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New SGD Bond Issuance Issuer: Singapore Government Currency: SGD Tenure | Yield 20-Year | 2.55% area First Issuance Date: 3 August 2026 Bond Rating: AAA (Fitch) Ranking: Senior Unsecured Min. / Incremental Size: SGD 200,000 / 1,000 Timing: Today’s business

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New SGD Bond Issuance Issuer: Toyota Motor Finance (Netherlands) B.V. Currency: SGD Tenure | Yield 2-Year | 2.030% First Issuance Date: 28 July 2026 Bond Rating: A+ (S&P Japan) Ranking: Senior Unsecured Min. / Incremental Size: SGD 250,000 / 250,000 Timing: No later than 22 July
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📌 Credit update: All that glitters is gold - Muthoot shines with its 6+% short-medium tenor USD bonds. Muthoot Finance is India's largest gold loan company and one of its largest non-banking financial companies. For investors comfortable with risks associated with gold-price volatility, we think the MUTHIN 6.375% 23Apr2029 Corp (USD) and MUTHIN 6.375% 02Mar2030 Corp (USD) stand out. 🌟 Highlights 🌟 🔹 FY26 likely marks the earnings peak, not a new baseline 🔹 Credit quality improved even as the balance sheet grew rapidly. 🔹 A further gold correction would hit growth and margins before it dents collateral coverage.
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📌 Credit update: Unlocking 5.8% Opportunities from a Leading UK Bank – Lloyds We continue to hold a positive stance. Investors may consider its existing issuances across different currencies, which are yielding in the range of 4.5%–5.8%. 🌟 Highlights 🌟 🔹 Lloyds continues to benefit from structural hedge income and higher consumer activity. 🔹 Asset quality and capital position remain broadly stable, with the non-performing loan ratio declining marginally. 🔹 Liquidity Coverage Ratio and Net Stable Funding Ratio remain well above the regulatory requirement of 100%.
547
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New USD Bond Issuance Issuer: Korea Midland Power Co., LTD. Currency: USD Tenure | Yield 3-Year | CT3+85 bps area (Est. 5.099%) First Issuance Date: 28 July 2026 Ranking: Senior Unsecured Min. / Incremental Size: USD 200,000 / 1,000
537
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📌 Idea of the Week: USD Bond 2H26 Outlook: Lock in Elevated Yields Amid Persistent Inflation and Flattening Curve In this environment, intermediate-to-short-maturity bonds offer the most compelling risk-reward. 🌟 Highlights 🌟 🔹 Labor Market: Surface Resilience Masks Emerging Softness 🔹 Sticky Services Inflation Keeps Price Pressures Well Above the 2% Target 🔹 The Fed Turns Hawkish 🔹 Yield Curve Flattening 🔹 Duration Positioning: Lock in Elevated Yields; Focus on Intermediate-to-Short Maturities 🔹 Maintain Preference for Investment-Grade Corporate Bonds
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New HKD Bond Issuance Issuer: The Toronto-Dominion Bank (TD) Currency: HKD Tenure | Yield 3-Year | HIBOR MS ACT/365 + 80 bps (Est. 4.331%) First Issuance Date: 28 July 2026 Bond Rating: AA- (Fitch) Ranking: Senior Unsecured Min. / Incremental Size: HKD 1,000,000 / 1,000,000 Timing: Today’s business
601
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New USD Bond Issuance Issuer: Hanwha Aerospace Co., Ltd. (“Hanwha Aerospace”) Currency: USD Tenure | Yield 3-Year | CT3+115bps area (Est. 5.365%) First Issuance Date: 27 July 2026 Bond Rating: A- (S&P) Ranking: Senior Unsecured Min. / Incremental Size: US$ 200,000 / 1,000 Timing: Today’s business
511
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📌 Idea of the Week: Global Fixed Income 2H26 Outlook: Finding value in a higher-yield world 🌟 Highlights 🌟 🔹 Global interest rate cycle has turned; Fed remains data-dependent but is clearly leaning toward hikes 🔹 Investment-Grade & High-Yield Bonds: Let carry do the heavy lifting 🔹 USD Bonds: Sticky inflation and a flattening curve favour locking in intermediate yields 🔹 SGD Bonds: Resilient, but remain selective on duration and credit 🔹 MYR Bonds: Favour the middle of the curve amid oil and election risks 🔹 AUD Bonds: Barbell approach as RBA prepares for extended pause 🔹 EM Debt: Neutral to slightly negative stance as attractive carry is mitigated by inflation risks
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📌 Idea of the Week: Australia 2H26 Bond Outlook: Waiting for the Wind to Shift We continue to favour a barbell strategy, preferring both short and longer tenors of the yield curve. We like defensive-natured bonds, with the likes of banks, supermarket operators, and regulated utilities. 🌟 Highlights 🌟 🔹 Sticky Inflation to Keep RBA Cautious 🔹 Housing Market Cooling, Not Collapsing 🔹 Labour Market to Gradually Ease 🔹 Economic Growth Remains Subdued
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📌 New on Bondsupermart Live: 12 Income Opportunities across Tech, Retail, and Global Utilities! Secure yields from global powerhouses like Alphabet, Barclays, and IBM with transparent, dynamic pricing and flexible $1,000 odd-lot minimums across multiple currencies. 🌟 Highlights 🌟 🔹 Bondsupermart Live is a centralised bond marketplace where orders are matched dynamically with other investors. 🔹 We recently added 12 new live issues to Bondsupermart Live – all tradable with live pricing 🔹 Featured issuers include Alphabet, IBM, Broadcom, Dell, Citigroup, PayPal, Barclays, Woolworths, AusNet, PacifiCorp, Rothesay Life, and FIS.
