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Near term outlook for African bonds is gloomy as inflation pressures build

Oil prices have gapped sharply lower this morning as commodities in general have taken a battering from growing recession concerns. Egypt’s GDP growth rate slowed to 0.8% q/q in Q1 from 4.6% q/q in Q4, reflecting the impact of the war in Ukraine, whi...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 1 July 2022
West Africa in Focus / Global

Higher costs for bakers raise the temperature in Nigeria and Ghana

Meanwhile, Senegal offers a ray of sunshine as the IMF approves the release of US$216mn of special drawing rights to help cushion the country from impact of the Russia-Ukraine war. This will supposedly be achieved by improving security at oil and gas...
Tellimer Research Ayobami
Ayobami Omole @ Tellimer Research 30 June 2022
Higher costs for bakers raise the temperature in Nigeria and Ghana
Higher costs for bakers raise the temperature in Nigeria and Ghana
Global Themes / Global

What investors are thinking: Takeaways from our UK roadshow

We held a series of client meetings in London over the past fortnight, seeing over 20 clients, consisting of a mix of fixed income and equity investors in EM and Frontiers, Africa specialists, and special situations and distress funds. The meetings t...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 30 June 2022
What investors are thinking: Takeaways from our UK roadshow
What investors are thinking: Takeaways from our UK roadshow

Relative bond attractiveness in focus, bond outflows weigh on Egyptian pound

It appears that bond markets are pricing in major central bankers slowly winning the fight against inflation and inflation expectations. Democratic Republic of Congo: The World Bank has approved $750mn in funding for the DRC, including its first dire...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 30 June 2022

The countries most vulnerable to tight global financial conditions – in 2 charts

Last month, we recently counted 27 countries with US$ bonds yielding more than 10% or that are in default (28 today with the addition of Turkey), a decade high and more than double the number in December 2021 (13) and three times the number in Decemb...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 29 June 2022
The countries most vulnerable to tight global financial conditions – in 2 charts
The countries most vulnerable to tight global financial conditions – in 2 charts

Africa’s bond market is dominated by South Africa, Egypt and Nigeria

Oil prices rallied for a third straight session yesterday but are on the defensive this morning as the focus is shifting back towards the weaker growth narrative. South Africa's refinery capacity has faced several challenges, such as unplanned closur...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 29 June 2022