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Bonds, stocks, EM FX and even crypto rallies on softer-than-expected US CPI

Forex: Zambian kwacha underperforming its Southern African peers. Fixed Income: Bond yields plunge as softer-than-expected US CPI prompts a readjustment in interest rate bets. Macroeconomic: Data releases this week suggest that inflation pressures in...
ETM Analytics Alexa
Alexa Archibald @ ETM Analytics 11 November 2022

Average duration of EM debt issuance declines as global rates continue to rise

Forex: FX derivates market prices in further Egyptian pound weakness as IMF deal nears. Fixed Income: Emerging market borrowers shy away from long-dated debt. Macroeconomic: Consumer prices continue to surge in Nigeria.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 18 October 2022

Fitch Ratings warns of a possible default by Ghana

Forex: Egypt goes against the tide and leaves rates on hold. Fixed Income: The belly of Kenya’s local currency bond curve is underperforming amid rising fiscal concerns. Macroeconomic: Gold miners are facing mounting costs.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 23 September 2022

Africa Needs Progress on Free Trade Agreement to Accelerate

AfCFTA aims to create a single market size of 1.3bn people with a combined annual GDP of $3.4trn. Some progress has been made on the AfCFTA, with a pilot phase underway. There is a greater need to accelerate efforts towards implementation strategies....
ETM Analytics Edmond
Edmond Muzinda @ ETM Analytics 5 September 2022

African Eurobonds are underperforming local currency bonds

Forex: Zambian kwacha outperforms peers on a quarter-to-date basis. Fixed Income: African Eurobonds are underperforming local currency bonds. Macroeconomic: Bond traders are pricing in a significant currency premium for Ghana and Egypt.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 12 August 2022

Zambia is one step closer to securing a deal with the IMF

Oil prices have plunged this morning, with the benchmark Brent crude future contract sliding to around $102.85 per barrel at the time of writing, down almost 6.75% from Friday’s close. Earlier in the week, Finance Minister Peggy Serame said that the ...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 1 August 2022