APAC Credit Roundup: Weekly Review: Week ended July 3

Research evidence excerpt

APAC Credit Roundup: Weekly Review: Week ended July 3

J P M O R G A N Asia Pacific Credit Research

06 July 2026

APAC Credit Roundup

Weekly Review: Week ended July 3

Asia Pacific Credit Research

Soo Chong Lim AC

(852) 2800-7387

soochong.lim@jpmorgan.com

J.P. Morgan Securities (Asia Pacific) Limited

Matthew Hughart AC Weekly Review – An early summer retreat

(852) 2800-6518

matthew.hughart@jpmorgan.com• US HG – Spreads tightened with yields moving higher; 1H26 HG supply hit

a record high J.P. Morgan Securities (Asia Pacific) Limited

• Asia financials – China financials showed resilience Alvin(852) 2800-8533Au AC

• China IG – Weekly drop due to higher Treasury yields and wider spreads alvin.au@jpmorgan.com

• China HY – Property outperformed Industrials AC Aman Aggarwal

• North Asia – HK IG/HY mixed, Korea IG down (852) 2800-0081

• Asia gaming – Positive returns across IG and HY aman.aggarwal@jpmchase.comJ.P. Morgan Securities (Asia Pacific) Limited

AC• Indian corporates – Mixed performance compared to peers Shirley Yau

• Indonesian corporates – Some wobbly macro prints, with more to watch out for (852)shirley.yau@jpmorgan.com2800-0566

ahead J.P. Morgan Securities (Asia Pacific) Limited

Emma Xing AC

(852) 2800-8727

emma.xing@jpmorgan.com

Weekly Review – An early summer retreat EM, Economic and Policy Research

Asian credit ended lower last week. The JACI lost 0.24% of its total return last Mahmoud Harb

week, driven primarily by higher U.S. Treasuries. This was a reversal from the (65) 6882-1640

mahmoud.harb@jpmorgan.com

previous week, which saw a 0.26% gain driven by lower rates. Credit spreads JPMorgan Chase Bank, N.A., Singapore Branch

widened by 2bp to SOT+89. The U.S. Treasury market reacted negatively to the Emerging Markets Strategy