EM

Monthly Insights: March 2019

By | 2019-03-11T13:20:38+00:00 March 11th, 2019|Finance, General, Watch This|

  Executive Summary There has been a broad decline in inflation rates across the world, including a sharp downward surprise in our own (SA) inflation print for January. Lower energy prices, a decline in raw material and machinery costs, as well as falling demand-pull inflation have been key reasons for the falling inflation trajectory [...]

Daily Market Commentary: 26 June 2018

By | 2018-06-26T09:43:26+00:00 June 26th, 2018|Markets and Research|

Today we are taking a look at: SAGBs sell-off due to global risk off limited to a few bps across the curve, despite EM rout Rand grinds weaker, tracking the TRY, despite dollar weakness across the majors, some reprieve overnight Gold eases further, while oil continues to trade sideways as the market watches OPEC actions [...]

Daily Market Commentary: 12 June 2018

By | 2018-06-12T09:04:57+00:00 June 12th, 2018|Markets and Research|

Today we are taking a look at: Government bonds traded in a narrow range after a volatile end to last week; While the local market has settled somewhat, international sentiment towards EM remains broadly negative Global optimism prevails WTI held gains near $66 a barrel as a divide between OPEC and allies deepened over whether [...]

Insights: An update on SA and EM CDS spreads

By | 2017-09-13T14:36:09+00:00 September 13th, 2017|Markets and Research|

Executive Summary: After Brazil, SA has the highest CDS spread when compared to its closest EM peers. However, EM spreads on average have been trending lower since 2016 and accelerating to the downside YTD. Much of the compression in EM and SA CDS spreads can be explained by the easier global financial conditions Currently, local [...]

Daily Market Commentary: 4 July 2017

By | 2017-07-04T09:00:04+00:00 July 4th, 2017|Markets and Research|

Today we are taking a look at: USTs off so risk trades weaker at the margin in the Asian open; SAGBs unchanged; EM should still struggle this week as we move into holiday season with core rates trading poorly Rand continues to weaken Gold continues to edge lower on the back of a stronger dollar; [...]