Weekly coverage of fixed income, FX, interest rates, commodities, equities and funds across emerging markets
We have revised downwards our iron ore price forecast to an average of USD65/tonne in 2017 compared to USD70/tonne previously as Chinese demand for the ore is showing signs of cooling earlier than we expected. Nevertheless, government fiscal support to the infrastructure and construction sectors, despite being weaker than Q117, will ensure steel production holds up in 2017, sustaining demand...
Saudi Arabia's Q1 budget performance underpins our view for easing fiscal pressures in 2017 and for continued effort to improve the management of public finances. However, the pace of deficit...
Jordan's public debt will reduce as a proportion of GDP from 2018 onwards, as austerity measures and sizeable foreign aid inflows improve the kingdom's fiscal balance. A shift towards reliance on...
On May 11, the BCRP unexpectedly cut its benchmark rate by 25 basis points from 4.25% to 4.00%
We expect the Banco Central de Nicaragua will continue to devalue the c?rdoba at a steady pace in the next two years, in spite of spiking consumer price inflation. Inflation will be driven by...
The MSCI Brazil Index is set to test key technical levels, which could see the index make a break through multi-year downtrend resistance.
President Joseph Kabila announced a new cabinet on May 9 for Democratic Republic of Congo, naming a list of more than 50 ministers and deputy ministers. The composition of the new cabinet further...
We have revised down our 2017 average price forecast to USD1,250/oz from USD1,300/oz. Receding risk aversion in Europe and hawkish language from the US Federal Reserve will cap gold demand in the...
Trinidad & Tobago's reintroduction of property taxes will be test of the government's will to pursue fiscal consolidation. Though likely to prompt opposition, the effort will be key to...
Any policy missteps by the Chinese government in curbing leverage could lead to continued onshore bond sell-off and potentially spill over to the US dollar bond market, considering the dominance of Chinese investors in the offshore market. Additionally, we expect the number of defaults to rise in the coming months due to increasing refinancing needs coupled with rising borrowing costs and...