Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Private placements are not unknown for CEE sovereigns, but this is the biggest for years
Market participants have highlighted drop in Uzbek bond volumes this year
Uzbek issuance has fallen to near zero after a busy few years
Bookbuilding slower than normal due to the restart of war between the US and Iran
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Remarkable resilience in the face of an uncertain future was the tale of emerging market bond prices on Wednesday as Donald Trump won the presidential election in the US, much to the surprise of EM traders themselves, who expected the risk aversion to last much longer. But the outlook for EM bonds under a Trump presidency is far from rosy. Latin America has been the clear underperformer so far but more pain is expected. -
Investor support for Turkey has proved remarkably resilient this year. A coup attempt and ensuing state of emergency, and two downgrades to junk, did little to shake support, but Turkey’s luck is running out as the attention turns to deteriorating economic indicators from the region.
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Russia plans to roll out a futures contract for crude oil by the end of this month, fulfilling a goal that has alluded the country for over 10 years but which the government believes will be a major step for its economy.
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Turkish bonds sold off some 30bp on Friday after President Recep Erdogan’s crackdown on the country’s pro-Kurdish opposition escalated with two high profile arrests. The widening is likely to halt Turkish bond issuance for this year, according to an EM DCM banker focused on the region.
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Citi has promoted its Turkey CEO into a broader role of EMEA head of non-presence countries.
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Nine banks have been mandated to arrange the financing for the leveraged buyout of Polish online marketplace Allegro, and a senior loan will be launched into syndication later this month.
