Indonesia: Asia High Yield Bond Index and more

US equity markets ended registered another strong day of gains on Friday with the S&P and Nasdaq ending 2.2% and 1.6% higher. All sectors ended in the green, led by Materials and Financial, up 3.2-3.5%. US 10Y Treasury yields eased 5bp on Friday. European markets also rallied sharply – DAX, CAC and FTSE were up 3.6%, 3.7% and 3.9%. Brazil’s Bovespa closed 1.4% higher. In the Middle East, UAE’s ADX was up 0.6% and Saudi TASI was up 1%. Asian markets have opened with a negative bias – Shanghai, HSI, STI and Nikkei are down 0.3%, 1.5%, 2.2% and 0.3% respectively. US IG CDS spreads tightened 2.1bp and HY spreads were 9.9bp tighter. EU Main CDS spreads were 6.5bp tighter and Crossover CDS spreads were a sharp 38bp tighter. Asia ex-Japan CDS spreads were 0.6bp wider.