FSA FI Daily Commentary

FSA Fixed Income Daily Commentary 10 August 2026

Interest Rates Last Previous Chg Last Previous Chg UST 2 Year Germany 10 Year UST 10 Year Australia 10 Year UST 30 Year China 10 Year UK 10 Year Shanghai 3 Month JGB 10 Year Shanghai 7 Day Repo

Total Return Total Return Total Return Index Total Return YTD 1D 1W 3M Total Return 1Y EM Sovereign Bond 2.60% 0.12% 0.52% 1.03% 4.26% EUR IG 0.81% 0.01% 0.20% 0.46% 1.28% EUR HY 1.96% 0.04% 0.28% 1.24% 3.04% Global Corporate -0.09% 0.18% 0.43% -0.68% 2.08% IG EM Corp Plus 0.03% 0.10% 0.40% -0.41% 2.78% US Corp 0.08% 0.17% 0.36% -0.32% 2.56% EM Ext Debt 1.10% 0.18% 0.58% -0.13% 5.94% Global HY 2.30% 0.18% 0.50% 0.68% 5.30% US High Yield 2.37% 0.17% 0.46% 1.05% 5.55% HY EM Corp Plus 4.50% 0.13% 0.51% 1.10% 8.02% Asian USD InvestGrade 0.01% 0.09% 0.34% -0.62% 2.54% Asian USD HY Corp 4.13% 0.08% 0.55% 1.21% 6.44% USD CoCo liq DevMkt AT1 2.80% 0.07% 0.37% 0.88% 6.57% Dow Jones 13.42% 0.28% 1.61% 9.38% 24.93% S&P 500 14.07% 0.62% 2.07% 6.04% 23.79% NASDAQ 15.22% 1.30% 3.00% 3.58% 26.42% WTI Oil Price 38.12% 0.72% -1.99% 10.37% 28.66% Spot Gold 0.40% -0.11% 6.96% 5.26% 29.75% Spot Silver -11.29% 0.02% 9.28% 6.18% 69.01% ICE Sugar 9.52% 9.38% 12.21% 8.65% -0.90% Source: Bloomberg

FSA Fixed Income Daily Commentary 10 August 2026

NEW RECOMMEN- OLD RECOMMEN- COMPANY TICKER RATING DATION DATION Posco POHANG Baa1/BBB+ UP UP Samvardhana Motherson MSSIN Baa3/BBB- MP MP West China Cement WESCHI B MP MP Goodyear GT B2/B+ UP UP Gilead GILD A3/A- MP MP Commerzbank CMZB SNP Baa1/BBB MP MP Munich Re MUNRE sub A+ MP MP Allianz ALVGR Aa2 MP MP Zurich Insurance ZURNVX Aa3/AA- MP OP Swiss Re SRENVX A1/A+ OP OP Honda HNDA A3/BBB+ UP UP Novelis HNDLIN B1/BB UP UP Axia Energia ELEBRA Ba1 / BB / BB- MP MP Cencosud CENSUD Baa3 / - / BBB MP MP Grupo Nutresa NUTRES Baa3 / - / BB+ MP MP Millicom TIGO Ba3 / - / BB+ MP MP Tupy TUPY - / BB+ / BB- MP MP

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