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Bips & Pieces

Growth of Brazilian Economy looks Set to Double 2019 Rate as Recovery Picks Up – BBVA

The Brazilian economy is on track to expand in the first quarter of 2020 with full-year growth expectations also improving, according to economists at BBVA.

31 Jan 2020

Kenya’s Real Estate Sector Not Heading for a Bubble – Cytonn Investments

Despite a boom in Kenya’s real estate sector in recent years the market is not currently in a bubble, argues a recent report from Cytonn Investments. A bubble is unlikely, the report argues, due to a lack of access to credit, without which unsustainable demand cannot be supported.

31 Jan 2020

Ailing SoEs Pose Systemic Fiscal Risk in Pockets of EM

A new analysis by the IIF indicates that struggling state-owned giants such as Pemex and Eskom remain vulnerable and pose risks to their respective countries’ sovereign credit outlook.

30 Jan 2020

BlackRock Fixed Income CIO: Fed’s Policy Statement “Abnormally Normal”

Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income says that while the Fed’s apparent commitment to continued easing and expansion is reassuring, they may look to rein in some of the ‘plentiful’ liquidity pumped into financial markets in recent years.

30 Jan 2020

Yield to Maturity of Individual Securities Key Barometer for Credit Risk – IDFC Mutual Fund

Investors should pay more attention to the yield to maturity (YTM) of individual securities when assessing credit risk in a portfolio, according to a note from Arvind Subramanian, Fund Manager at IDFC Mutual Fund.

30 Jan 2020

Spike in Africa Eurobond Maturities in 2024, 2025 Shouldn’t Overwhelm Sovereign Refinancing – M&G

Despite elevated idiosyncratic risk and concerns around emerging market sentiment more broadly, a spike in African Eurobond maturities in 2024 and 2025 is unlikely to overwhelm the sovereigns’ ability to refinance their bonds given advances in active debt management and a positive track record of repayment, according to M&G Investments.

29 Jan 2020

Pakistan’s External Balance Improved More than Expected Under IMF Programme – JP Morgan Securities

The USD6bn loan to Pakistan approved by the IMF in mid-2019 has gone some way to helping stabilise the country’s economy in the face of domestic and external headwinds.

29 Jan 2020

Strong Link Between Prosperity and Emissions Undermines Sustainability Push

The research casts doubt on feasibility of combining high economic growth targets with sustainability objectives, with potential implications on development of “green finance” markets.

29 Jan 2020

Regulatory Tweak Expected to Boost Foreign Investment in Paraguayan PPP Projects

So far a lot of institutional investors from Europe and North America have been cautious of the construction and other risks associated with public works projects in the Southern Cone nation, but this may all change following an upcoming legislative change.

29 Jan 2020

Global Interest Rates Outlook: Lower-for-Longer

The underlying factors behind low interest rates are unlikely to change in coming years, meaning that the near-zero yields are here to stay, Moody’s analysis suggests.

28 Jan 2020

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