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(Bloomberg) -- A hawkish pivot by the Indian central bank has money managers scurrying to find safer bets while bracing for potentially the steepest rate hikes in Asia. The yield spread between three-year government papers and similar top-rated company bonds had turned negative in April from around 87 basis points in August, according to Bloomberg data. Yields have risen, and stocks pared gains since the Reserve Bank of India shifted focus to inflation from growth in April and indirectly tightened policy by introducing a higher floor interest rate. [Extracted from the article]

According to a white paper published by KKR & Co., Asia's credit markets present attractive investment opportunities due to strong demand for financing, undervalued assets, and high-quality issuers in the region. The recent defaults among Chinese property developers have reset asset prices, making them more appealing compared to similar deals in the US and Europe. The demand for financing in Asia exceeds supply, as banks have tightened lending criteria and investor support has been subdued. KKR believes this trend will continue or even intensify in the future. With a significant amount of high-yield debt maturing in the next few years, there is ample opportunity for players in both private and broadly syndicated markets. KKR also sees potential in select sectors in China, such as large technology firms with positive net cash flows and investment-grade insurers. Additionally, issuers in Hong Kong with offshore assets and limited exposure to China may have upside potential. The Asia-Pacific region's share of the global private credit market is growing rapidly, attracting investors with higher rates of return. KKR highlights that Asia's economic outlook is gaining momentum post-pandemic, particularly in business travel and tourism. The potential rate cut by the US Federal Reserve later this year is expected to further support growth in the region. [Extracted from the article]

The yield spread between three-year government papers and similar top-rated company bonds had turned negative in April from around 87 basis points in August, according to Bloomberg data. (Bloomberg) -- A hawkish pivot by the Indian central bank has money managers scurrying to find safer bets while bracing for potentially the steepest rate hikes in Asia. Yields have risen, and stocks pared gains since the Reserve Bank of India shifted focus to inflation from growth in April and indirectly tightened policy by introducing a higher floor interest rate. [Extracted from the article]

(Bloomberg) -- Hong Kong is set to announce that retail investors can trade crypto under its new rulebook for the sector, stepping up a push to develop a hub even as digital-asset firms and regulators clash elsewhere in Asia. Hong Kong in February outlined in its consultation paper a plan to let individual investors trade larger coins on exchanges licensed by the SFC. [Extracted from the article]

Traditional hedge funds are showing renewed interest in shorting Tether, a stablecoin that is widely used in the cryptocurrency market. Shorting Tether involves borrowing the stablecoin and selling it, with the hope of buying it back at a lower price and profiting from the difference. However, shorting Tether has proven challenging due to its role in facilitating trades in the crypto market and its status as the most traded cryptocurrency. There are opposing views on Tether, with some traditional finance investors expressing concerns about its risk profile, while crypto-natives, particularly in Asia, view it as a settlement payment. Shorting Tether is seen as an asymmetry trade by traditional firms, with limited downside and unlimited upside potential. Tether's reserves are said to be backed by cash and cash equivalents, short-term deposits, and commercial paper, with 53% of the reserves being commercial paper. Shorting Tether has been attempted in the past, but it has proven difficult to profit from due to the nature of the market. Tether is often traded at a premium during times of volatility, and buying Tether put options can be expensive and challenging. [Extracted from the article]

Traditional hedge funds are showing renewed interest in shorting Tether, a stablecoin that is widely used in the cryptocurrency market. Shorting Tether involves borrowing the stablecoin and selling it, with the hope of buying it back at a lower price and profiting from the difference. However, shorting Tether has proven challenging due to its role in facilitating trades in the crypto market and its status as the most traded cryptocurrency. There are opposing views on Tether, with some traditional finance investors expressing concerns about its risk profile, while crypto-natives, particularly in Asia, view it as a settlement payment. Shorting Tether is seen as an asymmetrical trade by traditional firms, with limited downside risk and unlimited upside potential. Tether's reserves are said to be backed by cash and cash equivalents, short-term deposits, and commercial paper, with 53% of the reserves being commercial paper. Shorting Tether has been attempted in the past, but it has proven difficult to profit from due to the nature of the market. Tether is often traded at a premium during times of volatility, and buying Tether put options can be expensive and challenging. [Extracted from the article]

