Asia's first money market ETF has been launched by Deutsche Bank and Singapore Exchange Limited (SGX) by listing the db x-trackers U. S. Dollar Money Market ETF on the Singapore Exchange (SGX) that currently has 39 ETFs covering worldwide equity markets such as Singapore, India, North Asia, ASEAN, United States, Eastern Europe, Latin America and emerging markets.

A whopping $500 million 10-year bond has been sold by Singapore Technologies Engineering on Thursday, at 150 basis points over the U. S. Treasuries, tighter than initial price guidance.

The agreement is an unusual AAA-rated corporate offshore bond out of non-Japan Asia. As per the Thomson Reuters' figures, in the year 2006, the previous agreement with a top rating was from Singapore's PSA Corp, which was rated Aaa by Moody's Investors Service.

Deutsche Bank and Morgan Stanley managed the bond.

Deutsche Bank and Morgan Stanley have been mandated by Singapore Technologies Engineering to make a benchmark dollar-denominated bond issue.

A source close to the deal said: “Investor presentations for the deal will be held in Singapore on July 7, in Hong Kong on July 8 and in London on July 9, with a deal likely to be followed, subject to market conditions.”