SG Bonds Weekly – Week 5 February 1, 2021 110
Outlook for the week
Key economic releases for the week
- Mon, 1 Feb: CH: Caixin China PMI Mfg (9:45AM), US: Markit US Manufacturing PMI (10:45PM)
- Tue, 2 Feb: Earnings: ASCENDAS REIT – Aft Mkt, SG: Purchasing Managers Index (9:00PM)
- Thu, 4 Feb: Update: SINGAPORE AIRLINES – Aft Mkt (Business Update)
- Fri, 5 Feb: SG: Retail Sales YoY (1:00PM)
Last Week Summary
In Asia, a multi-year trend continues into 2021 with record setting pace. The Asia G3 bond
market steamrolled through this week’s market volatility to set a new highest issuance volume month on record. January 2021 issuance volume hits USD 68.6bn, surpassing the previous record month(Sept 2020) by USD 14.85bn.
- Global food and agri-business Olam International announced on Wednesday night that it has priced a S$100 million reopening of its 4 per cent fixed rate senior unsecured notes due Feb 24, 2026 via a private placement exercise.
- New issue pipeline remains strong with 6 new mandate outstanding from the ones announced over the fortnight.
About the author
Timothy Ang
Research Analyst
Phillip Securities Research
Timothy covers credit analysis of local and foreign bonds. Previously an equity dealer, he handled equity trade execution and portfolio management. He has presented seminars for organisations such as SIAS, SPH and IRAS, commentated live market updates for 93.8FM, and authored investment articles for the Business Times newspaper. He graduated with a Bachelor of Commerce in Accounting & Finance from the University of Western Australia.