EM Daily:Asia Credit -Chart book 2017+Picks &Pans

As we tip-toe towards the end of the year and start to ponder about theyear ahead, we use this opportunity to reflect on 2017. We dissect thecomposition of our asset class, conduct a performance review, analyze somefundamental & technical trends, and conclude the chartpack with some relativevalue observations. We follow that up with our usual tables on current bondrecommendations. This report also marks the end of our regular team publicationsfor 2017 and we are targeting to publish our 2018 Outlook in the next 2- 3weeks. Our current high conviction trade ideas in the Asia credit space includeBuy Mongolia 2022s, Malaysia 2046, and Indonesia 2037, sell Sri Lanka 2027s,Indonesia 2047s in the sovereign space; Buy Woori 2024s T2, BEA 2026s T2,Mizuho 2025s T2, sell SBI AT1, Canara 2022s, BoChina 2025s etc. amongfinancials; Buy Bharti 2024s, ChemChina 2022s, 2022s, Global Logistic Properties2025s, and Paiton Energy 2037s, and sell Baidu 2022s (vs. 2027s), Lenovo 2022sin IG corps; and Buy Sunac 2022s, Evergrande 2023s, Vedanta 2024s, Ruyi 2019s& 2022s in HY corps.