Apr
14
Private Bankers Cool on Singapore Bonds
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Issuance in slowest start since 2013 as defaults hit junk debt
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Weaker currency to affect returns for offshore clients: UBS
Private bankers say they are avoiding Singapore’s riskiest bonds as a slowing economy worsens corporate finances and shrinking issuance makes refinancing harder.
Non-bank corporate bond offerings fell 38 percent to S$1.63 billion ($1.2 billion) last quarter from the preceding three months, the slowest start to a year since 2013, data compiled by Bloomberg show. Credit Suisse Private Banking Asia Pacific and CA Indosuez Wealth Management say investors are favoring higher-quality issuers, while UBS AG Wealth Management warns of the prospect of exchange-rate losses on local-currency bonds…
Private Bankers Cool on Singapore Bonds
