Investor Insights
Brazil: What did Carnival Reveal? A Recovery, That’s What
Carnival in 2018 was the most festive in recent years. The streets were full and associations connected with tourism celebrated a marked increase in movement. With fear of the recession receding, consumers are gradually materializing their buying intentions once more.
7 Mar 2018
UPF Corp EMD Head: ‘Africa has bright spots but transparency, governance still pitfalls'
African borrowers have boosted international borrowing over the past few years, but have investor perceptions of the benefits – and risks – inherent to investing on the continent changed during that period? Bonds & Loans speaks with Union Privatfonds EM Corporate Debt Head Sergey Dergachev about how African assets figure within his fixed income portfolios.
6 Mar 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended Friday on a mixed note, capping off a largely softer week. Best performers last week for MYR and TWD while the worst were ZAR and ARS. US stocks clawed back early losses and ended the week on a firmer note but we think further market turbulence is likely.
5 Mar 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended Friday on a mixed note, and capped off a soft week overall. Best performers last week were ZAR, CLP, and PHP while the worst were TRY, ARS, and IDR. Fed Chief Powell’s testimony to Congress will likely draw market attention back to Fed policy.
27 Feb 2018
Brazil: The Economics of The Intervention in Rio
The federal public security intervention in Rio de Janeiro is one more example of the political perspicacity of the government leaders. In one fell swoop they managed to remove the monopoly on the public safety agenda of an important competitor, give a sign of strength to unfaithful allies, and put the opposition in the uncomfortable position of criticizing a measure with popular appeal.
26 Feb 2018
Angola: Next in Line in Africa for an IMF Programme?
Angola’s new President João Lourenço – locally referred to as J-LO – has had a busy first 100 days in office. Under the mantle of high popularity, he has been implementing core changes that are putting the country onto a different, necessary, and most likely difficult, path. Is all of this leading the country towards an IMF programme? It would be music to investors' ears if it were.
23 Feb 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM FX ended on a mixed note Friday, but capped off a very strong week overall. Best performers over the past week were RUB, ZAR, and COP, while the worst were PHP, CNY, and TWD. There is not much happening this week that could disrupt the weak dollar narrative, and so EM FX should continue to rally.
19 Feb 2018
Latin America Deals of the Year Awards 2018: The Winners
The issuers, borrowers and mediators of the most innovative and outstanding debt capital market deals on the continent to be lauded at the prestigious awards ceremony. Winners: Latin America Deals of the Year Awards 2018
16 Feb 2018
Standardisation and Harmonisation Will Propel the Sukuk Market Forward
Almost 20 years ago, global fixed income investors scarcely heard of the word ‘sukuk’, let alone understood the asset’s unique structural features or benefits. Much has changed since, with the global sukuk issuance topping USD74.8bn at the end of 2016. But with the asset class’ impressive growth being hamstrung by liquidity shortages and a lack of global standards, the development and…
14 Feb 2018
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
Emerging Market FX ended Friday on a mixed note, as risk assets recovered a bit from broad-based selling pressures. Best Emerging Market performers on the week were ZAR, PHP, and CNY while the worst were COP, RUB, and ARS. Besides the risk-off impulses still reverberating through global markets, we think lower commodity prices are another headwind on EM.
12 Feb 2018