Choose the category below to
refine article list

Regions

Search Results

Results: 1 - 20 of 96 for 
Display 
 per page
Sort result by 
  • 29-Sep – Marginal demand for EM bonds is weak - Updated Sun September 28, 2014

    Top 3 data/events • South Korea – IP growth likely slowed due to strike and drop in exports • Japan – Key economic data point to a weak recovery • Euro area – We expect the CPI rate to remain at 0.4% y/y • Market focus • Marginal demand for ...

  • Q4 – Divergence - Updated Tue September 23, 2014

    Overview • Macro outlook • FX outlook • Rates outlook • Commodity outlook • Corporate strategy • Central bank strategy...

  • Searching for value in EM Asia fixed income markets - Updated Fri September 19, 2014

    We see the recent pull-back as an opportunity to selectively buy into EM; we expect Asia to outperform • Within high-yield Asia, we favour IDR over INR bond markets on improving fundamentals and asset rotation • Within low-yield Asia, we favour TH...

  • 15-Sep – Rotation from CEMEA into Asia to persist - Updated Sun September 14, 2014

    Top 3 data/events • China – Overseas FX deposits extend their upswing • UK – CPI inflation rate was likely unchanged in August • United States – Likely reversal in August’s IP after strong July data • Market focus • Global liquidity to remai...

  • South Korea – Mixed sentiment - Updated Thu September 4, 2014

    • Domestic demand reflects recovering consumer sentiment, but supply-side sentiment remains soft • While industrial activity signals an expansion, trade flows have weakened due to China’s slowdown • We think the BoK will stay on hold in September;...

  • Thailand – FY15 infra spending and bond supply to be light - Updated Tue September 2, 2014

    BoT likely to stay on hold; infrastructure spending and related financing expected to be light in 2015 We estimate net supply of conventional LBs at just THB 133bn in FY15, vs. THB 164bn in FY14 We are Neutral on THB bonds, as yields are low; we a...

  • Take profit on short PHP 10Y bond trade - Updated Fri August 22, 2014

    We take profit on our short PHP 10Y bond position for a gain of 30bps (entry: 3.75%, current: 4.05%) • A new PHP 10Y bond was issued at the debt switch on 15-Aug-14, which pushed up long-end yields • Local factors remain bearish for PHP bonds, ...

  • 11-Aug – Recalibrating our Asian rates views - Updated Sun August 10, 2014

    Top 3 data/events • South Korea – Unemployment likely to fall as recovery resumes • Philippines – Export growth likely accelerated in June • India – We expect an IIP improvement and a CPI pick-up • Market focus • Domestic factors support stee...

  • 05-Aug – BoT to hold; bond flows to stay positive - Updated Mon August 4, 2014

    Top 3 data/events • New Zealand – The unemployment rate likely dropped to a five-year low • Australia – Jobless rate likely rose to 6.1%, participation to 64.8% • United States – ISMs may not align • Market focus • We expect the BoT to keep i...

  • Philippines – Budget implementation time - Updated Mon August 4, 2014

    President Aquino announces a PHP 2.61tn budget for 2015, maintaining a budget deficit of 2% • Focus on social and economic services shows that the current inclusive growth policies will continue • We recommend selling PHP 10Y bonds (entry: 3.75%...

  • More inflows expected to the Thai bond market - Updated Tue July 29, 2014

    THB markets have rallied amid USD 4.2bn of bond inflows as RMFs cover underweight positions vs. index • We estimate USD 2-3bn more bond inflows, USD 1bn from benchmarked funds and the rest from ‘others’ • We hold onto our long 5Y bond vs. pay 5Y I...

  • 23-Jul – South Korea: Sentiment, not headline growth - Updated Tue July 22, 2014

    Top 3 data/events • Japan – Trade deficit likely narrowed in June • New Zealand – RBNZ expected to hike cash rate a fourth time, to 3.50% • Euro area – A temporarily soft period? • Market focus • Korea’s Q2 GDP is likely be 3.6% y/y, 0.3ppt lo...

  • South Korea – A rate cut to boost sentiment - Updated Tue July 22, 2014

    • Current economic trends and sentiment will likely receive more attention than headline economic figures • We expect a 25bps policy rate cut at the August MPC meeting • Hold KRW 5Y/10Y curve-steepening trade (entry: 20bps, current: 22bps; targe...

  • 21-Jul – AXJ impact if Ukraine crisis escalates - Updated Sun July 20, 2014

    Top 3 data/events • Australia – Inflation likely edged up, but mildly, to 3.0% y/y in Q2 • Nigeria – CBN expected to keep interest rates on hold • United States – July CPI should remain firm, but it is still ‘noisy’ • Market focus • If Ukrain...

  • Linking Russian outflows to Indonesian inflows - Updated Fri July 18, 2014

    • Q1 tensions in the Ukraine caused outflows from Russia; when tensions eased in Q2, allocations rose • New visualisations of fund positioning, new capital-flow data and recent reserve data confirm this • EM bonds, with Indonesia the primary benef...

  • 18-Jul – Indonesia: And now for the official results - Updated Thu July 17, 2014

    Top 3 data/events • Taiwan – Strong export orders data expected to boost confidence • Hong Kong – Inflation likely continued to ease… slowly • UST market – Focus returns to geopolitical risks • Market focus • Both candidates in Indonesia’...

  • SC FIRST – Buy 5Y THB bonds vs pay 5Y swaps - Updated Thu July 17, 2014

    • New allocations charts show ongoing short-covering that will continue to support Thai bonds and FX • Direction signal back to positive: add new long 5Y THB bonds vs pay 5Y swaps • Spread signal shifts down to neutral, supporting low-yield bonds ...

  • 17-Jul – Thailand on a better trajectory - Updated Wed July 16, 2014

    Top 3 data/events • Turkey – CBRT expected to cut, reluctantly • Euro area – CPI likely stayed at 0.5% • US – Housing starts likely dropped for a second consecutive month • Market focus • Economic sentiment has improved following the military ...

  • Malaysia – 3M KLIBOR to continue rising - Updated Fri July 4, 2014

    KLIBOR rates are being driven by BNM rate-hike expectations and banks preparing for LCR implementation • We expect BNM to hike rate by 25bps in July and November, as BNM cites risk of financial imbalance • KLIBOR rates will likely continue rising...

  • Q3 – Stability tends to create instability - Updated Fri June 20, 2014

    • Overview – Cross-asset volatility remains extraordinarily low due to a combination of persistent global economic slack, muted inflation and a collective G5 (US, euro area, UK, Japan and Switzerland) policy put that has all but eliminated major eco...



Go to page
  

New User

Find out more about our research

Straight2Bank User

Please access our research via your Straight2Bank account

In Media

Technology: Reshaping the global economy

Digital technology is transforming the economy and society. Adoption, not invention, has the most economic impact. Technology can lift developed countries if they embrace change. New technologies offer more opportunities than challenges for emerging markets.