Escalating global trade tensions stop a tentative rally in its tracks, overpowering the positive impact of declining issuance and rebounding Treasuries.
Korea Development Bank's second three-year deal is priced with a coupon rate of 4.2%, in line with initial guidance. UOB, meanwhile, is poised to follow DBS with a covered bond.
Sinopec and Cnooc debt offerings sustain China as the region's biggest issuer, while the Philippines vaults into second place due to a dearth of issuance from Korea and India.