匯豐環球投資管理:部份高息企業債有信貸壓力 但情況可控
匯豐環球投資管理亞洲信貸主管梅立中於記者會指,內房商今年3、4月已轉發行在岸美元債,淨發行量已達30億美元,加上頭三個月已發行230億美元債,相信已準備好今年再融資計劃,雖然發行美元債成本轉低,但相信內房商未來會更偏好在在岸尋找較便宜的融資。
他指,內房受惠國策,有加快銷售情況,但由於內房商眾多,具有差異性,故投資者需審慎挑選。不過,行業整體系統性爆破的可能性低,政府已採取多項措施,減低短期違約問題,但需留意相關措施是否能夠傳達至實體經濟。
他又指,有部份高息企業債有信貸壓力,特別是很大程度上受到疫情的影響企業,相信今年會有一定數量的違約,但情況可控。
亞太區債券投資總監陳寶枝指,不相信負利率的情況會持續,特別是美國會利用量寬作為手段,多於實施負利率,預期會維持低息環境至明年底,並支持債市發展。
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