Barclays_Asia_Credit_Alpha_China_Property_Could_the_housing_trade_in_scheme_help_digest_excess_inventory_

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FICCResearchCreditResearch9May2024AsiaCreditAlphaFOCUSChinaProperty:CouldthehousingAsiaCreditStrategytrade-inschemehelpdigestexcessAvantiSave,CFAinventory?+6563083116avanti.save@barclays.comWeexpectall-inyield-focuseddemandandtechnicalsfromBarclaysBank,Singaporebondredemptions,couponsandLMEstocontinuetoanchorspreadsatcurrentlevels.WepreferBBBsandidiosyncraticYiminWeng,CFAopportunitiesinHY(Bs/CCCs).InourFocus,wetakeacloser+6563082716lookatChinapropertyinventories.yimin.weng@barclays.comBarclaysBank,SingaporeAsiaCreditAlphaSarahBehOverview........................................................2+6563085087sarahemi.beh@barclays.comTechnicalsforMayareuneven,butweexpectspreadstoremainaroundcurrentlevels.WeBarclaysBank,Singaporepreferaddingtopositionsviaidiosyncraticopportunitiesandselectlaggards.AsiaCreditResearchFocusJitMingTan,CFA+6563083210ChinaProperty:Couldthehousingtrade-inschemehelpdigestexcessjitming.tan@barclays.cominventory?.......................................................4BarclaysBank,SingaporeWethinkthegovernmentneedstostep-upsupportmeasuresforthesectortoturntheL-shapedRoannaChaubottomintoanL-shapedrecovery.+85229032625cheukyan.chau@barclays.comBarclaysBank,HongKongWilsonHo,CFA+85229032656wilson.ho@barclays.comBarclaysBank,HongKongImtiazShefuddin+6563084906imtiaz.shefuddin@barclays.comBarclaysBan...

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