In today’s briefing:
- Lucror Analytics – Morning Views Asia
- EM Spreads – Weekly News & Views
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: SJM Holdings
- UST yields rose on Friday, led by the belly and long end, unwinding part of last week’s yield decline. The yield on the 2Y UST was up 1 bp at 3.56%, while that on the 10Y UST advanced 4 bps to 4.06%.
- Equities held steady near record high levels. The S&P 500 was unchanged at 6,584, while the Nasdaq rose 0.4% to 22,141.
EM Spreads – Weekly News & Views
- Argentina’s election setback hit bonds, peso, and equities, reviving “Kicillof risk” and raising concerns over reform momentum, legislative gridlock, and elevated political risk premia.
- Suzano priced $1bn 2036s inside guidance, highlighting strong demand and proactive liability management, while Pemex’s $9.9bn buyback and Moody’s B1 upgrade underscored sovereign support.
- Markets diverged: LatAm credit widened on Argentine risk, EM and U.S. indices tightened, Argentina’s equities plunged, Brazil and Mexico rallied, oil softened, and U.S. Treasury yields declined.
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