Czech Republic’s Cetin advances deal; oil meeting on deck; Asian bonds widen; Evraz eyed

By Christine Van Dusen

Atlanta, Nov. 29 – Czech Republic-based Ceska telekomunikacni infrastruktura as (Cetin) advanced a three-tranche deal on Tuesday as some Asian bonds moved wider and investors awaited Wednesday’s meeting of oil producers.

“Only one day left before the OPEC meeting in Vienna, but the agreement on an output freeze or cut still has not been reached,” according to a report from Schildershoven Finance BV. “Volatility in the oil market may increase in coming days, which should impact the EM eurobonds too.”

Against this backdrop, Asian bonds moved wider on Tuesday, with notes from Indonesia adding 25 basis points and China’s widening by about 5 bps.

“Trying to get a read on this market is quite tough at the moment,” a London-based trader said. “With the weaker dollar we have seen some tightening in the EM space over the past few days, but I have to question how much investor buying there has actually been.”

He believes the short base has been taking profits ahead of a data-heavy week, month-end and a lull in headlines.

Taking a look at Russia, Evraz Group SA received some attention on Tuesday on the news that it could sell its Nakhodka port.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.