Rounding up top reads from around the web, including articles shared by fellow investors in the
Financial Horse Facebook Group.
UOB has sold the first negative-yielding bond out of Singapore, and market watchers say it won’t be the last from the Singapore banks. The bank priced one billion euros (S$1.6 billion) of seven-year covered bonds at 0.01 per cent. The reoffer spread of 17 basis points above the mid-swap – a reference point – equates to a reoffer yield of -0.21 per cent. A negative bond yield is when an investor receives less money at the bond’s maturity than the original purchase price. Covered bonds are debt issued by banks, secured by a pool of assets, typically mortgages.
A spurt of missed debt repayments by three Chinese state-owned firms...