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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/

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Saudi Aramco reported a Q3 net income of $30.4bn, up 158% YoY and declared a dividend of $18.8bn to be paid in Q4. The sharp rise in net income was “primarily the result of higher crude oil prices and volumes sold and stronger refining and chemicals margins”. Bloomberg notes that the jump in profits has helped Aramco eclipse Apple to once again become the world’s most profitable firm. Aramco’s free cash flows were at $28.7bn compared to $12.4bn for the same period last year. Aramco’s gearing (Term of the Day, explained below) improved to 17.2% vs. 23% in December 2020 mainly due to higher cash and cash equivalents, driven by higher operating cash flows. Its capex was at $7.6bn in the third quarter, a 19% jump YoY and expects 2021 capex to be ~$35bn.

US equities ended higher with the S&amp;P and Nasdaq up 1% and 1.4% respectively. All sectors were in the green with Real Estate, Consumer Discretionary, Industrials and Financials up 1.2-1.5%. US 10Y Treasury yields inched 2bp higher to 1.57%.   European stocks were mixed with the DAX and FTSE almost flat while CAC was up 0.8%. Brazil’s Bovespa was down 0.6%. In the Middle East, UAE’s ADX was up 0.2% while Saudi TASI was down 0.4%. Asian markets have opened broadly higher – Shanghai, STI and Nikkei were up 0.2% 0.7% and 0.3% while HSI was down 0.5%. US IG and HY CDS spreads were 0.4bp and 1.9bp tighter. EU Main CDS spreads were 0.9bp wider and Crossover CDS spreads were 3.2bp wider. Asia ex-Japan CDS spreads tightened by 0.1bp.

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

US equities ended mixed with the S&amp;P down 0.5% while the Nasdaq was unchanged. Besides Communication Services and Consumer Discretionary, up 1% and 0.2%, other sectors were in the red, dragged by Energy and Financials, down 2.9% and 1.7% respectively. US 10Y Treasury yields eased 7bp to 1.55% with the 2s10s flattening to 102bp, the lowest level in over a month . European stocks were slightly lower with the DAX, CAC and FTSE down 0.3%, 0.2% and 0.3% respectively. Brazil’s Bovespa was near flat. The Brazilian Central Bank hiked rates by 150bp, the biggest in nearly two decades and pledged a similar hike in December in a bid to tame rising inflation. In the Middle East, UAE’s ADX and Saudi TASI were down 0.6% and 0.3%. Asian markets have opened lower – Shanghai, HSI, STI and Nikkei were down 1%, 0.3% 0.3% and 0.9% respectively. US IG and HY CDS spreads were 0.6bp and 3.3bp wider. EU Main CDS spreads were 0.1bp tighter while Crossover CDS spreads were 0.9bp wider. Asia ex-Japan CDS spreads tightened by 0.3bp.

US equities ended lower on Friday, with the S&amp;P and Nasdaq down 0.1% and 0.8%. Sectoral gains were led by Financials, up 1.3% while Communication Services were down 2.3%. US 10Y Treasury yields eased 4bp to 1.64%. European stocks were higher with the DAX, CAC and FTSE up 0.5%, 0.7% and 0.2% respectively. Brazil’s Bovespa was down 1.3%. In the Middle East, UAE’s ADX was up 0.9% while Saudi TASI was down 0.8% on Sunday. Asian markets have opened broadly mixed – HSI and Shanghai were up 0.1% and 0.4% while STI and Nikkei were down 0.1% and 0.8% respectively while Shanghai was down US 0.3%. US IG and CDS spreads were 0.4bp wider and HY CDS spreads were 3.1bp wider. EU Main CDS spreads were 0.3bp wider and Crossover CDS spreads were 3.9bp wider . Asia ex-Japan CDS spreads tightened by 0.3bp.

US equities had a positive day with the S&amp;P up 0.3% and the Nasdaq was up 0.6%. Sectoral gains were led by Consumer Discretionary, up 1.4% while Energy dragged the index, down 1.8%. US 10Y Treasury yields were up 4bp to 1.70%. European stocks were lower with the DAX, CAC and FTSE down 0.3%, 0.3% and 0.5% respectively. Brazil’s Bovespa was down 2.8%. In the Middle East, UAE’s ADX was closed while Saudi TASI was up 0.3%. Asian markets have opened broadly higher –  HSI, STI and Nikkei were up 0.5%, 0.6% and 0.3% respectively while Shanghai was down US 0.3%. US IG and CDS spreads were 0.4bp wider and HY CDS spreads were 3bp wider. EU Main CDS spreads were 0.2bp wider and Crossover CDS spreads were 3.3bp wider . Asia ex-Japan CDS spreads widened by 1bp.

Singapore

iShares Barclays USD Asia High Yield Bond Index ETF is an exchange-traded fund incorporated in Singapore. The Fund seeks to track the performance of the Bloomberg Barclays Capital USD Asia High Yield Bond Index.

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Asia High Yield Bond Index (AHYG SP)

Aramco Reports 2.6x Surge in Q3 Profits

Saudi Aramco reported a Q3 net income of $30.4bn, up 158% YoY and declared a dividend of $18.8bn to be paid in Q4. The sharp rise in net income was...

BondEvalue

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

US equities ended higher with the S&P and Nasdaq up 1% and 1.4% respectively. All sectors were in the green with Real Estate, Consumer...

BondEvalue

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

US equities ended mixed with the S&P down 0.5% while the Nasdaq was unchanged. Besides Communication Services and Consumer Discretionary, up 1%...

BondEvalue

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

US equities ended lower on Friday, with the S&P and Nasdaq down 0.1% and 0.8%. Sectoral gains were led by Financials, up 1.3% while...

BondEvalue

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

US equities had a positive day with the S&P up 0.3% and the Nasdaq was up 0.6%. Sectoral gains were led by Consumer Discretionary, up 1.4%...

BondEvalue

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