China Economics Update PBOC steps up FX interventions Stock markets in China have had a volatile end to the month. Meanwhile, the PBOC appears to have stepped up its foreign currency interventions in order to prevent the renminbi from weakening further... 29th July 2016 · 1 min read
Global Markets Update US Treasuries, credit spreads and the hunt for yield We doubt that spreads on US corporate bonds are set to widen, even though we expect the yields of Treasuries to rise as the Fed tightens policy faster than investors currently anticipate. Past form... 29th July 2016 · 1 min read
Asia Economics Update Asian markets set the pace in July Financial markets in the region have generally got off to a good start to H2. While we remain upbeat about the prospects for Asian equities, we expect Asian currencies to weaken a little against the... 29th July 2016 · 1 min read
Japan Economics Update Bank of Japan not done yet The Bank of Japan’s decision to refrain from meaningful easing once again today has disappointedinvestors and resulted in a renewed strengthening of the yen. While we still expect the Bank to domore... 29th July 2016 · 1 min read
Africa Economics Update Africa: Naira finally breaking free The Central Bank of Nigeria has loosened its grip on the naira in recent days, causing us to review our forecast. Elsewhere, South Africa’s equities and currency have outperformed. 28th July 2016 · 1 min read
Latin America Chart Pack Brazil turning the corner The downturn in Latin America appears to have bottomed out in the second quarter of this year. Our GDP Tracker suggests that the region’s economy contracted by 1.2% y/y in Q2, compared to 1.5% y/y in... 27th July 2016 · 1 min read
Emerging Europe Economics Update Turkish markets start to stabilise Turkish financial markets have started to recoup some of their losses following the failed military coup earlier this month, but we think that the lira in particular is more likely to fall than to... 27th July 2016 · 1 min read
Japan Economics Update Don’t believe the fiscal hype Prime Minister Abe’s announcement of a huge fiscal stimulus package today provided fresh impetus to Japan’s stock market and resulted in another decline of the yen against the dollar, but the news... 27th July 2016 · 1 min read
Africa Economics Update Nigeria: CBN hikes rates despite threat to economic recovery The Central Bank of Nigeria’s latest rate hike is a belated attempt to regain control over the country’s weakening currency. We expect that the bank will tighten by at least another 200bps later this... 26th July 2016 · 1 min read
Middle East & North Africa Economics Update Gulf equities lag behind Most stock markets in the Gulf have edged up over the past month, but their performance looks poor compared with the rises seen elsewhere in the emerging world. Meanwhile, expectations of another... 26th July 2016 · 1 min read
Middle East & North Africa Chart Pack Egypt: fresh devaluation on the way Speculation has mounted in recent weeks that the Egyptian pound could be on the cusp of (another) devaluation. The initial rumours were sparked by the central bank governor, Tarek Amer, who suggested... 25th July 2016 · 1 min read
China Economics Update Capital Flows Monitor (June) Global investors pulled money out of China’s financial markets at a slightly faster pace last month, perhaps due to renewed concerns about the outlook for the renminbi. But the largest rise in foreign... 22nd July 2016 · 1 min read
India Chart Pack Capital injections too small to revive banking sector The government’s announcement this week that it will inject more capital into local banks is a positive step, but the amount is still too limited to revive the ailing sector. 22nd July 2016 · 1 min read
Africa Economics Update Nigeria: currency reforms fall short of high hopes Nigeria’s new exchange rate policy falls far short of the authorities’ bold promises and we think the currency will have to fall further over the coming 12 months or so. 21st July 2016 · 1 min read
Frontier Markets Wrap Low oil prices hitting home Oil prices have been low for some time now, but the past month has brought further evidence that this new reality is starting to hit home in energy-exporting frontier markets. Recently-released data... 21st July 2016 · 1 min read
Australia & New Zealand Chart Pack Shrugging off global and domestic uncertainty The early evidence suggests that businesses and households in Australia have not been ruffled by the UK’s vote to leave the EU and Australia’s close Federal election result. Admittedly, consumer... 21st July 2016 · 1 min read
