External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Credit

<ul>
<li>HK corps have performed well since Nov’22, in line with the sharp rebound of the market.</li>
<li>Like peers in other space, the conviction of HK corps is lower at current valuation.</li>
<li>Nonetheless, we still see value in selected HK perps of which coupon will be reset and/or step-up upon the first call dates and issuers can access various funding channels. </li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


HK corps have performed well since Nov’22, in line with the sharp rebound of the market.
Like peers in other space, the conviction of HK corps is lower at current valuation.
Nonetheless, we still see value in selected HK perps of which coupon will be reset and/or step-up upon the first call dates and issuers can access various funding channels. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

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

US markets snapped a three week winning streak after the S&amp;P and Nasdaq fell 0.8% each on Friday, ending the week 1% and 1.9% lower respectively after briefly touching records during the week. Upbeat earnings seemed to be overshadowed by weakness in consumer sentiment – the Michigan consumer sentiment index  came in lower than expectations at 80.8 for the first half of July vs. 85.5 last month. Consumers expect prices to increase 4.8% in the next year, the highest since August 2008. Energy, down 2.8%, led the losses followed by Financials, Consumer Discretionary and IT, down 1.3%, 0.8% and 0.6% respectively. US 10Y Treasury yields dipped 4bp to 1.28%, trending against forecasts. European indices also ended another day in the red with a surge in Delta variant cases even as the inflation cooled to 1.9% in June from 2% in May – the DAX, CAC and FTSE were down 0.6%, 0.5% and 0.1% respectively. US IG CDS spreads widened 0.7bp and HY widened 3.5bp. EU Main spreads widened 0.2bp and Crossover spreads widened 1bp. Brazil’s Bovespa was down 1.2%. In the Gulf, OPEC+ clinched a deal to phase out oil production cuts by September 2022. Saudi TASI was up 0.2% while Abu Dhabi’s ADX was broadly flat. Asian markets followed the cue from the US markets. HSI, Nikkei, Singapore’s STI and  Shanghai were down 2%, 1.5%, 1% and 0.7%. Asia ex-Japan CDS spreads were 0.7bp tighter.

ICBC, Redco, Road King Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

Hong Kong

Road King Infrastructure Limited is a property developer. The Company develops residential apartments as well as invests in and operates toll roads. Road King Infrastructure operates its businesses in the People's Republic of China.

Road King Infrastructure (1098 HK)

HK corps: Prefer perps for yield pick-up

HK corps have performed well since Nov’22, in line with the sharp rebound of the market. Like peers in other space, the conviction of HK corps is...

CMB International

ICBC, Redco, Road King Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainer...

US markets snapped a three week winning streak after the S&P and Nasdaq fell 0.8% each on Friday, ending the week 1% and 1.9% lower...

BondEvalue