The inversion of the U.S. yield curve may have convinced many market participants that the sky is falling, or at least, a recession is looming, but at least two central bankers are unimpressed.
Bonds and credit
The disruptions and uncertainty central bankers have been dealing with over the past few years have one root cause, said Yellen on Monday.
Former Federal Reserve chief Janet Yellen said on Monday that global central banks don’t have enough bullets in their policy guns to deal with a crisis.
These are Singapore companies which may be in focus on Thursday, 21 March 2019: Frasers Property, Ascendas REIT, Thai Beverage and Yongnam.
Ascendas REIT has issued HK$1.45B 3.57 percent notes due 2029 under its S$5 billion multicurrency medium term note program, the REIT manager said Wednesday.
Frasers Property said Wednesday it secured a S$785M five-year green club loan to refinance loans for the Northpoint City South Wing mall.
These are Singapore companies which may be in focus on Wednesday, 20 March 2019: Singapore Airlines, Oxley, Thai Beverage and Starhill Global REIT.
S&P revised Starhill Global REIT’s ratings outlook to negative Tuesday on the expectation its leverage will be stretched over the next 18 to 24 months.
Singapore Airlines said on Tuesday it would offer S$500 million of bonds due 2024 at 3.03 percent to retail investors in Singapore and institutional and accredited investors.
Global fund managers turned even more skittish on equities in March, but were a bit less bearish on the economy, a Bank of America-ML survey showed.
These are Singapore companies which may be in focus on Tuesday, 19 March 2019: Hyflux, M1, Starhill Global REIT and Mapletree Industrial Trust.
Singapore Airlines said Tuesday it planned to issue S$500 million of five-year fixed-rate bonds under its S$2 billion medium term bond program.
China Jinjiang Environment said on Thursday that S&P Global Ratings has downgraded its issuer rating to BB-minus from BB, with a negative outlook.
These Singapore companies may be in focus on Thursday, 14 March 2019: China Jinjiang Environment, Yanlord, Starhill Global REIT and Reclaims Global.
Singapore Airlines said Thursday it established a S$2B medium-term bond program, which may issue bonds in either Singapore dollars or other currencies.
UOB’s first Panda bond met strong demand, with the three-year 2 billion yuan offering pricing at 3.49 percent, the Singapore bank said on Wednesday.
Moody’s said Wednesday it placed Frasers Centrepoint Trust’s rating on review for downgrade on its deals to acquire a stake in PGIM Real Estate AsiaRetail Fund.
These are Singapore companies which may be in focus on Wednesday, 6 March 2019: Singtel, Hyflux, Raffles Education, CapitaLand and Pine Capital.
Qinghai Provincial Investment said Tuesday it missed the 22 February interest payment on its bonds due in 2020 due to “an internal administrative error.”
Moody’s cut its outlook for Singtel’s A1 rating to negative from stable, pointing to the Singapore telco’s increased leverage and weaker earnings outlook.
These are Singapore companies which may be in focus on Monday, 4 March 2019: Thai Beverage, Ezion, Pine Capital, AA REIT and Singtel.
These are Singapore companies which may be in focus on Friday, 1 March 2019: City Developments, Yangzijiang, Dairy Farm and Halcyon Agri.
These are Singapore companies which may be in focus on Thursday, 27 February 2019: M1, Olam, Yanlord Land, Jardine C&C, Banyan Tree and Sunpower.
CapitaLand said on Wednesday it launched its first discretionary real estate debt fund targeting China’s first and second tier cities after raising US$556M.
These are Singapore companies which may be in focus on Thursday, 21 February 2019: City Developments, Sembcorp Industries, ST Engineering, Keppel and Spackman.