Park Your Cash — Short-Dated
Senior, A-/A3 or better bonds maturing within 24 months yielding ≥ 4.5%.
Amid ongoing macroeconomic uncertainty and shifting rate expectations, institutional portfolios are increasingly prioritizing highquality, shortduration paper to park excess cash while securing robust yields well above the 4.5% threshold. The current screen highlights compelling relative value across senior investmentgrade maturities, led by sovereign and quasisovereign issues such as China’s 2026 maturity offering a 19.54% YTW and Taiwan Semiconductor at 17.93% YTW. Additional liquidity management opportunities emerge in select corporate and financial paper—including Pacific Life’s 2028 maturity yielding 9.76% and Intercontinental Exchange’s 2027 notes at 6.92% YTW—providing portfolio managers with defensive positioning and attractive carry.
| # | Issuer | ISIN | Coupon | YTW | Price | Maturity | Next Call | Rating | CUR | AMT OUT |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Korea Expressway Corp | …9101 | 2.7 | 66.654 | 99.2849165 | 2026-10-26 | Inv Grade 2 | USD | 200MM | |
| 2 | China (People's Republic Of) | …AE27 | 1.25 | 19.541 | 99.745 | 2026-10-26 | A+ | USD | 1.5BN | |
| 3 | Tsmc Arizona Corp. | …AA96 | 1.75 | 17.937 | 99.8188 | 2026-10-25 | AA- | USD | 1.25BN | |
| 4 | Industrial and Commercial Bank of China Limited, Hong Kong Branch | …3350 | 1.625 | 12.572 | 99.78575 | 2026-10-28 | Inv Grade 3 | USD | 1BN | |
| 5 | Pacific Life Global Funding II | …3M78 | 4.63 | 9.763 | 93.65 | 2028-07-10 | AA- | USD | 450MM | |
| 6 | ICBCIL Finance Co Ltd. | …8488 | 2.25 | 7.713 | 99.831 | 2026-11-02 | Inv Grade 3 | USD | 750MM | |
| 7 | SF Holding Investment 2021 Ltd. | …3011 | 2.375 | 7.706 | 99.6115 | 2026-11-17 | A- | USD | 800MM | |
| 8 | Intercontinental Exchange Inc | …AJ30 | 3.75 | 7.598 | 93.2505 | 2028-09-21 | 2028-06-21 | A- | USD | 600MM |
| 9 | Rongshi International Finance Ltd. | …2628 | 1.875 | 7.535 | 99.5107143 | 2026-11-22 | 2026-11-19 | Inv Grade 3 | USD | 300MM |
| 10 | Intercontinental Exchange Inc | …AU84 | 4 | 6.923 | 97.4785 | 2027-09-15 | 2027-08-15 | A- | USD | 1.5BN |
Results are limited to USD bonds with an amount outstanding of at least USD 200MM.