Asian bond markets re-opened after the summer break on Wednesday with a debut issue for the Shanghai Pudong Development Bank SPDB, plus new deals for the Export-Import Bank of China Chexim and Korea Development Bank.
All three issuers took advantage of two days when market sentiment improved considerably and Chinese investors returned to the market following a four-day break.
The positive tone was demonstrated by the performance of the iTraxx Asia ex-Japan index, which finally started to reverse direction. It tightened by almost 10bp over two days to 133136 at New York's open on Wednesday, although it still has some considerable way to...
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