An honorable member of the Coffee Shop Has Just Posted the Following:
The rightmost column shows the credit spread over US Treasuries yield that investors require for them to hold Temasek bonds. The longer the remaining tenor, the higher the credit spread that investors require. This means for the longer-dated TEMASE’39 and TEMASE’42 bonds, the market is requiring them to offer additional yield of 113bp and 119bp respectively over the US Treasury yield. Incidentally, the US government is rated AA+ by S&P – one notch lower than Temasek.
But what is more alarming is that the credit spread that global investors demand for holding Temasek bonds is comparable to what the market demands for holding USD bonds issued by the Philippines Government.
http://www.tremeritus.com/2015/02/15...overeign-debt/
Click here to view the whole thread at www.sammyboy.com.
15-02-2015, 03:30 PM
Don't laugh - Temasek bonds as risky as Philippines sovereign debt
