Asian corporate credits are oversold: Morgan Stanley

The US investment bank believes that Asian corporate bonds spreads have fallen too far and should rebound due to reduced supply.

  • 21 Sep 2011

Morgan Stanley believes the recent sell-off in Asian corporate bonds is overdone, especially among financial sector bonds.

It expects the financial sector's commitment to cut debts will reduce net supply and hence help tighten the spreads.

The US investment bank says that even lower growth expectations and higher recession ...

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 23,438.27 103 9.46%
2 JPMorgan 22,204.62 91 8.96%
3 HSBC 21,532.30 124 8.69%
4 Deutsche Bank 14,929.24 54 6.02%
5 Standard Chartered Bank 12,864.13 73 5.19%

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5 Bank of America Merrill Lynch 4,270.90 19 7.79%

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3 HSBC 8,280.73 41 8.44%
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5 Standard Chartered Bank 5,686.63 26 5.79%

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1 Bank of America Merrill Lynch 929.36 4 8.03%
2 ING 872.17 7 7.53%
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