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Latest articles in Ukraine
Macro Analysis / Global

Emerging Market sovereign bond issuance falls by 60% in July

EM hard currency sovereign bond issuance dropped to US$8.2bn in July, a fall of 60% compared to June, bringing total issuance YTD to US$131.7bn, based on our calculations using data from Bond Radar. For the year so far, 70% of issuance has been IG an...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 3 August 2020
Weekly Credit Risk Monitor / Global

Lebanon on the edge, Ukraine central bank crisis and Ecuador's alternative plan

We reiterate Hold across the curve with eurobonds accurately pricing government’s proposals, but downside risks abound. Read the full report here. Today, Ukraine’s parliament approved President Zelensky’s nomination for NBU governor, Mr Kyrylo Shevch...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 16 July 2020
Sovereign Analysis / Ukraine

Ukraine: Central bank independence under threat

We think the situation at the National Bank of Ukraine (NBU) is serious. The circumstances around the recent resignation of Ukraine’s central bank governor Yakiv Smolii on 1 July, together with other events, reveal a growing threat to the independenc...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 13 July 2020
Strategy Note / Global

China challengers in manufacturing with low cost labour (in one chart)

For manufacturing activities not easily replaced by automation or 3D printing, which countries win share from China? Low wages and scale matter most in this segment: We plot wage curve up to China in countries with over 40mn population. Labour flexib...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 13 July 2020
Macro Analysis / Global

Emerging Market sovereign bond issuance rises in June, but more still to come

EM hard currency sovereign bond issuance was US$20.8bn in June, a rise of 11% compared to May, bringing total issuance YTD to US$123.5bn, based on our calculations using data from Bond Radar. For Q2 20 as a whole, nearly three quarters has been IG, n...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 1 July 2020
Macro Analysis / Global

Emerging Markets: Growth and fiscal insights from IMF’s economic update

Fiscal deficits for emerging market economies and low-income developing countries (LIDC) are expected to run at 10.6% and 6.1% of GDP, respectively, in 2020. Mexico’s deficit is lower at 6.0% of GDP but the deep recession means that it will join the...
ING Think
ING Think 26 June 2020