Refine by sector
Latest in Venezuela

Hyperinflation accounting: Coming to an emerging market near you

Recent high inflation prints in North America and Europe have shocked many observers, leading some commentators to revise upwards their central bank rate hike forecasts. Based on the most recent announcements, we estimate that in around 20% of countr...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 22 July 2022
Hyperinflation accounting: Coming to an emerging market near you
Hyperinflation accounting: Coming to an emerging market near you

Venezuela: Hopes for sanctions relief fades as reality sets in

Venezuela's dollar bonds, defaulted and sanctioned, have jumped this month (with prices for the VENZ '27s rising 50% from around US$6.5 to US$10, based on indicative prices on Bloomberg), presumably amid demand from non-US funds. It is not even clear...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 23 March 2022
Venezuela: Hopes for sanctions relief fades as reality sets in
Venezuela: Hopes for sanctions relief fades as reality sets in

Who can plug the oil hole left by Russia?

What hole will a total Russian oil ban leave? Europe does not have the space to make such a move, suggesting that most of Russia's exports of 7mn bpd of crude are currently expected to survive the sanctions and bans. This will limit the extent to whi...
ETM Analytics Lloyd
Lloyd Miller @ ETM Analytics 10 March 2022

EM bond performance during the latest sell-off: Best and worst performers

As most EM sovereign debt trading takes a day off to recover from the recent sell-off, with the US Columbus Day holiday, we take a look at the performance of sovereign currency bonds during this period and identify the winners and losers (mainly lose...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 11 October 2021
EM bond performance during the latest sell-off: Best and worst performers
EM bond performance during the latest sell-off: Best and worst performers

IMF approves historic US$650bn SDR allocation

A US$650bn general SDR allocation has finally been agreed by the IMF, after the last hurdle to its implementation, approval by the Fund’s Board of Governors, was granted yesterday (see statement). The IMF MD, Kristalina Georgieva, called it a histori...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 3 August 2021
IMF approves historic US$650bn SDR allocation
IMF approves historic US$650bn SDR allocation

IMF gives green light to new SDR allocation

The IMF has announced finally that its Executive Board has approved a proposal for a new general SDR allocation, equivalent to US$650bn, according to a statement published late yesterday by the IMF MD Kristalina Georgieva. If approved, the SDR alloca...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 9 July 2021
IMF gives green light to new SDR allocation
IMF gives green light to new SDR allocation