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Cracks emerge in underlying quality as banks appear to teeter further into cautiousness
Issuer has set the stage for peers to return to public market
The sovereign priced inside paper of similar maturity from Brazil and Colombia
Data
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New issue concessions high as EM bonds struggle
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State-owned borrower seals deal at tight spread, thanks to bookrunner support
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Kristalina Georgieva has survived as the IMF’s managing director but some believe she is now a compromised figure with her credibility damaged
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The world economy is recovering strongly from the pandemic, but low and middle income countries are being left behind. They are looking to the North for vaccines, leniency on debt and fresh development financing
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A rocketing gas price is bad news for Turkey, a big energy importer, which already has concerns around higher US rates and a strengthening dollar
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Bond prices stay at distressed levels as concerns over transparency and governance suggest vital IMF programme is distant
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