Singapore
THE Singapore dollar bond market is sizzling - Wednesday's S$500 million bond sale by Commerzbank AG is said to have taken orders approaching S$4 billion as investors clamour for yield.
Bankers say that after a rather tepid start to the year, the market is now seeing a confluence of factors - yield-hungry cash-flush investors and companies seeing the risks of interest rates hikes increasing are happy to deal.
"Perfect weather to print deals," said Clifford Lee, DBS Bank head of fixed income.
Elaborating, Mr Lee said that the market expects the US Federal Reserve to hike interest rates two or three times this year and this has led to investors asking for higher yields while issuers agree...