CMBI Credit Commentary Fixed Income Daily Market Update 固定收益部市场日报 Trading desk comments 交易台市场观点 Yesterday, the new HOKKEL 30 tightened 3-4bps from T+83 at issuance. The other IG new issues OCBCSP 4.55 35s/BOCAVI 31/JERA 4.544 30 widened 1-2bps, while the new MITSCO 4.398 30 was unchanged. MEITUAs were still impacted by the drastic EBITDA decline in 1H25 and widened 3- 5bps. See below for comments on Meituan's 1H25 results. The other Chinese TMT names BABAs/XIAOMIs/TENCNTs/WBs were unchanged to 2bps wider. C ...