Singapore Bonds

[krafty]

bro run, does that mean yen will weaken further...?

How to reduce national debts - get your central bank to buy your govt debts at negative rates

Tuesday marked another milestone in the topsy-turvy world of monetary easing in Japan: The Bank of Japan bought short-term Japanese government debt at a negative yield for the first time, according to market participants. The BOJ scooped up some of the three-month No. 477 Treasury bill, which has traded at a negative yield for the past two trading days amid strong demand, the market participants said.
http://blogs.wsj.com/japanrealtime/2014/09/09/bank-of-japan-buys-government-debt-at-negative-yield


Indeed an outstanding prudent central banker who took opportunity of the current debt bubble madness. RUN salutes you.

 

[Runifyouhaveto]

Lowering the bar for investors keen on bonds
http://business.asiaone.com/news/lowering-the-bar-investors-keen-bonds

one concern voiced by traders is whether MAS has set the bar too high in its regulatory overhaul of the bond market, making it impossible for all but the highest-grade bonds to reach retail investors. That means that the payout on such bonds may not be much higher than, say, the 2.35 per cent coupon which a 10-year Singapore Government bond enjoys.

Take, for example, OCBC Bank. When it tapped the market in 2008 for $1 billion by issuing preference shares that offered a 5.1 per cent coupon, it managed to attract more than $4 billion in subscription monies from retail investors in just 24 hours, even though the global financial crisis was then at its height.

 

[Runifyouhaveto]

bro run, does that mean yen will weaken further...?

It doesn't hint to FX gain or weakness.

in fact, group of buyers of negative-rates German and Japanese bonds are currency speculators who are betting on Euro or JPY upside. The yields may be very low or negative but the currency that the bond was denominated could have appreciated against your base currency (eg. SGD for singaporeans) when it matures..

 

[krafty]

why'd they do that if they get -ve yield base currency and +ve for base currency they are buying, is base currency the bond that is denominated? thxs...

It doesn't hint to FX gain or weakness.

in fact, group of buyers of negative-rates German and Japanese bonds are currency speculators who are betting on Euro or JPY upside. The yields may be very low or negative but the currency that the bond was denominated could have appreciated against your base currency (eg. SGD for singaporeans) when it matures..

 

[Runifyouhaveto]

why'd they do that if they get -ve yield base currency and +ve for base currency they are buying, is base currency the bond that is denominated? thxs...

the negative yield is due to the bond pricing and it is usually very small

Let's say the negative yield is -0.1%, but JPY gains 10% against SGD a year later, you still make 9.9%

of course, only a small group of people buy bonds for betting currency. Eg. corporate banks need to hold ultra-safe debts like sovereign bonds as part of their regulatory requirements.

 

[Runifyouhaveto]

Scottish Referendum

RUN never own a single govt debt in his life but some thoughts came into my mind.............

In corporate bonds, there are provisions/clauses for "change of ownership" or "change of control", which requires the issuer to redeem back the bonds from bondholders when there is a significant or structural change in ownership.

A Change of Control provision allows for redeeming bonds if there’s a corporate take over or merger. Another mechanism known as a “Poison Put” activates should certain events occur as spelled out in the original bond prospectus.
http://www.forbes.com/sites/investor/2011/07/26/will-your-bonds-get-slammed-in-a-takeover

ok, effectively if Scotland votes for independence = UK split up. Will it constitute a "change of control" for UK govt debts? ie, the shareholders of United kingdom (England, N.Ireland, Wales and Scotland) is now different/reduced? I know it is not so serious but wonder if such provision exists in sovereign debts.

 

[Runifyouhaveto]

Oii, 中秋节快乐

how do you think about wilmar?

below 3 can accumulate not??

i can keep this for long term.....how do u think?

Things not looking good in short-term for palm oil, so you might as well wait.

Palm oil producers face perfect storm
http://www.ft.com/intl/cms/s/0/ec66a358-331f-11e4-b86e-00144feabdc0.html

Malaysia's End-August Palm-Oil Stocks 2.1 Million Tons, Highest in 17 Months
http://www.nasdaq.com/article/malay...lion-tons-highest-in-17-months-20140910-00015

Please buy only after they big crash

 

[krafty]

bro, are you looking at yen now...?

the negative yield is due to the bond pricing and it is usually very small

Let's say the negative yield is -0.1%, but JPY gains 10% against SGD a year later, you still make 9.9%

of course, only a small group of people buy bonds for betting currency. Eg. corporate banks need to hold ultra-safe debts like sovereign bonds as part of their regulatory requirements.

 

[Runifyouhaveto]

bro, are you looking at yen now...?

No brother. Nikkei Futures and JPY FX trades are too exciting for RUN
my heart cannot take it.

 

[Runifyouhaveto]

the purchase of Wing Hang is just a national-service, not a very wise commercial decision. Wing Hang is a burden to OCBC due to the acquisition premium write-offs and future doubtful debts for HK/China companies.

