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Flash Report / Lebanon

Lebanon's government resigns amid public backlash

Prime Minister Hassan Diab has announced his government’s resignation after a weekend of public protests, including clashes with security forces, triggered by an explosion at the Beirut Port last week. Lebanon imports c85% of its food consumption, wi...
Tellimer Research Patrick Curran
Patrick Curran @ Tellimer Research 10 August 2020
Macro Analysis / Global

Egypt: July inflation decelerates; interest rates to remain unchanged

July inflation slowed down reflecting a sharp drop in Food & Beverages prices despite multiple inflationary pressures. Annual inflation driven by its heaviest constituents Food, Utilities, and Healthcare. Inflation to remain below 6.5% during 2H2020;...
Pharos Holding Sandy Eskaros
Sandy Eskaros @ Pharos Holding 10 August 2020
Weekend Reading / Global

Digital payments need digital currencies

Last month, I looked at how the Wirecard saga showed that political risk is not just an EM problem and that fintech investors need to look beyond growth to understand partnership and infrastructure risk. At the same time, I realised that, despite gro...
Tellimer Research Paul Domjan
Paul Domjan @ Tellimer Research 8 August 2020
Sovereign Analysis / Argentina

Argentina: What next after the restructuring agreement

Argentina announced an agreement on its debt restructuring with its major foreign bondholders earlier this week, subject to documentation. The deal adjusts certain payment terms and seeks to adjust some legal clauses compared to the government's prev...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 7 August 2020
Flash Report / Sri Lanka

Sri Lanka election: Rajapaksa landslide

On 5 August, Sri Lankans went to the polls to elect a new parliament, with the ruling SLPP winning 145 out of 225 seats amid 71% turnout (slightly below 75% in 2015). We think this week's rally means the good news is largely priced in and therefore d...
Tellimer Research Patrick Curran
Patrick Curran @ Tellimer Research 7 August 2020
Macro Analysis / Global

Credit:  Why the Fed’s loaded gun appears more powerful than the ECBs fired bullet

Across the curve, these tight levels do suggest there should be significantly less reverse Yankee supply, but YTD this year we pencil in €50bn in reverse Yankee supply, compared to the €56bn supplied in 2019 YTD, which went on to become a record-brea...
ING Think
ING Think 7 August 2020