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Near term outlook for African bonds is gloomy as inflation pressures build

Oil prices have gapped sharply lower this morning as commodities in general have taken a battering from growing recession concerns. Egypt’s GDP growth rate slowed to 0.8% q/q in Q1 from 4.6% q/q in Q4, reflecting the impact of the war in Ukraine, whi...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 1 July 2022
Global Themes / Global

What investors are thinking: Takeaways from our UK roadshow

We held a series of client meetings in London over the past fortnight, seeing over 20 clients, consisting of a mix of fixed income and equity investors in EM and Frontiers, Africa specialists, and special situations and distress funds. The meetings t...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 30 June 2022
What investors are thinking: Takeaways from our UK roadshow
What investors are thinking: Takeaways from our UK roadshow

Relative bond attractiveness in focus, bond outflows weigh on Egyptian pound

It appears that bond markets are pricing in major central bankers slowly winning the fight against inflation and inflation expectations. Democratic Republic of Congo: The World Bank has approved $750mn in funding for the DRC, including its first dire...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 30 June 2022

Africa’s bond market is dominated by South Africa, Egypt and Nigeria

Oil prices rallied for a third straight session yesterday but are on the defensive this morning as the focus is shifting back towards the weaker growth narrative. South Africa's refinery capacity has faced several challenges, such as unplanned closur...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 29 June 2022

Fiscal alarms in Kenya sound after the Senate approves higher debt ceiling

Oil remains under pressure this morning, tracking a broader slump in commodity prices as recession fears continue to rip through the markets. These include the wearing of masks in public, curbs on gathering sizes, and border checks for COVID-19. Repo...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 23 June 2022

Current account dynamics are playing a key role in African currency movements

Current account dynamics are more important than ever for African currency traders. The opposite also holds true. The Russia-Ukraine war has resulted in global trade decelerations and rising commodity prices, all of which affect countries in the regi...
ETM Analytics Alexa
Alexa Archibald @ ETM Analytics 22 June 2022