OCBC credit research

Labelled bonds have accounted for a lower share of global bond volumes this year, averaging 11% across 9M2024, which represents the lowest issuance share since 2020.

Technically, negative divergences have appeared on the STI but no breakdown is likely yet.

“While investors may scrutinise bonds’ sustainability credentials and their impact on performance, the traditional performance drivers of fixed income instruments continue to play a decisive role.”

The Singdollar credit market could remain interesting in this market

Operationally, S-REITs still have to contend with higher cost of debt, lower ICRs despite peak in interest rate cycle

With the rise in interest rates likely to continue into 1H2023, we discuss how S-REITs are contending with this new normal.

OCBC’s analysts offer a snapshot of Singapore’s status on green buildings, green financing, strategies and disclosures.

There's further scope for corporate credit yields to rise.

We feel it is of more benefit to analyse an issuer on a stand-alone basis and understand its own fundamental capacity to repay