Fed and ECB moves help drive demand for Asian bonds

Three borrowers came to the market with dollar bonds on Monday night, collectively raising $1.15 billion. Sun Hung Kai Co secured $350 million, while IDBI Bank raised $500 million and Korea Finance Corp $300 million through a tap of its outstanding $500 million 2.25% 2017s.

IDBI attracted a blowout book of $4.5 billion, coming after the Indian government announced reforms late last week and amid tightening credit spreads for the sector, while KoFC attracted $1.4 billion worth of orders.

The bond rush is expected to continue this week, with Bangkok Bank marketing a dual-tranche five-and-a-half and 10-year dollar benchmark to investors on Tuesday, though perhaps at...