In today’s briefing:
- Asian Bond Monitor: Stay A-Float
Asian Bond Monitor: Stay A-Float
- The Fed hiked 25 bps to 3.75-4.00% on 16-Sep as WTI returned near USD100/bbl; we expect Asian USD bond yields to stay elevated and spreads to widen into year-end.
- We keep Asian USD bonds at Neutral at best and advise investors to favor floating rate bonds, Bond Laddering, duration below five years, and swap hedges on fixed rate positions.
- We remain positive on Asian credit fundamentals and list 10 fixed rate picks yielding 7.4-10.8%, led by Avation at +233 bps over B-rated peers; we exclude China property.
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