Is the Singapore-dollar bond market getting frothy?
Stick to strong credits, resist leveraging temptation as one thinks about how long the party can last
LAST week's sterling reception given to HSBC's debut in the local bond market was yet another sign of the liquidity splashing around.
To recap, yield-hungry private- bank and instituitional investors pushed the order books to above S$7 billion for HSBC's maiden S$1 billion 4.7 per cent perpetual issue.
At S$1 billion, it is the largest Singapore dollar (SGD) bond transaction from a corporate or financial institution since 2012.
The S$7 billio…
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