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 dropped even as labor markets and earnings signaled a recovery. Initial jobless claims for the week ending July 10 stood at 360k, the lowest since the onset of the pandemic. These were under the 400k mark for the third week in a row but slightly higher than the expectation of 350k. S&amp;P posted a loss of 0.3% while Nasdaq slid 0.7%. Morgan Stanley joined peers beating earnings expectations (details below). Energy, IT and Consumer Discretionary were down 1.4%, 0.8% and 0.6% respectively. Financials and Consumer Staples were up 0.4% each. US 10Y Treasury yields dipped 2bp to 1.32%. European indices also closed in deep red – FTSE, DAX and CAC were down ~ 1% each. US IG and HY CDS spreads widened 0.8bp and 4.4bp respectively. EU main and crossover CDS spreads widened 0.6bp and 3.8bp respectively. Brazil’s Bovespa was up 0.7%. Saudi TASI was up 0.2% while  Abu Dhabi’s ADX was down 0.2%. Asian markets mixed. Chinese growth was slightly lower than expected due to higher raw material costs and Covid-19 outbreaks. GDP expanded 7.9% YoY for the Apr-Jun quarter vs expectations 8.1% and vs 8.3% in the previous quarter. Nikkei is down 1.1%, Shanghai and HSI are down 0.2%  while Singapore’s STI is up 0.1%. Asia ex-Japan CDS spreads were 1.7bp wider.

Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers

Asia High Yield Bond Index

Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers