Safra Sell-side卖方

FSA FI Daily Commentary

Oct 14, 202610 pages页

From the report报告摘录US Rates Flat, EM Bonds & Equities Surge: UST yields unchanged; EM sovereign bonds +2.99% YTD, US equities (S&P +15.06%, NASDAQ +17.77%) and WTI oil +63.35% YTD signal strong risk-on flows and EM outperformance.

Inside the report报告内文 Verbatim from the original PDF — first pages原版 PDF 开篇原文 · 逐字摘录

FSA Fixed Income Daily Commentary 13 October 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 2.99% 0.22% 0.24% 1.47% 4.50% EUR IG -0.89% 0.05% 0.02% -1.73% -0.94% EUR HY -0.37% 0.01% -0.31% -2.32% 0.75% Global Corporate -3.16% -0.01% -0.02% -2.87% -2.42% IG EM Corp Plus -2.38% 0.02% 0.11% -2.54% -1.55% US Corp -2.32% 0.04% 0.29% -2.62% -1.96% EM Ext Debt -2.53% 0.03% 0.07% -3.65% 0.01% Global HY -0.47% 0.01% -0.24% -2.21% 1.65% US High Yield 0.31% 0.06% -0.08% -1.65% 2.35% HY EM Corp Plus 2.19% 0.05% 0.07% -1.68% 4.45% Asian USD InvestGrade -1.94% 0.04% 0.22% -2.23% -1.35% Asian USD HY Corp 3.43% 0.06% 0.07% 0.06% 3.31% USD CoCo liq DevMkt AT1 0.30% 0.15% 0.37% -2.03% 2.15% Dow Jones 9.21% 0.84% 1.17% -1.22% 13.25% S&P 500 15.06% 0.61% 0.45% 3.84% 17.33% NASDAQ 17.77% 0.64% -0.84% 4.57% 19.57% WTI Oil Price 63.35% -0.81% 3.96% -3.09% 56.61% Spot Gold -3.58% -0.18% 0.02% -3.14% 1.33% Spot Silver -16.08% -0.19% -1.95% -4.88% 14.84% ICE Sugar 32.47% 2.96% 0.58% 8.99% 28.70% Source: Bloomberg

FSA Fixed Income Daily Commentary 13 October 2026

NEW RECOMMEN- OLD RECOMMEN- COMPANY TICKER RATING DATION DATION Fosun FOSUNI BB- OP MP CLP Power HK Fin Ltd CHINLP A1/A+ MP MP LVMH MCFP Aa3 / AA- / - MP MP Volkswagen VW Baa1 / BBB+ / A- UP MP Macy's Retail Hldgs M - / BB+ / - MP MP Discovery Global Holdings Inc WBDISC B2 / BB / - MP MP Tencent Hldg TENCNT A1/A+ UP MP Deutsche Post DHLGR A- MP MP FWD Grp Hldg FWDGHD BBB OP OP Lai Sun MTN LASUDE unrated NR MP Jollibee Worldwide Pte Ltd JFCPM unrated MP MP

Top Picks added over the last 4 weeks

Issuer COU- Call Date Maturity M/ S&P Offer YTM YTC ISIN CCY PON LLOYDS BANK- Baa3 / NA / XS /06/2030 PERP GBP ING GROUP PLC BBB 997666 Ba1 / BBB- USF1R1 BNP PARIBAS 4.625 25/02/2031 PERP USD / BBB 5XL357 SOCIETE GEN- Ba2 / BB / USF /11/2029 PERP USD ERALE BB+ 0RAE20 DEUTSCHE Ba2 / BB / XS /04/2030 PERP USD BANK AG BB+ 551474 BBVA BAN- 06/04/2 Baa3 / NA / USP162 COMER SA 8.350 06/10/ USD 042 BB+ AHAA04 TEXAS Source: Bloomberg

2 | FSA Fixed Income Daily focus

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