Bonds In Conversation : Uninspired For Now

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“Success is a lousy teacher. It makes smart people think they can’t lose.” ~ Bill Gates Outflows continued from EM bond space, EM bond funds are observing outflows for 22 out of past… Continue reading

Too Much Of A Good Thing – Markets

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Have you ever eaten too much of a good thing that it made you ill ? Or when someone offers you a deal too good to be true that it made you wary… Continue reading

Ad Hoc Commentary – ECB rate cut: the European sovereign debt crisis has come home to roost

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The official story is the European Central Bank (ECB) interest rate cut is to prevent euro zone’s recovery from stalling as inflation tumbles. That is good enough for most. However, yours truly believe… Continue reading

DBS Preference Share Switch

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Nov. 7 (Bloomberg) — Buy back is for non-cumulative non-convertible non-voting class N preference shrs callable in 2020: DBS in exchange filing. DBS to accept tenders amounting to S$800m A Holder whose Existing… Continue reading

It is Not Quite Default Time For FNN

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Reuters reported that FNN is heading for a showdown with bondholders who were unhappy with the terms of FNN’s offer for their papers. “F&N will be a very different company now with FCL… Continue reading

SGD Rates and Bonds Weekly And… New Issue : HDB Adjusts Our Risk Free Rate

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Economic News Unemployment Rates 3Q13 1.8% versus previous 2.1% Bank Loans and Advances Sep +15.7% YoY versus previous 15.4% IRS Higher rates reacting in line with higher US yields, the impression of a… Continue reading

Remember, Remember, The 5th of November

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Gunpowder, Treason and Plot I see no reason why gun powder, treason, Should ever be forgot It’s Guy Fawkes Day and Twitter will close its IPO at a 25% premium. I think necessary… Continue reading

Out of Inspiration : Follow JPM ?

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Perhaps it was the solar eclipse yesterday that sapped the energy out of me. Or perhaps it had to do with my insane whopper of a bbq session last night that involved roasting… Continue reading

Good EM, Bad EM

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One good thing that emerged from the mini EM crisis that erupted in Jul, lasting into August is that markets have become more discerning over this whole EM business. The ensuing correction over… Continue reading

EUR – The Inevitable Lost Decade Does Not Mean Lots More Shopping ?

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It has not been a good week for the Euro with mostly bad news, higher Sep unemployment (12.2%, a record high) and lower Oct CPI (+0.7%, weakest since 2009), leading some to speculate… Continue reading