· MYR Credit: MGS space was fairly quiet with mixed yields, while corporate bond space wa

Credit Market Watch: Summary for week ending 26-Aug

·         MYR Credit: MGS space was fairly quiet with mixed yields, while corporate bond space was very active with strong interest in the AA3 space and long dated bonds. Alam Maritim downgraded to BBB+ by MARC.

·         Asian Credit: UST curve softened with the curve bear-flattening and the 10y UST yield up by 5bps WoW to 1.63%. Asian USD credit spreads stayed flat. Honghua downgraded to CCC by Fitch.

·         CDS: EM Asia 5y CDS spreads mostly unchanged.