Carolyn's Feed
Jul 30, 2012
via Global Investing

Emerging market debt with silver pedigree

Photo

Guarantees on emerging market debt need to be silver-plated these days after the defaults of Ukraine’s state energy firm Naftogaz and Kazakhstan’s BTA bank in recent years show implied guarantees are not worth the paper that they weren’t even written on.

Tunisia must have taken that to heart as it issued a dollar bond this month guaranteed by the United States, still rated AAA by two major ratings agencies.

Jul 27, 2012

Four arrested over Ivory Coast U.N. peacekeeper killings

LONDON (Reuters) – Four men have been arrested in connection with the ambush killings in Ivory Coast of seven U.N. peacekeepers on its border with Liberia, Ivory Coast President Alassane Ouattara said on Friday.

An adviser to Ouattara said the four had been arrested in Liberia and would be extradited to Ivory Coast to stand trial.

Jul 19, 2012
via Global Investing

Iran air strike bets on the rise

Photo

Investors are placing larger bets on the chances of an Israeli or U.S. air strike on Iran by the end of the year after a bomb on a bus carrying Israeli tourists in Bulgaria  killed seven people yesterday.

Israel’s prime minister Benjamin Netanyahu said “All the signs lead to Iran”, though Defence Minister Ehud Barak sounded more restrained and Iran denied responsibility. Oil hit a seven-week high above $106 a barrel on supply concerns over tensions in the region.

Jul 19, 2012

UK private equity firm cruises into Myanmar as sanctions ease

LONDON, July 19 (Reuters) – The easing of sanctions in
Myanmar is encouraging western portfolio investors to start
looking at the previously-restricted economy, with one
London-based private equity firm planning to invest in pleasure
cruisers there.

The country of 50 million people is rich in natural
resources such as oil and metals, and its temples and colonial
buildings should attract tourists, but Myanmar has major
infrastructure needs such as for power generation.

Jul 11, 2012

Developed or developing? Try merging markets

LONDON (Reuters) – Investors are criss-crossing the increasingly smudged line between emerging and developed markets as the euro zone crisis challenges traditional perceptions of a safe investment.

This blurring of distinctions was illustrated last month by index compiler MSCI’s surprise decision to review Greece’s stock market for downgrade to emerging market status, usually assigned to poorer countries offering lower liquidity and less open access to trade.

Jul 4, 2012

Bouncing emerging markets in thrall to euro zone

LONDON, July 4 (Reuters) – Risky emerging stock markets have
had a storming rally in the past month on a more upbeat view of
the world’s prospects, though their fate remains inextricably
linked to that of the euro zone.

The growth outlook for China – the export destination for
emerging commodity producers like Brazil and Russia – and the
impact on the oil price of tensions over Iran are also major
risks as emerging and developed economies become more
interdependent.

Jul 3, 2012
via Global Investing

If Greece can, why can’t I?

Photo

We all know that Greece finally persuaded bondholders to swap their debt for new bonds this year, averting a messy default.

But Greece is not the only country to keep investors biting their nails in 2012 over the value of their holdings – frontier market sovereign borrowers have also been tinkering with their debt payments.

Jun 29, 2012

Yield-rich emerging bonds enjoy first-half boom

LONDON, June 28 (Reuters) – Emerging market borrowers have
already met most of their 2012 external fundraising targets half
way through the year and are on course for an annual
debt-raising record,

They are benefit ting from investors favouring debt over
equity and developing markets over the troubled euro zone.

Jun 22, 2012

Oil, gloabal stocks pick up from lows, eye EU meeting

LONDON (Reuters) – Oil bounced from 18-month lows and U.S. stock index futures pointed to a higher open on Friday as investors looked to possible crisis resolution at upcoming meetings of European leaders rather than at weak data.

European stocks were down 0.4 percent after German business sentiment fell for a second straight month in June to its lowest level in more than two years, according to the Ifo think tank, adding to poor economic numbers this week from the United States, China and Europe.

Jun 22, 2012

European stocks fall, dollar up on data misery

LONDON (Reuters) – Oil briefly traded at its lowest in 18 months and European stocks fell on Friday, while the safe-haven dollar rose as weak German and U.S. data and a downgrade to some of the world’s major banks unnerved investors.

European stocks .FTEU3 dropped nearly 1 percent after data showing German business sentiment fell for a second straight month in June to its lowest level in over two years, according to the Ifo think tank.

    • About Carolyn

      "I work in London as part of the Reuters investment strategy editorial team, specialising in emerging and frontier markets. I cover emerging bond, stock and FX markets as well as global market themes, and interview emerging market policy-makers when they attend events in London. I started at Reuters in 1993, writing about foreign exchange, government bonds and Eurobonds before switching to emerging markets."
    • Follow Carolyn