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The Republic of Ecuador has reached a preliminary deal with the its largest creditors, paving the way for the country to restructure nearly USD17.4bn in sovereign bonds.
7 Jul 2020
The coronavirus pandemic has weighed heavily on the fiscal performance and debt levels globally, with many emerging and frontier markets unlikely to recover until 2022 at the earliest according to Moody’s.
7 Jul 2020
Risk assets remain hostage to swings in market sentiment. Stronger than expected US jobs data last week was welcome news. However, the tug of war between improving economic data and worsening viral numbers is likely to continue this week, with many US states reporting record high infection rates.
6 Jul 2020
The COVID-19 pandemic has convulsed the global economy, unevenly weighing on some of the world’s largest emerging markets – not the least of which countries with a heavy dependence on oil revenues. For CFOs and Treasurers based in the GCC region, the pandemic was a crude awakening which quickly led to a liquidity squeeze that is only just starting to ease as a ‘new normal’ begins to set in. Bonds…
3 Jul 2020
Mark Mobius, Director of Mobius Capital Partners gives his outlook for 2020
2 Jan 2020
We caught up with Todd Schubert, Managing Director, Head of Fixed Income Research, Bank of Singapore in advance of the Issuers & Investors Forum in Singapore to get his views on how Asian investors view Turkish and GCC credit.
10 Dec 2019
In this exclusive Bonds & Loans webinar we chat to Brad Tank, CIO of Neuberger Berman, on the aftermath of the biggest financial crisis the world faced in the past 30 years - and where the global markets are ten years on.
10 Oct 2018
Risk assets came under pressure last week as the virus news stream worsened. It’s clear that large parts of the US will be forced to delay reopening until their virus numbers improve. Markets had gotten too bullish on the US recovery story and so this reality check soured sentiment. This is a very important week for US data, and we think risk sentiment will remain under pressure ahead of what we…
29 Jun 2020
South Africa’s emergency budget tabled by Minister of Finance Tito Mboweni this week spelled out a number of “difficult decisions” for the country but made few, raising yet more credibility concerns around one of the region’s largest economies.
25 Jun 2020
India entered the COVID-19 crisis with a slew of pre-existing vulnerabilities. Now, with the country wracked by the impact of the virus, Moody’s has downgraded a number of notable Indian institutions, joining other rating agencies in placing the sovereign within touching distance junk status.
3 Jun 2020
April saw foreign exchange reserves at the Saudi Arabian Monetary Authority (SAMA) continue to fall by an additional USD24.7bn, with the total decline over March and April now totalling some USD48.7bn. This was largely due to a liquidity injection into the Public Investment Fund (PIF).
2 Jun 2020
Coronavirus presented global businesses with several challenges – from enhanced safety protocols to supply chain disruptions and everything in between. However, while many market stakeholders predicted issues with attracting new funding, investment-grade companies have managed to largely overcome them.
30 Jun 2020
CFOs and treasurers globally have spent the better part of the past three months adjusting to the severe economic disruption caused by the coronavirus pandemic, not the least of whom those looking to raise funding. We sat down with Felipe Castilla, CFO of Grupo Energía Bogotá, a state-owned energy conglomerate based in Bogotá and operating in select markets across the Americas, to talk about…
23 Jun 2020
In an exclusive interview Bonds & Loans spoke to Aurélio Bustilho de Oliveira, CFO Enel Américas, about ESG, deleveraging and coping with the impact of the pandemic while also supporting the supply and value chains.
21 May 2020
While governments and multilateral agencies announce a raft of measures to support businesses, banks, and individuals, UAE-based CFOs and treasurers batten down the hatches as focus shifts towards liquidity management, supplier support, and cost reduction.
29 Apr 2020
It cannot have escaped investors’ attention that stock markets are surging and spreads are tightening. Yet, the world has not looked as bad as this in political and economic terms for a very long time. Asset prices seem divorced from fundamental realities. How and why does this happen and what does it mean for investment? This short note aims to provide a brief perspective on these questions.
9 Jun 2020
Risk-on was the theme last week and that is likely to continue this week. That’s good news for EM, which has benefited from improved market sentiment. Commodity prices continue to recover, even though the data out of mainland China remain mixed. The Fed is expected to reaffirm its current policy stance when the FOMC meets this week.
8 Jun 2020
EM FX had a solid week, helped by overall weakness in the dollar. Trump’s threats against China turned out to be much ado about nothing and so risk assets ended the week on a strong note. This week, markets will be looking for some sort of response from China but quite honestly, Trump did so little that we may not see anything beyond some snarky Tweets from the Global Times. For now, the…
1 Jun 2020
The Hashemite Kingdom of Jordan raised USD1.75bn through the sale of five and 10-year notes in international markets this week.
1 Jul 2020
South African state-owned utility Eskom may look to issue sukuk in a bid to raise funding in the local market, according to a tender document.
30 Jun 2020
Coronavirus presented global businesses with several challenges – from enhanced safety protocols to supply chain disruptions and everything in between. However, while many market stakeholders predicted issues with attracting new funding, investment-grade companies have managed to largely overcome them.
30 Jun 2020
Industrial Bank of Korea (IBK) took to the markets this week to raise USD500mn in social bonds, with the proceeds targeted at funding COVID-19 response measures.
16 Jun 2020
