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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

Data

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  • Market participants expect Costa Rica will have little trouble completing a crucial bond issuance next week, with the lack of high yielding sovereign assets in Latin America expected to favour a country that has worked to improve its outlook this year.
  • Investors had three Ukrainian corporate bonds to buy this week — the first time there has ever been such a choice, according to Dealogic data. The deals defied a tricky market and political turbulence to pull off strong results.
  • Bovis Homes hits debt and equity markets — IAG swoops on €1bn Air Europa — Northern Irish HA sells US private placements in market first
  • CEE
    Serbia has returned to the euro market after only four months, tapping the line it opened in June this year and raising cash to refinance dollar obligations it faces in 2020.
  • Open interest in CME Group’s BRL/USD futures rose in the run up to the Brazilian Central Bank’s 50bp benchmark interest rate cut and has remained elevated ever since.
  • CEE
    The State Export-Import Bank of Ukraine is on screens for its first ever tier two bond, angling for a steep price.