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ASIA CREDIT CLOSE: Investors pare risk ahead of holiday 

January 30, 2014
Christopher Langner, Reuters

Investors were still selling bonds today ahead of the long weekend in Asia for the Lunar New Year holidays. Spreads for some of the more liquid bonds, such as those from Chinese state-owned enterprises and banks, were 5bp to 10bp wider as the market neared an early close.

"We are seeing some pre-holiday better selling, despite higher levels," noted a trader in Singapore.

Part of the selling interest was due to higher cash prices after 10-year US Treasuries tightened 10bp overnight following the Fed Reserve's decision to trim another USD10bn off its bond-purchase programme.

Read more: Reuters

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