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

Credit

US markets remained closed for labor day celebrations. European markets notched the best day in six weeks – DAX, CAC and FTSE were up 1%, 0.8% and 0.7% respectively. Saudi’s TASI was also up 0.6% while UAE’s ADX was down 0.1%. Brazil’s Bovespa also closed 0.8% higher. The Chinese Vice President said that Beijing will back private business in a bid to boost investor confidence. Asian markets had a mixed start – HSI and Nikkei gained 1% and 0.9% in early trade. Shanghai was broadly flat. Singapore’s STI was down 0.2%. US 10Y Treasury yields climbed another 2bp to 1.34%. EU Main CDS and Crossover CDS spreads tightened by 0.5bp and 2.7bp respectively. Asia ex-Japan CDS spreads widened 0.1bp.

DBS, Keppel, China Everbright Launch Bonds; Macro; Rating Changes; Talking Heads; New Issuances; ...

US markets remained close to highs even as the S&amp;P dipped slightly by 0.1%. The tech heavy Nasdaq on the other hand gained 0.5%. There seemed to be little impact of the new G7 15% global corporate tax on multinationals as Amazon was up 0.3% and Google up 0.1%. US 10Y Treasury yields were 1bp lower at 1.56%. In Europe, DAX closed marginally lower by 0.1% while FTSE and CAC were up 0.1% and 0.4% respectively. US IG and HY CDS spreads widened slightly by 0.3bp each. EU main CDS spreads tightened marginally by 0.2bp and crossover CDS spreads were flat. Asian markets are largely flat with Nikkei up 0.3% and Shanghai and HSI unchanged, Asia ex-Japan CDS spreads tightened 1.2bp.

Kaisa, Everbright Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & L...

Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<p><strong><em>*Positive Operating Jaws: </em></strong>China Everbright Bank (6818.HK) [CEB] reported 1Q21 results of CNY 11.5 bn, increasing CNY 3.3 bn (40.1%) linked quarter. When we exclude securities gains, results were less robust coming in at CNY 8.5 bn, but still improving CNY 1.8 bn (27.4%). Results were driven by CEB’s positive operating jaws, as revenues improved CNY 2.6 bn (7.7%) while costs declined CNY 660 mn (6.1%); and</p><p><strong><em>*Credit Wall Continues To Grow:</em></strong> Net new problem loans continue to accelerate at Indian bank pace of CNY 11.5 bn or 110.8% on an annualized basis. By our calculation, reserve are short in the neighborhood of CNY 103 mn which represents about three years of 1Q20 core operating results. Provided (and its not a stretch) that the net new NPL ratio trajectory holds, reserve cover of NPLs will drop to 77%. </p>

*Positive Operating Jaws: China Everbright Bank (6818.HK) [CEB] reported 1Q21 results of CNY 11.5 bn, increasing CNY 3.3 bn (40.1%) linked quarter. When we exclude securities gains, results were less robust coming in at CNY 8.5 bn, but still improving CNY 1.8 bn (27.4%). Results were driven by CEB’s positive operating jaws, as revenues improved CNY 2.6 bn (7.7%) while costs declined CNY 660 mn (6.1%); and*Credit Wall Continues To Grow: Net new problem loans continue to accelerate at Indian bank pace of CNY 11.5 bn or 110.8% on an annualized basis. By our calculation, reserve are short in the neighborhood of CNY 103 mn which represents about three years of 1Q20 core operating results. Provided (and its not a stretch) that the net new NPL ratio trajectory holds, reserve cover of NPLs will drop to 77%. 

China Everbright Bank – Credit Remains Troublesome

The risk-on risk-off (RORO) sentiment continues as US equities fell again on Wednesday with the S&amp;P down 1.3% and Nasdaq down 2.7% falling just below 13k. US 10Y Treasury yields rose by 8bp towards 1.5% after trading largely flat for three days despite the risk-off tone. US ISM Services PMI disappointed at 55.3 vs. expectations of 58.7 while ADP private sector payrolls rose by 117k, disappointing forecasts of 177k. Europe’s FTSE, DAX and CAC outperformed, up 0.9%, 0.3% and 0.4%. US IG CDS spreads were 1.2bp wider and HY was 5.7bp wider. EU main CDS spreads widened 0.4bp and crossover spreads widened 2.2bp. Asian equity markets are down over 0.5% and Asia ex-Japan CDS spreads are tighter by 0.3bp.

Everbright Launches $ Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

<div><p>In keeping with the day of the week and date, we look at some charts of short interest and price for stocks from Korea, Taiwan and Hong Kong.</p></div><div><p>These stocks have seen a large upward move in short interest accompanied by big price moves and could be candidates for a stock collapse or squeeze.</p></div>

In keeping with the day of the week and date, we look at some charts of short interest and price for stocks from Korea, Taiwan and Hong Kong.These stocks have seen a large upward move in short interest accompanied by big price moves and could be candidates for a stock collapse or squeeze.

Asia Short Interest - Friday the 13th Edition

Hong Kong

China Everbright is a Hong Kong-based financial services company specializing in cross-border asset management and investment. It manages a diverse portfolio of private equity, venture capital, and sector-focused funds, alongside principal investments in areas such as aircraft leasing, elderly care, and AIoT. The company was founded in 1997 and is headquartered in Hong Kong.

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China Everbright (165 HK)

DBS, Keppel, China Everbright Launch Bonds; Macro; Rating Changes; Talking Heads; New Issuances; ...

US markets remained closed for labor day celebrations. European markets notched the best day in six weeks – DAX, CAC and FTSE were up 1%, 0.8% and...

BondEvalue

Kaisa, Everbright Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & L...

US markets remained close to highs even as the S&P dipped slightly by 0.1%. The tech heavy Nasdaq on the other hand gained 0.5%. There seemed...

BondEvalue

China Everbright Bank – Credit Remains Troublesome

CHINA EVERBRIGHT BANK: Operating results grew 27.4% QOQ, driven by positive operating jaws. Credit continues to weaken and the loss reserve...

Thomas J. Monaco

Everbright Launches $ Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers

The risk-on risk-off (RORO) sentiment continues as US equities fell again on Wednesday with the S&P down 1.3% and Nasdaq down 2.7% falling just...

BondEvalue

Asia Short Interest - Friday the 13th Edition

In keeping with the day of the week and date, we look at some charts of short interest and price for stocks from Korea, Taiwan and Hong Kong.These...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)