How are prospects for Fixed Income in Asia?
IB
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(Monkey, 47
Points)
on 4/4/09 at 4:48pm
I know FI is pretty much dead in US and Europe, but both now and in the near future, is Asia any better? How are the Asian credit markets?
Help appreciated.
Thanks!





I think the first ever debt
I think the first ever debt offering this year came out of Asia. I might be wrong... :)
One word... it's called league tables
FI is far from "dead" in the US/Europe...
Investment grade issuances dominate the debt market, and high yield issuances are better than last year. Compared to 1Q08, debt underwriting is up almost 25%.
A major portion of this increase is due to TLGP, so FIG groups in DCM amongst banks are having record number of deals.
Now with that said, even in the Asian markets - Governments and agencies capture over 50% of the deb offerings. If you're looking for deal flow, getting in a team that works with these groups will make your experience a lot better.