In today’s briefing:
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Morning Views Asia: Indika Energy, Jingrui Holdings, Tata Motors ADR
- Vale Indonesia (INCO IJ) – Solid achievement in 2021
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets were mixed on Monday with the S&P Nasdaq ending 0.2% lower and Nasdaq ending 0.4% higher. Sectoral gains were led by Energy, up 2.6%. European markets were lower – DAX, CAC and FTSE were down 0.7%, 1.4% and 0.4%. US 10Y Treasury yields eased 5bp to 1.85%. Brazil’s Bovespa was closed on account of Carnival holidays. In the Middle East, UAE’s ADX was up 2.2% and Saudi TASI was up 1.4%. Asian markets have opened with a positive bias – Shanghai, STI and Nikkei are up 0.3%, 0.8%, 1.5% and HSI was down 0.1% respectively. US IG CDS spreads widened 1.4bp and HY spreads were 6.1bp wider. EU Main CDS spreads were 3.1bp wider and Crossover CDS spreads were a 12.8bp wider. Asia ex-Japan CDS spreads were 4bp wider.
Morning Views Asia: Indika Energy, Jingrui Holdings, Tata Motors ADR
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
Vale Indonesia (INCO IJ) – Solid achievement in 2021
Solid achievement in 2021
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