SINGAPORE, Feb 13 (IFR) - Unsurprisingly Asian credit
markets traded out of Singapore were deeply illiquid in the
morning session, with Hong Kong out on Wednesday and China out
for the entire week and many Singapore brokers taking the week
A Singapore trader made a wide 110/115bp bid/offer on the
iTraxx IG index, in reflection of the market's illiquidity.
Still, the emergence of $4.65bn of issuance in the US market
on Tuesday, moreover with Arrow Electronics and National Fuel
Gas managing to price at heavy negative new issue concessions,
will have hearted the Asia DCM community as they look for a
revival of the January issuance jamboree when the Lunar New Year
celebrations come to a close.
The US market is expected to print $15bn this week, which if
it happens, will create a positive tailwind for primary Asian