Global
Private beats public on EM debt concerns
Emerging market debt levels are on the rise. Public sector debt has grown substantially, largely from countries reliant on commodity exports. However the real concern is over EM private sector debts, which since the financial crash have been steadily increasing.
15 Jun 2016
Burning money: petrocurrencies unlikely to gain
The slow rise in the price of oil has had an effect on petrocurrencies across both developed and emerging markets, but not to a significant extent. The losses these currencies incurred resulting from the collapse in oil prices has offset any gain they are likely to see in the near future, although unpegged currencies will ultimately perform better than their pegged counterparts.
15 Jun 2016
Fallout spreads from Brexit bomb
Investor concerns over Brexit are causing short term volatility in LatAm assets, and the long term effects of Brexit could cause global volatility in the region and beyond.
14 Jun 2016
Only Brexit clouds EM outlook
While emerging markets have benefitted from a dovish stance from the US Federal Reserve and low yielding developed market bonds, the threat of Brexit could cast a shadow over their performance.
13 Jun 2016
The best performing EMs may surprise you
Whilst the economies of Mexico and India, two markets typically favoured by investors for their embrace of reforms, are performing relatively well in comparison to those such as Brazil’s, other emerging markets such as Peru and Russia are providing better investment opportunities for investors.
10 Jun 2016
As EM corporates boost refinancing activity, will increased risk follow?
Refinancing activity across emerging markets has increased, especially amongst the non-financial corporate sector outside of Europe and Russia, with many of these entities staring down the barrel of upcoming maturities in 2017.
9 Jun 2016
Daily Roundup
Brazil, Venezuela drag on World Bank outlook – Vale tightens pricing on US$1.25bn Eurobond – Ghana to sell US$1bn Eurobond between June and September – Argentina tables PPP reforms
8 Jun 2016
Concern, but not panic over rising quasi-sovereign debt levels
Although emerging market quasi-sovereign debt levels are increasing, positive steps to mitigate risk are evident in certain sovereigns’ intervention in their entity’s debt management, as in the Brazilian government’s shake up of Petrobras’ executives. Although many quasi-sovereigns such as Pemex and Petrobras have high debt ratios, only some like Ematum have precarious financial positions.
6 Jun 2016
On The Horizon in EMs
GFH Financial Group plans US$150mn sukuk – Turkey to raise US$1bn through Islamic debt – Ghana’s COCOBOD gains permission for US$2bn loan facility – Petrobras announces US$6bn bond buyback
2 Jun 2016
On The Horizon in EMs
Oman's MB Holding Company mandates banks for sukuk – Argentina's Cablevision SA mandates banks for benchmark bond - China Aircraft Leasing Group Holdings signs US$195mn syndicated loan
1 Jun 2016