The fund's liquidators have accused the two founders of failing to cooperate with their efforts, court papers show, a characterization Zhu challenged on Twitter. Keywords: 0572731D; ALLTOP; ASIA; BUSINESS; COS; FIN; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; US; WORLD; WWTOP; WWTOPAS EN 0572731D ALLTOP ASIA BUSINESS COS FIN INDUSTRIES MARKETS NORTHAM TEC TECSVC US WORLD WWTOP WWTOPAS RH62F3T0AFBR In the affidavit, Zhu accused the liquidators of misleading the High Court of Singapore about the hedge fund's structure. [Extracted from the article]

Keywords: 0572731D; ALLTOP; ASIA; BUSINESS; COS; FIN; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 0572731D ALLTOP ASIA BUSINESS COS FIN INDUSTRIES MARKETS NORTHAM TEC TECSVC TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH7MR7T0G1L3 In the affidavit, Zhu accused the liquidators of misleading the High Court of Singapore about the hedge fund's structure. The fund's liquidators have accused the two founders of failing to cooperate with their efforts, court papers show, a characterization Zhu challenged on Twitter. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CONS; CONSS; COS; GOV; INDUSTRIES; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BUSINESS CONS CONSS COS GOV INDUSTRIES WORLD WWTOP WWTOPAS Malaysia is likely to hold a general election this year, according to the head of the largest party in the ruling Barisan Nasional alliance, the Star newspaper and other local media reported. Ahmad Zahid Hamidi, president of the United Malays National Organization, said Ismail might have a different reading about the election date but he would definitely have to consult with UMNO's top leaders, the paper said. [Extracted from the article]

Keywords: 000750@CH; 000783@CH; 3908@HK; ASIA; BON; BUSINESS; CHINA; COS; CST; FIN; GOV; INDUSTRIAL; INDUSTRIES; MARKETS; REL; WORLD EN 000750@CH 000783@CH 3908@HK ASIA BON BUSINESS CHINA COS CST FIN GOV INDUSTRIAL INDUSTRIES MARKETS REL WORLD (Bloomberg) -- Chinese banks are scaling back loans to each other in a sign that they are likely lending more to companies and households as they tend to do at the start of each year. That rate fell to near zero levels last month as banks vied to lend money to each other to meet government quotas, and rising rates may indicate that financial institutions are now making more actual loans instead. [Extracted from the article]

Keywords: 000750@CH; 000783@CH; 3908@HK; ALLTOP; ASIA; ASIATOP; BON; BUSINESS; CHINA; COS; CST; ECOTOP; FIN; GOV; INDUSTRIAL; INDUSTRIES; MARKETS; REL; WORLD; WWTOP; WWTOPEU EN 000750@CH 000783@CH 3908@HK ALLTOP ASIA ASIATOP BON BUSINESS CHINA COS CST ECOTOP FIN GOV INDUSTRIAL INDUSTRIES MARKETS REL WORLD WWTOP WWTOPEU (Bloomberg) -- Chinese banks are scaling back loans to each other in a sign that they are likely lending more to companies and households as they tend to do at the start of each year. That rate fell to near zero levels last month as banks vied to lend money to each other to meet government quotas, and rising rates may indicate that financial institutions are now making more actual loans instead. [Extracted from the article]

Keywords: 1813@HK; 2007@HK; 3333@HK; 3908@HK; ALLTOP; ASIA; BNK; BON; BUSINESS; CHINA; COS; FIN; FRX; GLOBALMACR; HK; INDUSTRIES; MARKETS; REL; STK; WORLD; WWTOP EN 1813@HK 2007@HK 3333@HK 3908@HK ALLTOP ASIA BNK BON BUSINESS CHINA COS FIN FRX GLOBALMACR HK INDUSTRIES MARKETS REL STK WORLD WWTOP Country Garden Holdings Co., China's largest developer by sales, is raising HK$3.9 billion ($500 million) in a convertible bond sale to refinance offshore debt coming due within a year. Country Garden Sells $500 Million Convertible Bond (9:07 a.m. HK) Country Garden's convertible bond sale comes amid a spreading crisis in the real estate sector. R61CC2DWRGJE (Bloomberg) -- Country Garden Holdings Co., China's largest developer by sales, is raising HK$3.9 billion ($500 million) in a convertible bond sale to refinance offshore debt coming due within a year. [Extracted from the article]

