Tellimer Research
Tellimer Research

Tellimer Research

Coverage: Sub Sahara Africa, Europe/CIS, MENA, Asia, LatAm
World-class macroeconomic, stock & debt market insights from Tellimer's global team of emerging markets analysts.
Location: London, Dubai, Lagos, Nairobi

Latest from Tellimer Research

US charms Africa amid a scramble with China and the EU

US-Africa Leaders Summit on 13-15 December confirms greater effort to charm Africa under Biden than Trump. Since the inaugural 2014 summit, financial pledges for Africa from China are over 4x those from the US. FDI into most larger Africa economies i...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 9 December 2022
US charms Africa amid a scramble with China and the EU
US charms Africa amid a scramble with China and the EU

Peru central bank isn't distracted by political crisis, hikes again

Central bank increased its policy rate by 25bps as expected to 7.5%, its 17th consecutive rate increase. It brings the cumulative increase to date to 725bps since the bank's post-Covid tightening cycle began in August 2021. Forward guidance is unchan...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 8 December 2022
Peru central bank isn't distracted by political crisis, hikes again
Peru central bank isn't distracted by political crisis, hikes again

Flat food prices and falling oil prices offer small relief for importers

Food prices down 15% and crude oil down 40% since March 2022 Russia-Ukraine War peak: small relief for importers. Conditions for importers are still difficult with ytd average food and oil prices 15% and 40% higher than full year 2021. Food and fuel....
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 8 December 2022
Flat food prices and falling oil prices offer small relief for importers
Flat food prices and falling oil prices offer small relief for importers

El Salvador: Tender results won't ease default concerns

Government buys back US$82mn of bonds in its second tender offer. Of this, US$63mn was in the 2023s (just 9.4% of the total outstanding) and US$19mn was in the 2025s (5% of outstanding). Default concerns will persist as expected as small operation do...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 8 December 2022
El Salvador: Tender results won't ease default concerns
El Salvador: Tender results won't ease default concerns
Flash Report / Peru

Peru president Castillo impeached and arrested, more dysfunction ahead

Castillo attempts to suspend congress, rule by decree and reform judiciary. Instead, he was impeached, arrested and succeeded by vice president Boluarte. Peru’s congress remains highly fragmented, inhibiting market-friendly reform as well a leftist l...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 8 December 2022
Peru president Castillo impeached and arrested, more dysfunction ahead
Peru president Castillo impeached and arrested, more dysfunction ahead

Fixed income strategy: 2023 outlook – virtuous circle

Sentiment towards EM has seemingly turned on expectations of a Fed pivot, with a strong November after two brutal years. The rally could be premature but, if it plays out as expected (lower yields, weaker USD), EM may enjoy a virtuous circle. We also...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 7 December 2022
Fixed income strategy: 2023 outlook – virtuous circle
Fixed income strategy: 2023 outlook – virtuous circle