Bips & Pieces
Ratings Agencies Expect Sukuk Issuance to Rise in 2020 Despite Global Slowdown
The asset class had a record-breaking year in 2019 and remains resilient as investors seek safer waters during a highly volatile period, experts at Moody’s and RAM ratings conclude.
2 Apr 2020
Relationship Between Stocks & Bonds is Not Broken – MSCI
As the severity of the economic disruption wrought by the COVID-19 pandemic ensued, both bonds and stocks alike took a beating, raising questions about the historic inverse relationship between the two asset classes.
2 Apr 2020
Ukraine Passes Historic Land Ownership and Banking Reforms, Paving Way for IMF Aid
Lifting the moratorium on land purchases of farmland in Europe’s agricultural powerhouse has long been seen as a key condition for the Fund’s support and could finally open the door to the European Union for the country.
1 Apr 2020
The Asian Development Bank Targets Short End of the Curve with USD4.5bn Bond Sale
The Asian Development Bank (ADB) returned to the US dollar markets this week to raise USD4.5bn in fresh 2-year notes, the lender’s largest single-tranche issuance to date.
1 Apr 2020
Loans in Brazil Creep Up as Lockdowns Force Companies to Tap into Credit Markets
Non-earmarked loans increased 1.4% month-on-month in Brazil, while earmarked loans dropped 2.6% in the same period, central bank figures show, with overall loan delinquencies stable at 3% in seasonally adjusted terms.
1 Apr 2020
ESG-Linked Issuance Rebounds as Panic Subsides, Led by Developed Market Economies
While new ESG-linked issuance in emerging markets is largely limited to DFIs for now, a number of new deals that closed over the past week offers an encouraging sign of a market revival, according to IHS Markit.
1 Apr 2020
China PMI Shifts Above 50 as Domestic Demand Recovers
China's manufacturing PMI and non-manufacturing PMI moved above 50 in March, according to the official state data, an important sign of improving domestic production and consumption, despite continued pressures on the economy.
31 Mar 2020
India Lifts Foreign Portfolio Management Restrictions on Government Securities
The Reserve Bank of India (RBI) has removed restrictions preventing foreign portfolio investors from buying up government securities, a move that may not lead to huge inflows in the current environment – but a crucial step nevertheless in opening up the country’s bond markets.
31 Mar 2020
China’s Banking System Part of the Problem, Not a Solution, to Current Crisis – Rhodium Group
As the epicentre of the coronavirus outbreak, China was the first to suffer its devastating impact as the country went into lockdown and its economy ground to a halt. But will China be able to launch a sustained bounceback, as it did after the 2008 financial crisis? According to Logan Wright, Director and Daniel Hosen, Partner at Rhodium Group, China no longer has the option of launching a…
31 Mar 2020
“Triple Shock” of Pandemic, Commodity Plunge and Capital Outflows Shakes Emerging Markets
Emerging economies are in for a rough ride as the crisis escalates, ratings agencies warn, but growth is likely to rebound in 2021 if the pandemic subsides.
31 Mar 2020