Asian G3 borrowers on hiatus

There have been zero bond deals from G3 Asia ex-Japan this week due to returning fears of an earlier-than-expected Fed tapering.

There have been zero bond deals from G3 Asia ex-Japan this week as borrowers step back to analyse market conditions, which have been deteriorating and could potentially threaten issuance until year-end.

Fears that the Federal Reserve Fed could reduce the pace of its bond-buying programme sooner-than-expected have emerged once again, with Dennis Lockhart, president of the Atlanta Fed, highlighting in a Bloomberg Radio interview on Tuesday that tapering “could very well take place” in December.

This sent jitters across credit markets, causing US Treasury yields to spike. Ten-year benchmark yields, for example, touched 2.79% on Tuesday the highest since September 18, according to Bloomberg data.

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