Investor Insights
SWOT Analysis of Colombia’s Credit Markets
Bonds & Loans team spent some time on the ground in Colombia to meet with a broad range of local finance leaders in order to get a sense of the risks and opportunities on the horizon in the Andean country.
18 Oct 2018
ESG Integration and Engagement: South Africa Sovereign Credit
Environmental, social and governance (ESG) indicators are integral to PIMCO’s sovereign credit assessments, which inform our investment decisions. But how exactly do we incorporate ESG considerations into our decisions?
17 Oct 2018
Under Which Conditions are EM Countries Vulnerable to Economic Contagion Via Currency Volatility?
Jan Dehn, Head of Research at Ashmore, explains why there are two conditions that have to be satisfied before currency volatility can morph into major economic malaise.
12 Oct 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
We saw a significant EM positioning washout last week, with weak longs getting punished. Anyone lulled into jumping aboard the EM train recently is getting crushed by sharply higher US rates. ARS and BRL bucked the trend and gained last week, but all others were weaker and were led by ZAR, CLP, and COP. MSCI fell 4.5%, while EM bond yields surged. With US rates still marching higher, EM is likely…
8 Oct 2018
London Calling
The breadth and depth of London’s financial ecosystem, its broad appeal among investors and borrowers and the growing need for international borrowers to raise their credit profile is evident despite challenging geopolitical and market conditions. The City remains a top debt listing destination.
5 Oct 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended the week on a mixed note. For whatever reason, the major currencies took the brunt of the dollar’s rebound, with every currency down on the week except for CAD (+0.1%). EM FX was mixed on the week, with TRY, RUB, and ZAR able to carve out gains even as ARS and CZK fell. China is closed all week and so we may not see any trade-related headlines. However, China reported softer than…
1 Oct 2018
Franklin Templeton Sees Strong Project Finance Pipeline in GCC
Franklin Templeton’s Senior Research Analyst Franck Nowak concedes that some optimism has faded over the past quarter, especially as Fed hikes look inevitable and EM jitters have settled in, but underscores the fact that GCC bonds are performing still well and project finance is expected to drive the deal pipeline for the region in 2018.
28 Sept 2018
Emerging Markets: Déjà vu 2002
As emerging markets continue to suffer from broad sell-offs by risk-wary investors, some see the parallels to similar developments that happened back in 2002. In this exclusive piece of analysis, Ashmore's Jan Dehn considers those parallels - and explains why they only go so far in explaining the current situation.
25 Sept 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended Friday mixed, but capped off a generally firmer week as a whole. We think the EM-negative drivers remain in play: rising US interest rates and heightened trade tensions. FOMC meeting will be the key event this week, but the response to the implementation of US and Chinese tariffs will be a close second.
24 Sept 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended mixed in Friday, capping off an up and down week. RUB and TRY initially firmed on their respective rate hikes but gave back some of those gains heading into the weekend. Trade tensions are likely to remain high, as press reports suggest President Trump is pushing ahead with tariffs on $200 bln of Chinese imports even as high-level talks are planned. With US rates pushing higher, we…
17 Sept 2018