Outlook for the week

Key economic releases for the week

• Mon 15 Mar: CH: Industrial Production YTD YoY (10:00AM)
• Tue, 16 Mar: US: Industrial Production MoM (9:15PM)
• Wed, 17 Mar: SG: Electronic Exports YoY (8:30AM), SG: Non-oil Domestic Exports YoY (8:30AM)
• Thu, 18 Mar: US: FOMC Rate Decision (2:00AM)

Last Week Summary

Market volatility subsided on the backdrop of tamed inflation, a decline in jobless claims and President Biden signing the US$1.9tn fiscal package into law. Asia credit market high yield issuers were quiet as investment grade issuers drove the primary bond market this week, covering 96% of the total weekly new issue amount.

• Astrea VI, an indirect subsidiary of Temasek Holdings priced a new series of bonds backed by cash flows from a US$1.5bn portfolio of investment in multiple private equity funds. The 10NC5 US$228mn Class A-2 tranche tightened 37.5bps to price at 3.25% while the 10Y US$130mn Class B tranche tightened 30bps to price at 4.35%.

5 outstanding mandates were announced during the last two weeks.