Halister News

Economic Release Details: {HSGDPAGR Index ECOD} --SIMON LEE

Economic Release Details: {HSGDPAGR Index ECOD} --SIMON LEE

(Bloomberg) -- Richness of Singapore’s Oct. 2021 debt against June 2021 is quite pronounced and normalization to fair value suggests widening of more than 10bps in spread, Deutsche Bank strategist Swapnil Kalbande writes in note dated Feb. 21.

• Monetary Authority of Singapore set to issue new April 2022 note next month, which will replace October 2021 debt as new benchmark 5-year security
  • As such, October 2021 note likely to lose premium it currently commands
• Possibility for MAS to issue October 2021 bond as part of optional “mini-auction” in April
• Sovereign curve to “normalize” after flattening a lot
• Usual players at long end, including insurance companies, are unlikely to be aggressive sellers given duration requirements to match long-term liabilities

(Bloomberg) -- Saudi Aramco selects JPMorgan, HSBC, Morgan Stanley as lead underwriters for its IPO, CNBC reports on Twitter, citing Dow Jones.

• NOTE: Saudi Aramco Said to Weigh Offering Citizens Discounted Shares

(Bloomberg) -- Robert Mead, managing director at Pimco in Sydney, comments in interview with Bloomberg TV.

• Mead says U.S., Australian economies out of sync, making A$ bonds more attractive
• NOTE: Australian Office of Financial Management is selling notes maturing in November 2028. A$20b of demand would be most on record in Australia