Analysis On Fixed Income, Fx & Equity Markets

On October 27, we highlighted the potential for a systemic crisis in the Russian banking system, which in turn would cascade through the entire economy (see Banking Sector: Potential... 2008-11-13

The Central Bank of Russia 's unexpected 1% devaluation of the rouble (versus its US$/EUR basket) on November 11 has prompted us to reassess our negative currency view. While the... 2008-11-12

At first glance, there appears little to like about Venezuelan debt right now. The sovereign remains one of the riskiest plays in Latin America, especially given that Brent crude... 2008-11-12

Just after midnight on November 10, ratings agency Fitch downgraded its sovereign ratings for Bulgaria ('BBB-'), Hungary ('BBB'), Kazakhstan ('BBB-') and Romania ('BB+'), while... 2008-11-10

The Turkish 5-year credit default swap (CDS) has smashed through our downside 450bps and 400bps targets, at one point trading at 347bps on November 5. The positive momentum carrying... 2008-11-05

The implementation of a long-mooted Russian government strategy to provide direct support to the equity market has resulted in a significant boost to the benchmark RTS stock index.... 2008-11-04

On the back of the EUR20bn IMF-led bail-out package for Hungary, announced on October 28, the European Union has significantly stepped up its level of support for member-states... 2008-10-29

We hold to our view that the Central Bank of the Republic of Turkey (CBRT) will maintain its policy rate at 16.75% through the remainder of the year. That said, on the back of the... 2008-10-23

Our view that government deposit protection measures and banking sector bail-out packages in the US and eurozone would fail to have a marked effect on Russian financial markets is... 2008-10-17

BMI 's emerging Europe team recently attended a major banking sector conference in Budapest, where we presented our views on the stability of the credit industry and regional economic... 2008-10-13