Core Insights - The report from DBS indicates that the Asian dollar credit spreads, covering major markets like China, South Korea, India, and Indonesia, are narrowing to the lowest levels since the pandemic [1][2] - The DBS Asia (ex-Japan) Composite Credit Spread Index (DACS) has dropped to approximately 110 basis points, marking a historical low [1] - A significant factor contributing to the narrowing spreads is the limited market supply, despite an expected increase in Asian corporate dollar bond issuance in 2025, which is projected to reach the highest level since 2021 [1] Market Dynamics - The report highlights that the Asian market has shown resilience against changing global trade patterns and tariff barriers [2] - However, there are concerns regarding the high valuations of Asian credit bonds, which are perceived as "slightly elevated" and lack sufficient safety buffer [2]
【环球财经】星展银行：亚洲信用债利差逼近历史低位 警惕估值偏高风险
Xin Hua Cai Jing·2025-11-20 16:59