Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

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Adani Ports & Special Economic Zone / Credit

US markets ended the week on another record high. S&amp;P and Nasdaq were both up 1% and markets enter the upcoming week with a Fed Meeting lined up along with high profile earnings reports from Apple, Alphabet, Facebook, Amazon, Microsoft, Tesla and Boeing . Consumer Services led the gains up 2.7%. Utilities, Consumer Stables, Health Care, and IT were up ~1%. Markit Flash US composite and services PMIs for July came in lower at 59.7 and 59.8 respectively vs. last month’s 63.7 and 64.6 while the manufacturing PMI was higher at 63.1 vs 62.1 last month. US 10Y Treasury yields tightened by 2bp to 1.26%. Euro zone activity  grew in July to a 21-year high with flash composite PMI at 60.6 vs. 59.5. The European bourses also closed higher – CAC, DAX and FTSE were up 1.4%, 1% and 0.9%. US IG CDS spreads tightened 0.7bp and HY tightened 3.4bp. EU Main and Crossover spreads tightened 0.9bp and 3.4bp respectively. Brazil’s Bovespa was down 0.9%. Middle East markets opened the week in the green after the Eid break. Saudi TASI and UAE’s DAX were up 0.8% and 0.6% respectively. Asian markets looked for direction as Chinese tech shares continued to drop as Chinese regulators barred Tencent from exclusive rights in online music – the Nikkei is up 1.3% while HSI, Shanghai and Singapore’s STIs are down 2.4%, 0.8% and 0.2% respectively. Asia ex-Japan CDS spreads were 0.3bp wider.

Adani Ports, Temasek Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

<a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> bondholders are being notified that the company is calling its bonds in August at the below market price of 102.65.Don’t say I didn’t warn you.(See my full discussion in <a href="https://www.smartkarma.com/insights/tesla-goes-to-record-extremes-to-create-q1-profits" target="_blank" data-smartkarma-citation="insights:50821" rel="noopener">Tesla Goes to Record Extremes To Create Q1 "Profits"</a>  on 4/28/21).

Tesla Motors (TSLA US) bondholders are being notified that the company is calling its bonds in August at the below market price of 102.65.Don’t say I didn’t warn you.(See my full discussion in Tesla Goes to Record Extremes To Create Q1 "Profits"  on 4/28/21).

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>There is a very compelling narrative around Tesla, but unconventional monetary policy is having a strong impact on the share price.</li>
<li>Aided by ample liquidity, momentum trade has become a key driving force of Tesla's share price once we account for value performance.</li>
<li>At this point in time, value rotation and momentum trades have far stronger implications for Tesla's share price than business fundamentals do.</li>
</ul>


There is a very compelling narrative around Tesla, but unconventional monetary policy is having a strong impact on the share price.
Aided by ample liquidity, momentum trade has become a key driving force of Tesla's share price once we account for value performance.
At this point in time, value rotation and momentum trades have far stronger implications for Tesla's share price than business fundamentals do.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/paytm-mobile-solutions-pvt-ltd" target="_blank" data-smartkarma-citation="entities:26149:1" rel="noopener">Paytm (PAYTM IN)</a> plans to raise around US$2.2bn via a mix of selling primary and secondary shares in its India IPO. The company is backed by <a href="https://www.smartkarma.com/entities/ant-group-co-ltd" target="_blank" data-smartkarma-citation="entities:24240:1" rel="noopener">Ant Financial Services Group (6688 HK)</a> (<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a>), <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> and counts <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> among its investors.Paytm offers payment services, commerce and cloud services, and financial services to 333m consumers and over 21m merchants, as of Mar 21. It offers consumers a wide selection of payment options on the Paytm app. It also offers merchants solutions that allow them to accept payments, acquire and retain consumers, improve their business operations and access financial services.The company clocked payment gross merchant value (GMV) of INR4tn (US$50bn) in FY21 for 114m transacting users during the year. Its users undertook a total of 7.4bn transactions in 2020. Along with its payment infrastructure, PayTM also runs a payment bank, in which it owns a 49% stake. The payment bank had a deposit base of INR52bn across 64m payment bank accounts.In this note we will talk about the positive aspects of the deal.

