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

Last week, the US Treasury yields declined across the curve, with the most pronounced drops observed in the 2Y (-11 bps) and 5Y (-12 bps) maturities, while the 10Y yield fell by 10 bps. Regional Cbonds USD price indices showed broad-based gains, with corporate and sovereign segments advancing in all emerging market regions, led by Africa and Latin America in both categories.

Notable price movements in emerging markets bonds include Thai Oil’s Eurobonds rising 3.46% after the announcement of its new offshore natural gas project in Myanmar. The Airport Authority Hong Kong's recent support for expanding air passenger departure tax exemptions and the upcoming partial opening of Terminal 2 in September 2025 underpinned its bonds performance. Conversely, New World Development’s bonds fell 4.53% following a bond payment delay, while Telefonica Moviles Chile dropped 3.11% after a credit rating downgrade by S&P. Alibaba bonds advanced 2.70% and 2.67%, respectively, driven by positive earnings outlooks and strategic refocusing efforts. Pemex bonds declined 1.85% amid restructuring plans revelation.

In developed markets, AstraZeneca’s bonds also gained due to strong financial performance and positive analyst ratings, reflecting optimism around its growth prospects. Verizon Communications saw bond price increases amid improved investor sentiment following its stock gains and aggressive broadband strategy. Conversely, Ivanhoe Mines’ bonds declined due to trade uncertainty and copper price volatility. SISECAM UK also saw bond price drops possibly weighed down by economic slowdown in Turkey despite the global presence of the corporation.

Bond market news highlights of the last week include Treasury yields dipping as U.S.-EU trade tensions eased and Fed Chair Powell meeting with President Trump amid rate-cut pressures.

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