Keywords: AGR; ALTNRG; ASIA; BUSINESS; CLIMATE; CMD; CONS; CONSS; COS; GEN; INDUSTRIES; MARKETS; NRG; SCIENCE; WORLD EN AGR ALTNRG ASIA BUSINESS CLIMATE CMD CONS CONSS COS GEN INDUSTRIES MARKETS NRG SCIENCE WORLD A new way to analyze how microbes live creates opportunity for breakthroughs in health and agriculture R54RWBDWRGG0 (Bloomberg) -- A cup of tea in 2006 changed genetic engineering forever. The discovery heralded a new era of genomics that is revolutionizing science and multiple industries and earned Doudna half the 2020 Nobel Prize in chemistry. [Extracted from the article]

Indian bonds are performing well compared to other Asian bonds despite fluctuations in US Treasuries. This makes Indian debt more attractive to investors, especially with its upcoming inclusion in major global indexes. Factors such as fiscal prudence, rupee stability, and positive domestic developments are contributing to the stability of Indian bonds. Additionally, India's foreign-exchange reserves are at a record high, and the rupee is the best-performing currency in emerging Asia. The government's reform programs and the possibility of Prime Minister Narendra Modi winning a third term are also boosting the appeal of Indian assets. [Extracted from the article]

Simon Sadler, the founder of Segantii Capital Management Ltd., a hedge fund based in Hong Kong, has been accused of insider trading along with one of its veteran traders. The allegations have raised questions about the firm's operations and how banks and clients will react. Some banks are reviewing their ties with Segantii, while others have decided to dial back dealings with the fund. Sadler and the trader appeared in court and did not enter a plea. The maximum penalties for insider dealing in Hong Kong are a fine of HK$10 million ($1.3 million) and 10 years' jail time. [Extracted from the article]

81074Z@PM, CEB@PM, PAL@PM, ALLTOP, ASIA, CMD, GEN, GENTOP, GOV, WORLD, WWTOP, WWTOPAS Keywords: 81074Z@PM; CEB@PM; PAL@PM; ALLTOP; ASIA; CMD; GEN; GENTOP; GOV; WORLD; WWTOP; WWTOPAS EN 81074Z@PM CEB@PM PAL@PM ALLTOP ASIA CMD GEN GENTOP GOV WORLD WWTOP WWTOPAS Typhoon Rai killed at least 1 person in the Philippines, while forcing 330,000 to flee their homes and leaving many more without electricity, authorities said. [Extracted from the article]

Japanese shares have outperformed other Asian markets, with the Topix index reaching its highest level in 34 years. The Nikkei 225 also reached its highest level since 1990. This strong performance is attributed to a weaker yen, falling bond yields, and bullish investor sentiment. Japanese shares were among the world's best performers in 2023, driven by improved shareholder value, the end of deflation, and a weak yen. However, potential headwinds for Japanese equities include possible changes to the Bank of Japan's monetary policy and yen appreciation. The electric appliances sector was the biggest contributor to gains in the Topix index. Some investors may be turning to Japan due to geopolitical and regulatory uncertainties in China and Taiwan. Wage data showing a slowdown in growth may influence the Bank of Japan's policy decisions. [Extracted from the article]

(Bloomberg) -- Asian diesel prices climbed on Friday after Russia's surprise export ban, even as a host of market watchers predicted that the curb wouldn't remain in place for very long. The export curb imposed by Moscow is the latest jolt suffered by energy markets since Russia's invasion of Ukraine in 2022 upended worldwide crude and product flows. [Extracted from the article]

Steeper Yield Curve Meantime, rate options traders are paying through the nose for protection against further increases in long-maturity Treasury yields. Some of the main moves in markets: Stocks S&P 500 futures rose 0.3% as of 1:30 p.m. Tokyo time. (Bloomberg) -- Chinese stocks climbed in an otherwise lackluster day for Asian equity markets while Treasuries consolidated ahead of a report on US non-farm payrolls. [Extracted from the article]

Some of the main moves in markets: Stocks S&P 500 futures rose 0.4% as of 10:54 a.m. Tokyo time. (Bloomberg) -- Shares in Asia climbed after an early stumble while a slump in Treasuries weighed on Australian and New Zealand government bonds. [Extracted from the article]

