Macro
SWOT Analysis: African Credit Markets in 60 Seconds
Bonds & Loans examines the strengths, weaknesses, opportunities and threats across Africa following a research trip to the region.
10 Oct 2019
Exclusive: Eaton Vance Looks Beyond the Index
Most dedicated fixed-income investors have by now realized that emerging markets cannot be treated homogenously, and that blanket statements or generalizations about “emerging market debt” tend to be misleading, or even plain wrong. But with a total of 110 sovereign credits forming the investible EM universe, indexes represent less than half of all investible assets – which is why Eaton Vance, a…
8 Oct 2019
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
EM got some traction last week as the dollar came under renewed pressure. However, the global backdrop remains negative for EM. US-China trade talks this week are unlikely to yield any progress, which means the next round of tariffs will go into effect mid-October. While odds of a Fed rate cut this month have risen, we do not think the positive liquidity story will outweigh the negative global…
7 Oct 2019
SWOT Analysis: GCC Credit Markets in 60 Seconds
Bonds & Loans examines the strengths, weaknesses, opportunities and threats across the GCC following a research trip to the region.
3 Oct 2019
As Russia’s Project Finance Factory Opens, Will Investment Follow?
While the recent advancement of PPP and project finance legislation and frameworks appears to be bearing some fruit – a few projects have been launched under the National Projects programme this year – attracting private capital remains a challenge, according to a number of local and international bankers, rating agencies’ representatives and corporate chiefs who spoke with Bonds & Loans on the…
2 Oct 2019
Brazil: The Composition of Growth Matters
One of the consequences of low growth is that the economic recovery is not widespread across sectors. Some continue to perform well in the midst of stagnation – and even contraction, in the case of many others.
1 Oct 2019
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
US-China trade tensions are likely to remain high. China reported slightly firmer than expected September PMI readings over the weekend. With more tariffs going into effect in September and again in December, however, the economy is still facing stiff headwinds. This will continue to have negative knock-on effects on the rest of EM.
30 Sept 2019
General Corporate Purposes is Not Enough, but Neither is the Current Approach to Sustainable Finance
With a USD2.5tn gap in the funding required to meet the UN sustainable development goals (SDG), the industry needs to move more swiftly in mobilising the capital needed to address persistent sustainable development shortcomings. Thankfully, a number of forces may be conspiring to provide an important tailwind for sustainable finance. But the industry needs to hunker down and address some key…
25 Sept 2019
Brazil: Between Good Intentions and Harsh Reality
Privatization and asset sales are on the agenda for the Bolsonaro administration as it seeks to restore the fiscus; but time is running short for the government to start delivering, warns Zeina Latif.
24 Sept 2019
Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead
We think the Fed has signaled that the bar to another cut is high. Unless the US data weakens considerably, we see rates on hold for now and this means the liquidity story for EM has worsened. Elsewhere, US-China trade talks appear to be going nowhere. With no end in sight to the trade war, we remain negative on EM.
23 Sept 2019