Asian DCM bankers gear up for tightly priced bonds
Asian dollar debt issuers breathed a sigh of relief this week as spreads tightened in secondary and the market stabilised on Thursday, following a widely expected interest rate hike announcement by the US Federal Reserve. The path is now clear for more aggressively priced bonds in the coming weeks, say market watchers. Morgan Davis reports.
For more than a week now, Asia DCM was in a wait-and-see mode, with slowing new issuance ahead of the Fed meeting on Tuesday and Wednesday, despite the market having priced in a rate rise.
Just three issuers in Asia ex-Japan ventured into the dollar market this week,
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