The month-long discussions around assessing Sri Lanka’s human rights conditions concluded yesterday. The key positive is that the resolution does not direct to instituting action in international criminal court in the near term. In our view, while th...

Yesterday State Minister for Capital Markets and Money, Nivard Cabraal, confirmed that a US$1.5bn swap arrangement between the People’s Bank of China (PBoC) and Sri Lanka has been approved, prompting bonds to rally by c4-6% across the curve. Import r...

Sri Lankan eurobonds have sold off sharply in recent weeks, with the SRILAN 6.85% ‘24s falling c5.9% and its spread widening by c250bps since 3 February. While there is much speculation that the repayment request is in retaliation over the ECT decisi...

These military manoeuvres occur in the context of recent diplomatic (eg Hong Kong opposition resignation, Taiwan invited to Biden inauguration) and rhetorical jabs (eg Xi Jinping at virtual Davos, Antony Blinken at his secretary of state confirmation...

We present our top strategy picks and provide a brief description of the motivation of each one. Buy on Ethiopia 6.625% 2024, which we’ve upgraded from Hold. Despite the anticipated arrival of LNG revenues later in the decade, fiscal consolidation wi...