24 (Bloomberg) — Billionaire Patrick Drahi is winning friends in the junk-bond market. After selling the equivalent of about $23… Continue reading