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📌 Idea Of The Week WCT’s New Sukuk Issuance: 4-Year MYR Bonds with IPG of 5.4% We are upgrading our view on WCT from Neutral to Slightly Positive 🌟 Highlights 🌟 🔹 The bonds are unsecured bonds and rated A+ by MARC with positive outlooks. 🔹 WCT has secured three construction contracts worth a combined RM880.3 million in 2026 🔹 The REIT's portfolio of three retail assets continues to record near-full occupancy
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📌 Idea Of The Week Ford Latest Results - Flatting Out on the Way of Recovery, Bond Yield over 5.9%! Ford's US dollar bonds have maturities ranging from 0.4 to 5.6 years, with a net yield to maturity of up to 5.9%, making them suitable for investors seeking stable returns. 🌟 Highlights 🌟 🔹 Ford benefited from strong Blue and Pro businesses, losses on EV narrowed 🔹 Ford constrained by supply chain, but strategic adjustments are kicking in 🔹 Ford’s liquidity remains ample while credit pressure under control 🔹 While Ford's wholesale volume declined, its revenue continued to grow steadily
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📌 New USD Bond Issuance (Retap) Issuer: Woori Bank, Hong Kong Branch Currency: USD Tenure | Initial Price Guidance: 2-Year | 4.53% Ranking: Senior Unsecured First Issuance Date: 20 July 2026 Min. / Incremental Size: USD 100,000 / 100,000
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📌 New USD Bond Issuance Issuer: The African Export-Import Bank Currency: USD Tenure | Initial Price Guidance: 5.5-Year| 6.625% area 10-Year | 7.500% area Bond Rating: BBB+ (S&P) Ranking: Senior Unsecured First Issuance Date: 23 July 2026 Min. / Incremental Size: USD 200,000 / 1,000 Timing: Books open, today's business
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📌 New CNH Bond Issuance Issuer: Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch Currency: CNH Tenure | Initial Price Guidance: 3-Year | 2.20% area Issuer Rating: BBB+ (Fitch) Ranking: Senior Unsecured First Issuance Date: 23 July 2026 Min. / Incremental Size: CNY 1,000,000 / 10,000 Timing: As early as today's business
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📌 Bond Update SGD Bonds 2H26 Outlook: Finding quality yield in an uncertain world We recap what has happened in the SGD bond space for the first 6 months of 2026 and provide our thoughts on how to best position your fixed-income portfolio moving forward. 🌟 Highlights 🌟 🔹 Singapore sovereign bonds – Focus on short-term SG T-bills 🔹 SGD corporate bonds – Source for quality income amidst higher-for-longer inflation 🔹 SGD financial bonds – Value in Tier 2 bank bonds 🔹 SGD non-financial bonds – Opportunities across the 3 to 5-year tenor
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📌 Bond Update GLP Yield Approaches 20%, Is This a High-Yield Opportunity or a Default Trap? This bond is suitable for investors with a higher risk tolerance, whereas more conservative investors would be better advised to await clearer IPO signals before considering any investment. 🌟 Highlights 🌟 🔹 The fixed-maturity “GLPSP 9.750% 20May2028 Corp (USD)” has recovered to around 85–86 but still offers a very attractive net yield to maturity. 🔹 We believe the listing still carries meaningful uncertainty and should not be viewed as a guaranteed event. 🔹 Cash generated from core operations is barely sufficient to cover interest expenses.
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📌 New USD Bond Issuance Issuer: Tata Capital Limited Currency: USD Tenure | Initial Price Guidance: 3.5-Year | CT3 + 140 bps area (Est. 5.700%) Bond Rating: BBB (S&P) Ranking: Senior Unsecured First Issuance Date: 21 July 2026 Min. / Incremental Size: USD 200,000 / 1,000 Timing: Today's business
653
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📌 New USD Bond Issuance Issuer: NongHyup Bank Currency: USD Tenure | Initial Price Guidance: 5-Year | CT5+75bps area (Est. 5.060%) Bond Rating: Aa3 (Moody’s) / A+ (S&P) Ranking: Senior Unsecured First Issuance Date: 23 July 2026 Min. / Incremental Size: USD 200,000 / 1,000 Timing: Today’s business (during NY hours)
583