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Top Reads this Week (29 Nov)
By Financial Horse  •  November 29, 2020
Rounding up top reads from around the web, including articles shared by fellow investors in the Financial Horse Facebook Group.

Negative bond yield arrives in Singapore with UOB’s 1b-euro issue (Business Times)

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.

China’s bond defaults show Beijing’s war on debt is back (Business Times)

A spurt of missed debt repayments by three Chinese state-owned firms...
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By Financial Horse
Financial Horse was founded with a simple goal – To provide high quality financial commentary, in plain English. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse aims to demystify financial investments.
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