Asian credit markets are maintaining their recent strong performance, with spreads tightening across the board last week as investors’ hunt for yield continues as US Treasuries hit their lowest level in almost a year.
The yield of 10-year US Treasury note fell to 2.44% last Thursday, the lowest closing level since June 2013. Since then yields have rebounded to 2.5% but are still relatively low compared to the beginning of the year when yields touched...