Halister News

(Bloomberg) -- South Korean bonds may be seeing inflows as some investors could be recovering part of their position after redemption pressure on local-currency emerging-market debt funds eased, says Lawrence Lai, Asia rates and flow strategist at Standard Chartered.

• Too early to say markets are in risk-on mode although both ETF and active managers are receiving inflows
• Markets remain range bound and investors are unlikely to add risk aggressively, especially real money investors
• Templeton declined to comment on report of its purchase of South Korean debt
• NOTE: Templeton Said to Have Bought 2t Won of Korean Bonds: Infomax

--With assistance from Hooyeon Kim. To contact the reporter on this story: Liau Y-Sing in Kuala Lumpur at yliau@bloomberg.net To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net Patricia Lui

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery

DOWNGRADES

• Janta Land Promoters
  • Term loan cut to D from BBB at ICRA
  • Cites irregularities in debt servicing
• Kirloskar Electric
  • Cash credit cut to D from B+ at Care
  • Cites overdrawals in cash credit limits for more than 30 days
• Sai Shipping
  • Long-term bank facilities cut to D from B+ at Crisil
  • Cites delays in repayment in term loans

UPGRADES

• Jawandsons
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Cites steady revenue growth, stable profitability
• Levita Granito
  • LT bank facilities raised to BB- from B+ at Crisil
  • Cites timely commencement of commercial operations with no major cost overrun for its project
• Maa Kali Alloys
  • LT bank facilities raised to BB- from D at Crisil
  • Cites timely servicing of debt
• Rainbow Children’s Medicare
  • NCDs raised to A+ from A at ICRA
  • Cites significant improvement in operating income

--PAUL GORDON

(Bloomberg) -- Bund futures (RX1) technical levels in focus.

• Daily Trend Bias: Bullish
• Comment: Faces last Fibonacci hurdle of Sept. decline at 162.68; this level guards the September peak at 163.43; daily MACD has leaped to above zero which supports offensive market conditions
  • Resistance: 162.55; 162.68-69; 162.89-95
  • Support: 162.30; 162.15; 162.04; 161.90-82; 161.68
• NOTE: Roll-adjusted by difference in GFUT
• NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Scott Hamilton