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...Turkish sovereign dollar bonds maturing in March 2029 are at present trading with a yield of about 7.6 per cent....
...to cut interest rates more slowly than other major central banks....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...This indicates that the Alphaville post on how a partial World Bank guarantee might not actually be much protection against a restructuring led investors to price the Ghanaian 2030 bond in line with the...
...You can then end up with pointlessly stupid situations like Viking Global’s CEO Ole Andreas Halvorsen, whose talk at the Norwegian sovereign wealth fund’s annual investment conference has caused a minor...
...The bank takes an optimistic view, and wrote that “2024 may finally be the year that proves that an exit path to prolonged sovereign defaults indeed exists,” thanks to Zambia’s deal, along with reports that...
...Reza Baqir Former Governor, State Bank of Pakistan (2019-2022); Global Practice Leader of Sovereign Advisory Services, Alvarez & Marsal, Dubai, United Arab Emirates...
...A reversal of that status quo risked upsetting financial stability. But on Tuesday, after eight years in the negative, the Bank of Japan governor Kazuo Ueda pulled it off in smooth style....
...“Which ever way you crunch the numbers, this clearly isn’t the sort of inflation momentum where the Fed could be comfortable cutting rates,” noted Jim Reid at Deutsche Bank....
...The 10 investment banks and proprietary traders are investing a combined $172mn for a 26 per cent stake in Lutnick’s venture, called FMX. The investment will give FMX a valuation of $667mn....
...Private investors have piled into UK government bonds this year to lock in attractive yields as the Bank of England has kept interest rates at a 16-year high....
...investors, including sovereign wealth funds, pension funds and central banks....
...But there is a risk that these types of central bank intervention will become more common and persistent. Attempts to push central bank losses on commercial banks can also be a form of repression....
...Recent comments by President Xi Jinping that the People’s Bank of China (PBoC) should launch a bond-buying programme to create more domestic liquidity may be the first sign that exchange rate targeting is...
...gillan.tett@ft.com Letters in response to this column: IMF can help fix the system of sovereign debt restructuring / From Reza Baqir, Former Governor, State Bank of Pakistan (2019-2022); Global Practice...
...He has also held roles at AIG Financial Products, Morgan Stanley, the IMF and the Reserve Bank of New Zealand....
...Then, from 2022 to 2023, fears of a recession due to central bank rate hikes and disagreement over the prospects of a soft landing kept markets highly sensitive to any indication of a downward inflection...
...Théo Maret is an associate at Global Sovereign Advisory and writes a sovereign debt newsletter....
...We continue to favour high-quality sovereign debt, including US Treasuries....
..., if the data continues to disappoint, then I think the Fed will have to start re-engaging on hikes,” said Richard Clarida, an economic adviser at Pimco, who was previously vice-chair of the US central bank...
...Only half the bonds have a provision to lose their green label if projects funded are found not to meet eligibility requirements, according to the bank....
...A Bank of America note published yesterday says: By a quirk of timing, the April energy price cap reduction is likely to help propel UK inflation to target, but things are not so pretty under the hood,...
...The stance taken by VR, which is headed by Richard Deitz, a co-founder of investment bank Renaissance Capital, and others also shows how a wartime standstill on payments that was granted to Ukraine for the...
...Letter in response to this article: IMF can help fix the system of sovereign debt restructuring / From Reza Baqir, Former Governor, State Bank of Pakistan (2019-2022); Global Practice Leader of Sovereign...
...Argentina has refinanced about $50.3bn worth of peso-denominated sovereign debt in a record bond swap aimed at relieving pressure on public accounts and easing the path for libertarian President Javier Milei...
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