KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
Key Takeaways
Goldman Sachs plans to raise at least US$12bn via bond issuance
Deal may include up to six tranches with maturities up to 21 years
Strong Q4 trading revenue supports investor demand
Issuance likely helps refinance 2026 debt maturities
Other big banks (JPMorgan, Wells Fargo, Morgan Stanley) also issuing
Wall Street bond supply expected to ramp up sharply this quarter
Goldman Sachs Group Inc is looking to raise at least US$12 billion through an investment-grade bond sale, signalling a renewed acceleration in bond issuance by Wall Street’s largest banks following strong fourth-quarter earnings, according to Bloomberg.
The planned offering may be split into as many as six tranches, with maturities ranging from three to 21 years. Initial pricing discussions indicate a premium of about 1.05 percentage points over US Treasuries for the longest-dated bonds.
The move follows Goldman’s record US$4.31 billion equities-trading revenue in Q4, which exceeded expectations and reinforced confidence in the bank’s earnings power. The issuance also comes as Goldman faces significant debt maturities in 2026, suggesting the proceeds will help refinance upcoming obligations.
Goldman’s planned deal would match its largest-ever bond sale, last seen in 2022. Other major US lenders are also tapping the bond market. Wells Fargo & Co is offering bonds in up to four tranches, while Morgan Stanley is preparing its own multi-part issuance. Earlier in the week, JPMorgan Chase & Co kicked off the latest issuance wave with a US$6 billion transaction.
The surge in supply follows a slow start to the week for investment-grade bonds, as markets weighed concerns over credit-card interest-rate caps and broader macroeconomic uncertainty. Despite that, dealers still expect around US$60 billion of issuance for the week, with Barclays estimating that the Big Six US banks could issue up to US$55 billion by quarter-end.
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