Noble's 2018 notes leading gainers in S-EA junk bond rally

Singapore

ASIA'S beaten-down commodity bonds are now delivering the best returns as raw material prices rebound from 25-year lows.

Noble Group Ltd's 2018 notes returned 37 per cent this month through March 29, leading gainers in junk bonds from South-east Asia, according to a Bank of America Merrill Lynch index. Coal producer PT Indika Energy's 2018 notes gained 27 per cent. Asian non-investment grade notes advanced 3 per cent since Feb 29, while distressed debt in emerging markets rallied 7.2 per cent.