Tag Archives: Yield to Maturity
Asian Fixed Income: Mega 30 in China Versus U.S.
Despite the lackluster performance of Chinese bonds in 2017, the market value tracked by the S&P China Bond Index continued to expand and reached CNY 56.9 trillion (USD 9 trillion) as of Feb. 26, 2018. While it is the world’s third-largest bond market and remains far from the giant U.S. bond market (valued at USD…
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Asian Fixed Income: 2017 Pan Asia Report Card
The S&P Pan Asia Bond Index, which seeks to track local currency bonds in 10 countries and is calculated in USD, reversed its loss in 2016 and delivered a total return of 7.86% in 2017. Meanwhile, its yield-to-maturity widened 123 bps to 4.64% YTD. The S&P Pan Asia Corporate Bond Index outperformed the S&P Pan…
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Asian Fixed Income: Continuing Rally for Indonesian Bonds
Indonesian bonds, as tracked by the S&P Indonesia Bond Index, gained 5.59% YTD as of April 5, 2017. This is a continuation of the strong growth trend observed in 2016, when the index increased 13.7% owing to the Bank Indonesia’s cut in interest rates on six occasions throughout the year. Indonesia has been one of…
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Top Three Questions About Japan’s Bond Market
Question One: How big is Japan’s local currency bond market? How does it compare to China’s bond market? The size of the local currency bond market in Japan (tracked by the S&P Japan Bond Index) stood at JPY 1,154 trillion as of Jan. 27, 2016, which is equivalent to USD 9.7 trillion. It is 1.7…
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Sukuk – Looking Behind the Numbers
The growing popularity of sukuk is reflected in the recent strong index performance.The Dow Jones Sukuk Index delivered a total return of 7.08% year-on-year (Y-o-Y) and 5.26% year-to-date (YTD), as of August 18, 2014. The index’s yield-to-maturity also tightened by 51bps YTD to 2.55%. Noticeably, the yield of the S&P MENA Sukuk Index dropped 55bps…
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The Rise of China’s Corporate Bond Market
The size of the local-currency-denominated corporate bond market in China, as measured by the S&P China Corporate Bond Index, currently stands at CNY 7.58 trillion, representing an expansion by more than 14 times since December 2009. The strong issuance was driven by the country’s robust economic growth and tighter liquidity conditions. The corporate bond sector…
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A Comparison of Two Corporate Bond Markets
The possibility of interest rates remaining low means investors will continue to search for yield while also looking to diversify market exposures. Below we offer a snapshot of two corporate bond landscapes: the U.S. corporate bond market and the Chinese corporate bond market, which has expanded rapidly in recent years. Size Tracked by the S&P…
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