This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Mirae Asset, iFAST, SMFG Launch Bonds
February 24, 2026
US Treasury yields moved lower by 3-5bp amid a risk-off sentiment. Analysts cited the increase in tariffs by US President Donald Trump over the weekend along with AI-related concerns. Separately, crude oil prices continued to stay at a six-month high, ahead of a third round of nuclear talks between the US and Iran.
Looking at US equity markets, the S&P and Nasdaq ended lower by 1-1.1%. US IG CDS spreads widened by 1.1bp and HY CDS spreads were 7.1bp wider. European equity indices ended lower too. The iTraxx Main CDS spreads were 0.7bp wider and the Crossover CDS spreads were 2.2bp wider. Asian equity markets have opened broadly lower this morning, following the global bourses. Asia ex-Japan CDS spreads widened by 0.6bp.
New Bond Issues
- Mirae Asset $ 3Y/5Y at T+110/T+115bp areas
- iFAST S$ 5Y at 3% area
- SMFG $ 15NC10 at T+160bp area
BBVA raised $2.5bn via a three-trancher. It raised:
- $1bn via a 3Y bond at a yield of 4.15%, 30bp inside initial guidance of T+100bp area
- $500mn via a 3Y FRN at SOFR+88bp vs. initial guidance of SOFR equivalent
- $1bn via a 10Y bond at a yield of 5.127%, 25bp inside initial guidance of T+135bp area
The senior non-preferred notes are rated Baa1/A-/A-.
Edison International raised $550mn via a 5Y bond at a yield of 4.836%, 25bp inside initial guidance of T+150bp area. The senior unsecured note is rated Baa2/BB+/BBB. Proceeds will be used to repay commercial paper and for general corporate purposes.
Abbott raised $20bn via an eight-tranche deal.
The senior unsecured notes are rated Aa3/AA-. Proceeds will be used to fund its acquisition of Exact Sciences, to repay certain debt of Exact Sciences, pay related fees and expenses, and for general corporate purposes.
New Bonds Pipeline
- Government of Mongolia $ 6Y bond
- CBQ $ PerpNC5.5 AT1 bond
- Indonesia € 8Y/12Y/20Y bonds
Rating Changes
- Axtel S.A.B. de C.V. Upgraded To ‘BB’ On Lower Leverage And Higher Revenue; Outlook Stable
- Fitch Downgrades Bahrain to ‘B’; Outlook Stable
- Metinvest B.V. Downgraded To ‘CCC-‘ From ‘CCC+’ On Elevated Refinancing Risk; Outlook Negative
- Ashland Inc. Downgraded To ‘BB’ On Business Risk Reassessment And Weaker Credit Metrics; Outlook Stable
Term of the Day: Negative Lien
A negative lien is a written undertaking by a borrower promising not to pledge, sell, or create any new encumbrances on their assets without the lender’s prior consent. These are typically framed as part of loan agreements to ensure that a borrower’s assets remain free from other creditors, helping protect the lender’s position.
Talking Heads
On Bonds Rallying amid Trump Tariffs and Stock Selloff
Priya Misra, JPMorgan Chase & Co.
“The heightened uncertainty about trade over the last few days is responsible for the risk off move in equities and safe-haven move in Treasuries”
Gennadiy Goldberg, TD Securities
“One of the key reasons rates markets were worried is because of lost tariff collections and refunds”
Subadra Rajappa, head of US research at SocGen
“The data has been relatively strong, but uncertainty is rising on many fronts”
On Going Long Japanese Debt for the First Time in Decades – Vincent Mortier, CIO at Amundi
“This is the first time in 30 years that we are liking JGBs… We have clarity on policymaking after the election… If JGB rates were to drift higher, we are pretty convinced it would trigger some interest from buyers… For the first time, it’s more interesting for Japanese investors to buy JGBs than to buy foreign bonds “
On ECB Must Be Agile When Setting Interest Rates – Christine Lagarde, ECB President
“We have to assess whether we are in that good place that I’m characterizing now… we have to be agile and determine whether something needs to be done”
Top Gainers and Losers- 24-Feb-26*
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.