Asia's high-yield bonds swing back to life

High-yield issuers are back in force with new US dollar bonds, indicating that secondary market valuations have finally returned to attractive levels for fixed income investors.
Bond investors are more bullish on Asian high-yield
Bond investors are more bullish on Asian high-yield

Asia’s high-yield corporate bond market showed further signs of recovery on Tuesday after three issuers found success with their deals, extending the primary-market revival seen at the end of last year and getting 2019 off to a strong start.

The largest of the trio was property heavyweight China Evergrande Group, which completed a $3 billion tap of its existing two-year, three-year and four-year bonds.

Another Chinese property developer, Central China Real Estate, raised $200 million from a short-dated bond deal, while Mongolian Mortgage secured $250 million from its debut US dollar bond issue.

Perhaps significantly, these were among the weakest performers during...

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