Currencies
Russia, CIS, Europe & Turkey Credit Markets Brief: 13 July – 28 July
Gazprom tapped the international markets – Alfa Bank issued a RUB10bn Eurobond – AFK Sistema declared technical default on bonds –– Halyk Bank acquires Kazkommertsbank – IBA plans to restructured approved by shareholders – Greece returned to the capital markets – Halbank to issue a US$2bn bond in the international markets
28 Jul 2017
Africa Credit Markets Brief: 13 July – 27 July
Sub-Saharan African investment banking fees reached US$244.7mn during the half of 2017 – South Africa to issue a US$2bn Eurobond – South Africa’s central bank cuts rates – Nigeria’s inflation fell to a 13- month low – Kenya’s National Treasury extended the sale of securities through M-Akiba platform – Mozambique defaulted on Eurobond payment – Ghana will not extend IMF programme –Republic of…
27 Jul 2017
Signal Versus Noise: The Case of Brazil
Brazil offers a good example which illustrates the difference between signal and noise in investing. A complete mess from a journalistic perspective, Brazil has been one of the best investments in global fixed income markets and continues to offer an attractive investment proposition. We examine why countries with so much bad news can be such excellent investments.
25 Jul 2017
Middle East Credit Markets Brief: July 6 - July 20
Middle Eastern debt issuances reach US$57.4bn in Q1 – Growth in GCC picks up –Topaz Marine issues bonds - Qatar refuses to accept GCC demands - Egypt raises rates - Oman Oil finalizes a US$2bn loan - Fitch revises outlook for Omani banks – Egypt receives loan tranche from the IMF
20 Jul 2017
Africa Credit Markets Brief: June 29 – July 12
South Africa’s Myriad International Holdings tapped the international markets – Eskom signed loan agreement with China Development Bank – Private sector activity in South Africa fell in June – Nigeria sells T-Bills worth NGN31.9bn – Nigeria’s government intervenes to avert the collapse of Etisalat Nigeria – Kenya delays plans for maiden sukuk – Chad attempts to delay loan repayment – Gabon gets…
12 Jul 2017
Middle East Credit Markets Brief: June 23 – July 6
Dana Gas sukuk-holders demand UK court overturns injunction – IDB approves US$1.96bn funding on development in member states – Qatar downgraded as 5-year CDS rise 60bp – Saudi headline PMI drops to 8-month low – US laptop ban lifted on Abu Dhabi and Dubai airlines – Qatar Airways looking to purchase 10% stake in American Airlines – Egypt delays 5-year Treasury bond sale
6 Jul 2017
Latin America Credit Markets Brief: June 22 - July 5
Global debt reaches US$21tn – Mexico’s Central Bank completes annual hiking cycle – Brazil’s Temer indicted with corruption charges – Banco Mercantil del Norte places US$900mn – Argentina’s Cordoba province taps international markets with US$450mn bond – Colombia Movil closes US$300mn syndicated loan – Ecuador downgraded by S&P from ‘B’ to ‘B-‘ – Discounted Venezuela bonds now trading on Wall…
5 Jul 2017
SWOT Analysis: Nigeria
A closer look at the major strengths, weaknesses, opportunities and threats influencing the investment and debt capital markets climate in Nigeria
30 Jun 2017
Africa Credit Markets Brief: June 16 – June 29
South African lawmakers rebuff watchdog on CB mandate shift – Sibanye Gold sells new dual tranche notes – Etisalat Nigeria woes deepen – Nigerian banks line up fresh bond transactions – UBA Kenya subsidiary plans to tap parent company bond – Ivory Coast sees strong auction results – Morocco delays local sukuk sale – Coral South project reaches financial close – new investment laws coming to Egypt…
29 Jun 2017
BBH: EM FX Model for 3Q 2017
After a tough start to the year, EM has been able to get traction. Many EM currencies are trading at multi-year highs, while EM equities (as measured by MSCI EM) are trading at the highest levels since 2015.
28 Jun 2017