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Could the GCC steal the EM mantle from Frontier Markets?

What underpinned the boom in frontier market issuance in emerging markets in 2013 -2014 and, given the retreat from risk, will GCC region issuers have the credit quality to take over the EM mantle from frontier markets when risk appetite returns?

13 Apr 2016

South Africa stabilises alongside other EMs as new pricing reality sets in

South Africa seems to be benefiting from an uplift in emerging markets as the stabilisation in China’s economy and the commodities sector sent the rand to four-month highs this week. Despite the positive shift, a successful Eurobond sale, and an end to some short term political strife, some investors are still concerned about long-term structural issues plaguing the country.

12 Apr 2016

Is the emerging market rebound set to bounce back?

Emerging markets have reacted well to dovish signals from the US Federal Reserve. The rise in commodity prices has also contributed to their performance. However future interest rate increases combined with a slowdown in the rise in commodity prices could end the rebound.

6 Apr 2016

EM Corporates: More of 2015?

The EM asset class entered 2016 with challenging macroeconomic backdrop, supportive technicals and size difficult to ignore. But the divergence in performance between corporates and sovereigns has been clearly set in 2015 and is expected to continue.

6 Apr 2016

Is the junk bond revival nothing but rubbish?

Junk bonds and distressed debt from emerging markets has seen a brief rebound on the back of rising commodity prices. However, with the increase in commodity prices slowing, sub-investment grade debt may lose its gains.

5 Apr 2016

Mexico’s outlook lowered by Moody’s

Moody’s decision to lower Mexico’s credit outlook is linked to the performance of the state oil company. Any support given to Pemex by the sovereign could impact its current fiscal targets, which could contribute to a downgrade. However, as one of the best performers in emerging markets, it is unlikely that a downgrade would strongly affect foreign appetite for Mexican debt.

1 Apr 2016

Mozambique’s credit rating cut by Moody’s

Moody’s downgraded Mozambique’s credit rating from B2 to B3

16 Mar 2016

Moody’s cuts outlook on Saudi banking sector

Moody’s lowered its outlook for the Saudi Arabian banking system from stable to negative.

16 Mar 2016

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