Forex: Zambian kwacha underperforming the broader Africa FX basket. Fixed Income: African Eurobonds are significantly underperforming EM Eurobonds in 2023. Macroeconomic: ECB sticks to its guns and raises rates by 50bps despite a possible global bank...

Markets are now pricing in a markedly more dovish Fed rate path post-SVB crisis, but we think repricing is excessive. Still, the prospects of marginally lower terminal Fed funds rate and weaker dollar could support EM local currency debt. We survey r...

Forex: Easing dollar demand provides some relief for the Ghanaian cedi. Fixed Income: Surging inflation and risk-off conditions come as headwinds for Ghanaian and Nigerian Eurobonds. Macroeconomic: Inflation in Southern Africa remains elevated but is...

Insurtech's weighting in South Africa's fintech ecosystem is 2.5x bigger than the EM average. While overall investment into South African fintechs has dropped substantially in 2022 compared with previous years...Digital payments is on the rise with a...

Forex: Derivatives market signals Egyptian pound drop ahead of IMF review. Fixed Income: Investors pull funds from emerging market ETFs for a fifth straight week. Macroeconomic: The big reset sees markets pricing in a US terminal rate at 5%, almost 1...

Ghanaian cedi outperforming broader African FX basket in March. Egyptian Eurobond yields surge as inflation quickens. Oil prices tumble as growth fears intensify and supply pressures ease.