Global
Private Debt Fundraising Hits Four Year Low – Preqin
The total volume of private debt raised was 41% lower in 1Q2020 compared with a year prior – the worst quarter for the asset class since 3Q2016, and a sign that the asset class has not escaped the current market volatility totally unscathed.
15 Apr 2020
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM and risk assets rallied last week, due in large part to increased Fed stimulus as well as plans by OPEC+ to cut oil production. This really may carry over into this week and yet when all is said and done, the global economy won’t avoid recession and the economic numbers are likely to worsen significantly before they get better.
13 Apr 2020
Global Debt Soars 40% Since 2008 as Pandemic-Hit Nations Fire Up Fiscal Stimulus
A lightning fast shift from tentative attempts to stem budget deficits across the developed world post-2008 to an all-out fiscal bazooka over recent months has seen debt levels skyrocket to more than 320% of global GDP.
9 Apr 2020
ESG-Compliant Bonds More Resilient than Non-ESG Assets in 1Q2020
As the coronavirus pandemic weighs on global markets, both bonds and equities have been battered. But according to recent research from AXA Investment Managers, bonds with a high degree of ESG compliance performed better than their less compliant peers.
9 Apr 2020
BlackRock: Credit Outlook, Local Currency Debt Upgraded on the Back of 'Unprecedented' Stimulus Efforts
Unprecedented policy support from the world’s governments and large central banks to fight the economic effects of the COVID-19 pandemic have sharply lowered valuations and have led to an improving outlook for credit, BlackRock analysts say. Emerging market local currency debt is one of the asset classes favoured by the fund manager.
8 Apr 2020
Analysts Pare Back Price Assumptions on Metals as Economic Activity Drops
Lower economic activity following the introduction of lockdowns in many countries has prompted analysts to reduce their short-term price expectations on a range of metals, which could harm the prospects of a wide range of emerging markets.
7 Apr 2020
Multi-Notch Sovereign Downgrades Likely Across Emerging Markets – Fitch
The onset of the coronavirus and a slump in the oil price is leading to a rise in the likelihood of multi-notch sovereign downgrades.
7 Apr 2020
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM may get a little support from a potential OPEC+ deal to limit oil. Even if a deal is struck, the impact is likely to be fleeting as the global growth outlook remains terrible. We remain negative on EM for the time being. Head of EM Strategy Win Thin's take on key data drivers this week.
6 Apr 2020
The End of LIBOR Could Spawn a Heterogeneous Rate Environment, Creating Uncertainty for Banks and CFOs
Despite the considerable momentum in transitioning towards new rates to replace LIBOR ahead of the 2021 phaseout, a forward-looking version of today’s risk-free rates remains elusive, raising the spectre that CFOs and treasurers will have to grapple with a heterogenous and complex bank borrowing environment.
3 Apr 2020
Emerging Markets Already Presenting Opportunities Despite Fear of Second Wave of Outflows
The asset class continues to see significant outflows as a flight to safety escalates, with the vast monetary and fiscal stimulus programmes announced by global governments in recent weeks failing to convince markets of brighter near-term prospects. But investment opportunities may become more pronounced sooner than people think, investors say.
3 Apr 2020