OCBC's ranking ranking dropped from No.2 to No.13 on world's strongest bank list
http://www.channelnewsasia.com/news/business/singapore-banks-top/1355704.html
Thanks and no thanks to Wing Hang

but after the rights issue, the ranking should return to top 10 next year, as capital ratio improved unless there are a lot of doubtful HK and China debts.

 

[SNTCK]

OCBC's ranking ranking dropped from No.2 to No.13 on world's strongest bank list
http://www.channelnewsasia.com/news/business/singapore-banks-top/1355704.html
Thanks and no thanks to Wing Hang

but after the rights issue, the ranking should return to top 10 next year, as capital ratio improved unless there are a lot of doubtful HK and China debts.

now i know why you keep asking me shift to UOB.

 

[Runifyouhaveto]

now i know why you keep asking me shift to UOB.

ok lah, don't everyday think about shares.
can sleep more, rest more, surf some porn, watch some movies
enjoy life when u are still young

stock market not your lover lah.

 

[Runifyouhaveto]

Interesting International Bank bonds (not listed in Singapore) tonight

Emirates - National Bank of Dubai (Emirates NBD) - USD Perp Bond 6.375%
HSBC - USD AT1 Coco Bonds 5.75% to 6.75% (10 years to 20 years Non-callable)
Comparison: Bank of India Rupee AT1 Coco 11% (last month)

* cocobonds are ultra risky bonds which will auto convert to equities in the event that losses cause Tier-1 capital ratio to drop below certain level (eg. 7% for HSBC, 5.5% for Bank of India)

 

[Runifyouhaveto]

Re: Interesting Bond issues

Jasper warns of potential default of US$165m senior bonds

THE board of Jasper Investments Limited yesterday warned of the potential breach of financial obligations under the five-year US$165 million senior secured bonds issued by its subsidiary Jasper Explorer plc.

Jasper Explorer - whose vessel has not generated any revenue since coming off-hire at the end of February - had asked for a waiver of the maintenance of a minimum liquidity by Jasper Offshore (Cyprus) Ltd and its subsidiaries of at least US$10 million, and for the extension of the due date of the payment to the bondholders of an aggregate US$11.1 million in interest, due Nov 27.

http://www.businesstimes.com.sg/pre...otential-default-us165m-senior-bonds-20140823

Update: No insolvency proceedings for Jasper Investments over bond payments
Nordic Trustee ASA said that for these subsidiaries - Jasper Explorer, Jasper Offshore (Cyprus) Ltd, Jasper Explorer Pte Ltd and Jasper Drilling Pte Ltd - to continue operating as "going concerns", they must keep the trustee, the bondholders and their legal counsel informed and consult them regarding all reasonably important business developments, and "shall continue to engage in a constructive dialogue in order to pursue a settlement or restructuring of the bonds".
http://www.businesstimes.com.sg/bre...asper-investments-over-bond-payments-20140911




insolvent but still allowed to operate + settle/restructure the bonds eventually.

 

[Runifyouhaveto]

Sembcorp Marine on Wednesday said that it would invest S$222 million in a new steel fabrication facility. It has also begun construction of Phase II of its integrated yard, which would add three dry docks to its existing four VLCC (very large crude carrier) docks by the first quarter of 2017. It will issue S$600 million of bonds to fund these.

http://www.businesstimes.com.sg/bre...ng-cuts-target-price-sembcorp-marine-20140911

 

[SNTCK]

Sembcorp Marine on Wednesday said that it would invest S$222 million in a new steel fabrication facility. It has also begun construction of Phase II of its integrated yard, which would add three dry docks to its existing four VLCC (very large crude carrier) docks by the first quarter of 2017. It will issue S$600 million of bonds to fund these.

http://www.businesstimes.com.sg/bre...ng-cuts-target-price-sembcorp-marine-20140911

ok, i want to buy semb marine if drop to 3.50

 

[Runifyouhaveto]

ok, i want to buy semb marine if drop to 3.50

good meh? a few years ago their Jurong Shipyard was in a mess
http://www.globmaritime.com/news/shipbuilding-a-repair/7949-sembcorp-marine-sues-societe-generale

i dunno about shares lah. if the bond >5% then i consider.

 

[SNTCK]

good meh? a few years ago their Jurong Shipyard was in a mess
http://www.globmaritime.com/news/shipbuilding-a-repair/7949-sembcorp-marine-sues-societe-generale

i dunno about shares lah. if the bond >5% then i consider.

well, need 250k leh, u thought i print money? so much money, i where got.

stupid

even i buy, also just buy 10 lot or maximum 15 lot.

 

[SNTCK]

Krafty.
Semb marine can buy?
RSI 30. 52 week low.

 

[krafty]

i didn;t see the chart but yes, can buy...

https://sg.finance.yahoo.com/news/stocks-focus-sg-lian-beng-023739295.html

Krafty.
Semb marine can buy?
RSI 30. 52 week low.