Global Investing

U.S. Treasury headwinds for emerging debt

February 5, 2013

Emerging bond issuance and inflows have had a strong start to the year but can it last?

Indian markets and the promise of reform

February 4, 2013

What a difference a few months have made for Indian markets.

The rupee is 8 percent up from last summer’s record lows. Foreigners have ploughed $17 billion into Indian stocks and bonds since Sept 2012 and foreign ownership of Indian shares is at a record high 22.7 percent, Morgan Stanley reckons.  And all it has taken to change the mood has been the announcement of a few reforms (allowing foreign direct investment into retail, some fuel and rail price hikes and raising FDI limits in some sectors). A controversial double taxation law has been pushed back.  The government has sold some stakes in state-run companies (it offloaded 10 percent of Oil India last week, netting $585 million).  If the measures continue, the central bank may cut interest rates further.

Chinese firms like Europe but could do without red tape

By Reuters Staff
January 31, 2013

By Dasha Afanasieva

Europe is a likely suitor for much of the $560 billion in outbound foreign direct investment China plans to make in the five years leading to 2015, according to a survey out today.

Weekly Radar: Glass still half-full?

January 31, 2013


Banks won’t lend? Try a bond instead

January 30, 2013

When the banks won’t lend you money, head for the international debt markets.

Western European banks have been withdrawing funds from emerging Europe because of capital issues at home for the past few years, alarming international lenders so much that they formed the Vienna Initiative to help the region.

Who’s driving the equity rally?

January 29, 2013

Does the money match the story?

Perhaps the biggest investment theme of the year so far has been the extent to which long-term investors may now slowly migrate back to under-owned and under-priced equities from super-expensive safe haven bunkers such as ‘core’ government bonds, yen, Swiss francs etc to which they herded at each new gale of the 5-year-old credit storm.

Emerging Policy-Doves reign

January 28, 2013

Rate cuts are still coming thick and fast in emerging markets — in some cases because of falling inflation and in others to deter the gush of speculative international capital.

Real estate negotiations, Argentina style

January 25, 2013

There’s not too much one can do when a government minister marches into your office and essentially tells you to get lost. On April 16, 2012, the normal Monday morning routines unfolded with greater tension in the Buenos Aires offices of Spanish energy company Repsol’s YPF subsidiary. As top planning executive Carlos Jiminez and his colleagues were watching President Christina Fernandez unveil plans to seize control of YPF and nationalize Argentina’s leading energy producer, the unthinkable happened.

Has central Europe done enough to woo investors?

By Reuters Staff
January 25, 2013

By Dasha Afanasieva

Central European markets have studied hard to impress investors, says Angela Merkel, but have they passed the test?