Tag Archive: UNICREDIT SPA 5.5% 07/2023

SGD NEW ISSUE REVIEW : BPCE 10.5NC5.5 SGD TIER2

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NEW BPCE 10.5NC5.5 SGD TIER 2 – New 10.5NC5.5 SGD T2 announced at the back strong reverse/IOI – Expected issue ratings: Baa3/BBB/A- (M/S/F) – Price guidance @ 4.50% area – Size: TBD –… Continue reading

Bonds In Conversation : Missing the Forest For the Trees

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How did we miss the forest for the trees ? The best performing asset in the world this week would be Bitcoins which are up 50%. The talk is that China has just… Continue reading

Bonds In Conversation : Sorry America And Thank You.

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What does one expect to gain by saying this ? “I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the… Continue reading

High Yield Corporate Bonds : Few And Far Between

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Singaporeans are a suspicious lot. Give them a high yield, under subscribed issue and they will run. If you give them a low yield, over subscribed issue, its ok even if the bond… Continue reading

Bonds In Conversation : Fed With A Heart For How Long ?

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“America’s companies, from Apple Inc. (AAPL) to Verizon Communications Inc., are saving about $700 billion in interest payments with the Federal Reserve’s unprecedented stimulus.” http://www.bloomberg.com/news/2013-09-17/bernanke-saves-companies-700-billion-as-apple-to-verizon-borrow.html We have not counted what the rest of… Continue reading

Bonds In Conversation : Survival of The Fittest

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Largest Bond Deal Ever In History Verizon (Baa1/BBB+/A-) Sells $49b in 8-Part Offering, Largest Bond Deal Ever Verizon’s deal tops Apple’s 6-part, $17b offering. $4.25b 3Y fixed sold at+165bps $2.25 3Y FRN sold… Continue reading

Bonds In Conversation : When It Rains, It Floods

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I have floods on my mind though I have not mustered the courage to step foot outside yet for the entire day. The 10Y US treasury note suffered a nasty tumble yesterday, led… Continue reading

Bonds In Conversation : The Day The Music Died (Updated)

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  I have a personal signal for market distress. 2nd hand Lamborghinis for sale. In the recent month, we have seen the listings jump a few fold. Someone told me long ago that… Continue reading

Which SGD Bonds Have Widened And Which Haven’t (Amended)

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Decided to do some stats for the 2013 SGD corp issues. Out of the 87 or so issues this year, about 45 are under 100, another 24 trading above 100 and the rest,… Continue reading

Weekend Credit Headlines

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France was cut by one step to AA+ from AAA, Fitch said today, joining Moody’s Investors Service and Standard & Poor’s in removing France from the shrinking club of top-rated governments. The outlook… Continue reading