Volatility sidelines Asian issuers

摘要

Global volatility meant only a handful of Asian issuers dared brave the offshore bond market last week, and those that did had to pay up. Ten-year US Treasury yields jumped 5bp on February 2 on better than expected non-farm payrolls and wage growth, then fell 13bp last Monday before rising 10bp on Tuesday. The iTraxx Asia ex-Japan investment-grade CDS index widened 4bp on Monday and by the same amount on Tuesday, as risk appetite fell.