Singapore Exchange (SGX)

[CityFarmer]

CF,

The bond market is a sucker game and trust me its going to hit the fence for retailers soon.

I stand by my above opinion. I have been warning my buddies who are plying their trade in the high net worth industry to be extremely carefully when peddling the instruments to their clients. The risks are high that a junk bond crisis that has never been heard of is brewing silently in Singapore already. When retailers gain access, I m afraid it will be ITE - another CLOB (where quality of listings are so shitty that there was no real fundamental investments to talk about), S Chip and Junior resources con game that is already under way.

Fixed income provides a false hope that it is less risky and private banks are extending credit very freely on names that sometimes are fundamentally questionable.

Anyway, if you can't make your equity market attractive to have quality listings, speculation alongside with fundamental investments will ebb. That is the tough reality.

What is the main issue here - casino / bucket shop mentality. This mentality is deeply rooted with SGX IMHO.

GG

GG,

I have no strong opinion on the quality of SGX listed bonds. They are highlighted to support my view on liquidity and participation in SGX, which is opposing to your and BlueKelah's view.

BTW, FCL's $600 million issue of PS, is one of the listed bonds mentioned.