Paytm (PAYTM IN) plans to raise around US$2.2bn via a mix of selling primary and secondary shares in its India IPO. The company is backed by Ant Financial Services Group (6688 HK) (Alibaba Group (BABA US)), Softbank Group (9984 JP) and counts Berkshire Hathaway Inc Cl A (BRK/A US) among its investors.Paytm offers payment services, commerce and cloud services, and financial services to 333m consumers and over 21m merchants, as of Mar 21. It offers consumers a wide selection of payment options on the Paytm app. It also offers merchants solutions that allow them to accept payments, acquire and retain consumers, improve their business operations and access financial services.The company clocked payment gross merchant value (GMV) of INR4tn (US$50bn) in FY21 for 114m transacting users during the year. Its users undertook a total of 7.4bn transactions in 2020. Along with its payment infrastructure, PayTM also runs a payment bank, in which it owns a 49% stake. The payment bank had a deposit base of INR52bn across 64m payment bank accounts.In this note we will talk about the positive aspects of the deal.

Paytm (One 97) Pre-IPO - The Positives - Will Be One of India’s Largest IPOs

US Markets carved out another day of gains ahead of the earnings from the major US banks. S&amp;P, up 0.4%, continued its record breading streak and Nasdaq, up 0.2%, inched closer to its record high. Most sectors gained with Financials, Real Estate and Communication Services up ~0.9% leading from the front. Tesla was the notable gainer, up 4.4% after the court testimony by Elon Musk. JP Morgan and Goldman Sachs were also up 1.4% and 2.3% ahead of the release of their 2Q earnings. US 10Y Treasury yields were only 1bp higher to 1.37%. European indices also continued their upward momentum – DAX, CAC and FTSE up 0.7%, 0.5% and 0.1% respectively. US IG and HY CDS spreads tightened 0.1bp and 0.5bp respectively. EU main CDS spread were flat while crossover spreads tightened 0.4bp. Brazil’ Bovespa was up 1.7%. Saudi TASI and Abu Dhabi’s ADX were up 0.1% and 0.4% respectively. China’s exports in June jumped 32.2% YoY while its imports were up 36.7%. Asian stocks also advanced – HSI up 1.8% led the gains. Nikkei, Shanghai and Singapore’s STI are up 0.8%, 0.3% and 0.5% respectively. Asia ex-Japan CDS spreads were 0.2bp tighter.

COGARD, Sunac Launch $ Bonds; Macro; New Issues; Rating Changes; Talking Heads; Top Gainers & Losers

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Adani Ports, Temasek Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

US markets ended the week on another record high. S&P and Nasdaq were both up 1% and markets enter the upcoming week with a Fed Meeting lined...

BondEvalue

Tesla About to Call It's 5.3% Bonds

Remember when I warned that Tesla should call its bonds soon, and below market price? Yeah, that's happening. Tesla is advising bondholders that it...

Vicki Bryan

Tesla: The Narrative Bias

There is a very compelling narrative around Tesla, but unconventional monetary policy is having a strong impact on the share price.

Vladimir Dimitrov, CFA

Paytm (One 97) Pre-IPO - The Positives - Will Be One of India’s Largest IPOs

Paytm plans to raise around US$2.2bn in its India IPO. The company is backed by Ant Fin, Softbank (9984 JP) and counts Berkshire Hathaway among its...

Sumeet Singh

COGARD, Sunac Launch $ Bonds; Macro; New Issues; Rating Changes; Talking Heads; Top Gainers & Losers

US Markets carved out another day of gains ahead of the earnings from the major US banks. S&P, up 0.4%, continued its record breading streak...

BondEvalue

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