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Russia's setbacks in Ukraine reopen all endgame scenarios

Confirmed reports of major territorial gains for Ukraine in counter-offensive around Kharkiv. War exacerbated fuel and food inflation, and US dollar strength, but united most of the G7, NATO, EU. Maybe a decisive pivot but all outcomes still possible...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 12 September 2022
Russia's setbacks in Ukraine reopen all endgame scenarios
Russia's setbacks in Ukraine reopen all endgame scenarios

Fitch upgrades Mozambique, Nigeria's Q2 GDP surpasses expectations

Forex: Loan inflows to provide support for the weakening Ghanaian cedi. Fixed Income: Fitch upgrades Mozambique’s credit rating as LNG boom bolsters the country’s fiscal outlook. Macroeconomic: Have global food prices really reached peaked?
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 29 August 2022

Fitch flags concerns over Kenya’s fiscal consolidation plans, Botswana hikes

Forex: The Zambian kwacha’s strength is limiting external price pressures. Fixed Income: Fitch flags concerns over Kenya’s fiscal consolidation plans. Macroeconomic: Botswana hikes interest rates for the third consecutive time.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 26 August 2022

Egypt's Eurobond curve bull steepens, USD regains its mojo

Forex: Kenyan shilling set to remain on the back foot. Fixed Income: Egyptian Eurobonds rally after the CBE surprises markets by leaving interest rates on hold. Macroeconomic: Grain prices continue to fall as Ukraine increases exports.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 19 August 2022

Regional Fixed Income Market Watch - July 2022

Regional sovereign Eurobond market: Risk sentiments toward regional Eurobonds improved in July-22. AZERB 24 was the best performer of the month, followed by GEORGIA 26 among regional sovereign Eurobonds, with yields narrowing by 115.6bps and 78.2bps....
Galt & Taggart Giorgi
Giorgi Iremashvili @ Galt & Taggart 2 August 2022

The list of rating downgrades in Africa continues to grow

Global bonds rallied yesterday as recession risks intensified after the US posted a quarterly economic contraction for Q2. Zambia: Data from Zambia Statistics Agency showed that Zambia’s January to June copper exports fell by 0.4% y/y amid slowing gl...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 29 July 2022