(Bloomberg) -- Investors across Asia earmarked China's ballooning levels of municipal borrowing as the region's number one financial risk this year in a survey that ranked their biggest concerns. In China, a property debt crisis has kept the mortgage-backed debt issuance market effectively shut for almost a year and a half. [Extracted from the article]

The country's newly elected government is looking to introduce fuel-efficiency standards in a win for EV makers. [ABSTRACT FROM AUTHOR]

In the Philippines, lenders and conglomerates are now led by people who were there in 1997 and recall how quickly liquidity dried up when so-called "hot money" fled the country, central bank Governor Felipe Medalla said. Authorities have borrowed lessons from the turmoil in 1997 and even the 2008 global financial crisis that wiped out Southeast Asia's markets and sent their currencies diving, according to Indonesian Finance Minister Sri Mulyani Indrawati, who co-chaired the bloc's meeting. (Bloomberg) -- Hard-earned lessons from the 1997 Asian financial crisis are helping insulate the region from the banking stress being experienced in the US and Europe. [Extracted from the article]

Saudi Arabia sells most of its oil under long-term contracts to Asia, pricing for which is reviewed each month. (Bloomberg) -- Saudi Arabia lowered most oil prices for Asia, in a sign of the regional market weakening with the global economic slowdown. [Extracted from the article]

European authorities are weighing a vaccination campaign for children as young as six, while parts of Asia have moved to relax travel restrictions. The U.S. government's plans to give booster vaccines to a broad population suffered a setback when a panel of experts said the Pfizer Inc. shot should be limited to older and vulnerable people. [Extracted from the article]

European authorities are weighing a vaccination campaign for children as young as six, while parts of Asia have moved to relax travel restrictions. The U.S. government's plans to give booster vaccines to a broad population suffered a setback when a panel of experts said the Pfizer Inc. shot should be limited to older and vulnerable people. [Extracted from the article]

FDA Panel Backs Pfizer Booster for 65 and Up (7:57 a.m. HK) The Covid-19 vaccine booster shot proposed by Pfizer Inc. and BioNTech SE should be given to older Americans and those at high risk, a panel of expert advisers to the U.S. Food and Drug Administration said, rejecting a request for broader distribution. The Covid-19 vaccine booster shot proposed by Pfizer Inc. and BioNTech SE should be given to older Americans and those at high risk, a panel of expert advisers to the U.S. Food and Drug Administration said. [Extracted from the article]

Keywords: ASIA; BON; BUSINESS; CLIMATE; COS; DRG; EUROPE; EXE; FRX; GEN; GLOBALMACR; GOV; HEA; INDUSTRIES; LIFESTYLE; MARKETS; NORTHAM; POL; US; WORLD EN ASIA BON BUSINESS CLIMATE COS DRG EUROPE EXE FRX GEN GLOBALMACR GOV HEA INDUSTRIES LIFESTYLE MARKETS NORTHAM POL US WORLD The turbulence of the pandemic is likely just the curtain-raiser for a coming age of upheaval in the global economy, as climate change and the rise of China upend the established order, according to one of the world's bestselling financial historians. There are deep concerns about the stability of some of the key markets, most notably the Treasury market, and I think there will be an ongoing and very important and interesting discussion. [Extracted from the article]

PAL@PM, ALLTOP, ASIA, BON, BUSINESS, CONS, CONSD, COS, INDUSTRIES, LIFESTYLE, MARKETS, NORTHAM, TOP, TRAVEL, US, WORLD, WWTOP, WWTOPAM, WWTOPAS Keywords: PAL@PM; ALLTOP; ASIA; BON; BUSINESS; CONS; CONSD; COS; INDUSTRIES; LIFESTYLE; MARKETS; NORTHAM; TOP; TRAVEL; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN PAL@PM ALLTOP ASIA BON BUSINESS CONS CONSD COS INDUSTRIES LIFESTYLE MARKETS NORTHAM TOP TRAVEL US WORLD WWTOP WWTOPAM WWTOPAS Philippine Airlines Inc. filed for Chapter 11 bankruptcy in New York with a lender-supported plan that helps the island nation's main carrier recover after the pandemic devastated global travel. [Extracted from the article]