Hong Kong’s 3-month benchmark interbank loan interest rate HIBOR is trading close to its highest level since the 2008 financial crisis, putting pressure on an already sluggish syndicated loan market.
Loan volumes fell to a record low of $4.6 billion across 15 deals in the second quarter of the year
a 67% decrease on the previous quarter. And there is no respite in sight, according to financial data provider Dealogic.
HIBOR peaked on July 5 at 2.65%, before dipping briefly to 2.2% later in the month. The rate has since risen again to top 2.29% on August 8.
US Fed policy shifts...
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