Sell-off snares CEEMEA as Greece goes to the brink
The European bond sell-off finally caught up with CEEMEA debt this week as retail buyers, who had been supporting the sector, capitulated after Greece moved closer to leaving the euro. Credits most directly linked to Europe, such as the Baltic states, struggled the most but Middle Eastern names were spared.
Qatars 2022s were 25bp wider at a yield of 2.08%, whereas Lithuanias curve sold off by 60bp-70bp.
But while the differentiated widening meant that the primary market was still open for some borrowers, it had clanged shut for many. Russian credit card company Tinkoff Credit Systems, Russian Agricultural
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