As Ghana exits IMF support, Finance Minister Ken Ofori-Atta is talking up the prospects for the West-African nation harbouring grandiose ambitions for boosting infrastructure. A recent rebasing of its GDP saw its economy grow 30%, reducing its debt metrics to purportedly sustainable levels, but the latest expansionary budget received a thumbs down from investors, with its 2049 USD bond yields hitting double digits, potentially thwarting its issuance plans.

CEEMEA bonds were under pressure again, with a plunging oil price prompting a mid-week sell off before prices settled down as US market participants celebrated Thanksgiving. In the Middle East, spreads widened on the oil market collapse, and liquidity worsened in the CIS/Russian Eurobond market, according to an UAE-based asset manager, a Moscow-based analyst and a London-based trader.

This week’s collapse in oil prices has sent shockwaves across the GCC credit space, said two UAE-based asset managers and a London-based banker. Both WTI and Brent crude hit a three-year low on Tuesday (13 November), and although prices had stabilised by Thursday, a negative mood has set in, they said.

The Government of Mozambique’s proposal to restructure its 10.5% 2023 sovereign bonds, submitted today (6 November), is an important step toward reaching a final agreement, according to four market participants. However, questions remain regarding the timeline for implementation, the possibility holdout creditors may drag their feet, and the likely net present value (NPV) recovery rate.

Italy, the political situation, its widening spread and the increasingly tense relationship with the EU are as topical as Brexit, these days.

This year is once again set to be a record year for the European non-performing loans (NPL) market, according to new data from Debtwire ABS, presented yesterday (17 October) at Debtwire Week.

We learnt a lot from Debtwire Week 2018, with industry experts taking to the stage to highlight the challenges in the market.

While steep tariffs and current account deficits of late have sent emerging market (EM) currencies and equity markets into a tail spin, longer-term demographic trends may have larger consequences for asset prices in developing markets.  

Strong GDP growth and unremarkable Q2 corporate profits have imbued investors with confidence for the time being while a slightly weaker dollar is welcomed news for vulnerable emerging market economies; will a new trade deal with Mexico and a hypothetical dollarized Venezuela keep Latin America out of EM turmoil?    

Following Fed Chair Powell’s speech, content editor Matt O'Brien takes a look at how rising rates could dampen investment and risk defaults across EMs.

The summer has produced plenty of sizzle in the FX markets as nominal currency exchange-rate volatility, trade wars, punitive tariffs, virulent diplomatic posturing, and higher interest rates have pushed the greenback upward since February.

We were joined by some of the leading voices in the industry at the annual Mid-Market forum, here's what they had to say.