#CbondsWeekly – all the latest updates in the world of Eurobonds

Last week, the US Treasury yields rose by 6-10 bps with a steeper increase for the short maturities. USD remained on the weakening trajectory. The US market dynamics diverged significantly from the emerging markets landscape: all EM regional USD bond price indices, calculated by Cbonds, moved higher in the corporate and sovereign segments. Cbonds EM Corporate USD YTM Index eased by 5 basis points.

In emerging markets, Pemex bonds continued into positive territory after last week's strong performance. Both Indian and Pakistani eurobonds are among the top gainers after the trend for de-escalation prevailed in the recent conflict. The presence of Chinese real estate developers' bonds in the top losers' list highlights ongoing pricing pressure in Hong Kong’s property sector, which may contribute to investor concerns.

In developed markets, bonds of Charter Communications received a boost after the company revealed plans to acquire its privately owned competitor Cox Communications for $21.9 billion, creating one of the largest cable and broadband provider mergers in the United States. The strategic rationale behind this acquisition appears to be creating scale to better compete in the evolving media landscape, where traditional cable businesses face decline as consumers shift to streaming services like Netflix.

The most significant bond price declines in developed markets were observed in UnitedHealth Group's securities, with several bonds showing losses between 1.82% and 2.28%. UnitedHealth Group announced the unexpected resignation of CEO Andrew Witty, with company veteran Stephen Hemsley returning to the top role. This leadership change comes amid a series of challenges that have plagued the healthcare giant over the past year, including an ongoing U.S. Justice Department inquiry into UnitedHealth's Medicare billing practices.

You can read the full version of the report in Research Hub Cbonds