Tellimer

Azerbaijan: Amid pessimism over oil output fall, Natural Gas is booming.

Azerbaijan: Amid pessimism over oil output fall, Natural Gas is booming | Tellimer ADB joined S&P global in downgrading Azerbaijan's growth prospects as a result of an unexpected decline in oil output

10%-ers: Number of high-yield sovereigns unchanged ytd despite HY rally.

10%-ers: Number of high-yield sovereigns unchanged ytd despite HY rally | Tellimer We count 22 countries in the EM index that with yields on US dollar sovereign bonds above 10% (15) or in default (7)

Venezuela: Opposition on the rise but fair elections still seem distant prospect.

Venezuela: Opposition on the rise but fair elections still seem distant prospect | Tellimer Opposition's primary elections in October will select candidate to stand against Maduro in next year's election

EM sovereign bond issuance falls to 12-month low in July as HY rally continues.

EM sovereign bond issuance falls to 12-month low in July as HY rally continues | Tellimer EM hard currency sovereign bond issuance fell for the fourth month running in July to just US$1bn, lowest since Jul '22

Frontier Daily, 2 August: High yield and long end leads EM spread widening.

Frontier Daily, 2 August: High yield and long end leads EM spread widening | Tellimer Lebanon topped eurobond gains again yesterday following optimism around new central bank leadership

What we got right so far in 2023 and what we got wrong.

What we got right so far in 2023 and what we got wrong | Tellimer EM assets have performed well ytd, with local currency debt up 4% and hard currency debt up 5.5% (3.1% IG, 7.9% HY)

Rate cuts in EM: Who else cuts after Chile and with what risk?.

Rate cuts in EM: Who else cuts after Chile and with what risk? | Tellimer Consensus view that EM was quicker to hike rates post-Covid than DM and core inflation is not as severe