Indonesia: Asia High Yield Bond Index, Arwana Citramulia, Astra Agro Lestari and more

S&P and Nasdaq dropped sharply again on Thursday as Russia-Ukraine risk-off sentiment hit markets – the indices were down 2.1% and 2.9% respectively. Most sectors were in the red, led by IT, Communication Services and Consumer Discretionary, down over 2.5% each. The US 10Y Treasury yield was down 4bp at 1.99%. European markets were lower with the DAX, CAC and FTSE down 0.7%, 0.3% and 0.9% each. Brazil’s Bovespa closed 1.4% higher. In the Middle East, UAE’s ADX was up 0.1% and Saudi TASI closed 0.2% lower. Asian markets have opened broadly higher with Shanghai, HSI and STI up 0.4%, 0.3% and 0.4% respectively, while Nikkei was down 0.2%. US IG CDS spreads were 2.5bp wider and HY CDS spreads were 10.5bp wider. EU Main CDS spreads were 1.5bp wider and Crossover CDS spreads were 7.7bp wider. Asia ex-Japan CDS spreads were 1.2bp wider.