Economics and Markets
Risk-Off Sentiment ‘Relatively Limited’ in Response to Coronavirus – Blackrock
As a growing number of cases of coronavirus are confirmed outside of China markets have become shaky.
6 Feb 2020
Eastern European and Turkish Bond Market Activity Picks Up, Driven by Bank Issues
An FI bond’s record price tightening, a new issuer from the CIS, a USD-denominated perp from a major Russian lender and three Turkish issues have blown the CEEMEA bond markets wide open.
5 Feb 2020
Twin Deficits Leaves ZAR vulnerable – Standard Bank
Over the past week the rand has weakened as the global coronavirus outbreak causes markets to jitter. The rand is particularly vulnerable due to the country’s twin deficits – both current and fiscal – being run by the government, which “both compare poorly in the global context” according to a recent report by Standard Bank.
5 Feb 2020
India’s Budget Fails to Offer Expansionary Fiscal Stimulus
India’s Finance Minister, Nirmala Sitharaman, unveiled the 2020 Union Budget of India this week to a lukewarm reception, as it failed to offer the expansionary fiscal policy measures many believe necessary to kickstart the struggling economy.
5 Feb 2020
African Exchanges are Key to Developing the Region’s Capital Markets, but Most Remain Illiquid
Africa’s securities exchanges have long been seen as a pivotal part of the development of the region’s capital markets, but a lack of liquidity blended with rapidly changing borrower and investor preferences is holding public markets back.
4 Feb 2020
Oil Price Volatility Provides Crucial Test for OPEC+
Oil prices continued to tumble during the first week of February as the coronavirus outbreak intensified, taking Brent Crude futures down nearly 12% year to date and sending OPEC+ scrambling to contain to counter the impact.
3 Feb 2020
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM remains vulnerable to deteriorating risk sentiment as the coronavirus spreads. China announced a series of measures over the weekend to help support its financial markets, but this may not be enough to turn sentiment around yet. China markets reopen Monday after the extended Lunar New Year holiday and it won’t be pretty.
3 Feb 2020
AXA Sees Greater Investment Opportunities in EM Green Bonds – But ESG Still Needs Improvement
Emerging market green bond investment opportunities are looking increasingly attractive to global institutional investors – but EM issuers still need to continue improving on the ESG front in order to improve global investor penetration, AXA senior economist Irina Topa-Serry says.
3 Feb 2020
Growing Non-OPEC Supply Offsets Rising Demand – National Bank of Kuwait
As trade tensions between the US and China begin to cool – at least for now – oil demand is due to grow at a modest rate of 1.2 million barrels per day, up from a multi-year low of 1 million barrels per day in 2019.
31 Jan 2020
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