THE local bond market is ending the year with a whimper- assail with tensions over up and coming financing cost climbs and vulnerability over the approaching strategies of the following US president.
With issuance down 15 for every penny in the initial 11 months of the year over the initial 11 months of a year ago, the entire year volume may end up being the slowest since the decade started.
Returns are off their highs, however haven't been half terrible, in spite of the fact that this may not be clear from news about the large number of defaults.
New issuances for the initial 11 months of this current year came to S$18.6 billion from 98 issues - down 15 for every penny from the initial 11 months of a year ago, which was S$21.8 billion from 157 issues.
Issuance volume for the entire year a year ago was S$22.8 billion.
The record year was 2012, with S$31.5 billion in issuances; after a year, it had dove to S$19.9 billion.
The SGD security showcase during the current year seems as though it will wind up at near 2013's new-issuance volume of just shy of S$20 billion, said Clifford Lee, DBS Bank's head of settled pay.
He offered 2 primary explanations behind the moderate market: "The credit worry in the SGD security advertise, albeit especially secluded to securities issued by the seaward and marine segment, has seen more hazard avoidance among speculators. The issuance volume of mid-top backers' bonds has correspondingly dropped.
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