net_left Kdata Phương Thức Thanh Toán

Investors snap up record $39 billion emerging market sovereign bond splurge

14 Tháng Giêng 2023
Investors snap up record $39 billion emerging market sovereign bond splurge © Reuters. FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration//File Photo
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2979994" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"267":"Equities","8056":"Equities"};

By Jorgelina do Rosario

LONDON (Reuters) - Developing countries have sold a huge $39 billion of international bonds since the start of the year, with investors happy to pile into riskier debt as they bet global interest rates are nearing a peak.

The first half of January saw 11 countries launch more than 20 dollar- and euro-denominated bond issues. The scale of borrowing dwarfs the previous record of $26 billion raised in the same period in 2018, data from Morgan Stanley (NYSE:MS) shows.

All the sales were at least three times oversubscribed, a sign that appetite for emerging market debt is back after a year in which many countries were effectively locked out from markets as global interest rates surged.

"More and more investors are willing to deploy cash and take some risks," Merveille Paja, EEMEA sovereign credit strategist for BofA said, adding that issuers such as Romania and Hungary had offered "extremely attractive premiums" on their recently issued dollar bonds.

Investment-grade-rated Saudi Arabia is the largest borrower so far, having sold $10 billion of five-, 10- and 30-year dollar bonds.

High-yield countries have also joined the issuance frenzy. Turkey sold a $2.75 billion Eurobond at a 9.75% yield on Thursday while Mongolia is also set to tap markets.

"A coupon of about 10%-ish is quite high even by Turkey's standards," said Paul Greer, portfolio manager at Fidelity International.    

Morgan Stanley strategist Simon Waever said yields are high in historic terms, but that "most countries have no choice but to issue and absorb the higher cost".

Issuance year-to-date was already equivalent to 40% of all 2022's emerging hard-currency bond issuance, said Waever.

ROARING START

While emerging bond markets are off to a roaring start, that might not translate into a bumper year overall.

Morgan Stanley predicts total 2023 sovereign debt gross sales to hit $143 billion, driven by sales from the Middle East and North Africa and investment-grade countries in Asia. That is well above last year's multi-year low of $95 billion, but well short of 2020's record $233 billion.

Madhur Agarwal, head of Debt Capital Markets Origination Asia ex. Japan at JPMorgan (NYSE:JPM), said that while January is usually a good month for countries to issue, demand was high because "investors see we are nearing the cap on U.S. interest rate hikes and it should be more stable going forward".

Emerging economies were not alone in their push to raise cash, with U.S. corporate issuers, European governments and other parts of the fixed income universe also ramping up issuance at the start of the year, some raising funds to help offset the impact of the energy crisis.

Costa Rica and Dominican Republic are among countries that need to tap the market this year and are likely to move soon, said Carlos de Sousa, a portfolio manager at Vontobel.

"It doesn't mean this is a short window of opportunity. It may be a long one, but the countries just don't know and we don't know either," de Sousa added, stressing that only two months ago investors "were still very much on the defensive" and sitting on a pile of cash.

With almost no bonds maturing in 2023, most Sub-Saharan Africa economies don't need to issue overseas debt, de Sousa said, while Ivory Coast and Senegal will only do so if the market continues to rally.

Nigeria could muddle through this year's presidential election without borrowing if it maintains a good buffer of FX reserves, according to Paja from BofA.

"Kenya and Angola will need to tap the market, while South Africa is staying away completely this year," she said.

Để lại bình luận
Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
02-06-2023 11:07:51 (UTC+7)

EUR/USD

1.0767

+0.0005 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0767

+0.0005 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2538

+0.0011 (+0.09%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (2)

USD/JPY

138.74

-0.05 (-0.04%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (4)

AUD/USD

0.6615

+0.0044 (+0.67%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3430

-0.0019 (-0.14%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

149.39

+0.02 (+0.01%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (1)

EUR/CHF

0.9739

-0.0007 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Gold Futures

1,999.45

+3.95 (+0.20%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (4)

Silver Futures

24.067

+0.080 (+0.33%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (3)

Copper Futures

3.7363

+0.0238 (+0.64%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

70.56

+0.46 (+0.66%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (5)

Brent Oil Futures

74.77

+0.49 (+0.66%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (4)

Natural Gas Futures

2.170

+0.007 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (5)

US Coffee C Futures

183.95

+5.30 (+2.97%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (4)

Euro Stoxx 50

4,257.61

+39.57 (+0.94%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

S&P 500

4,221.02

+41.19 (+0.99%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

DAX

15,853.66

+189.64 (+1.21%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

FTSE 100

7,490.27

+44.13 (+0.59%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

Hang Seng

18,874.00

+657.09 (+3.61%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

US Small Cap 2000

1,767.94

+18.29 (+1.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

IBEX 35

9,167.50

+117.30 (+1.30%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (6)

BASF SE NA O.N.

44.850

+0.435 (+0.98%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Bayer AG NA

51.90

-0.24 (-0.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Allianz SE VNA O.N.

204.20

+4.22 (+2.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Adidas AG

150.74

-0.76 (-0.50%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

9.157

-0.003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Siemens AG Class N

156.68

+3.34 (+2.18%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (7)

Deutsche Bank AG

9.578

+0.102 (+1.08%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (4)

    EUR/USD 1.0767 ↑ Buy  
    GBP/USD 1.2538 Neutral  
    USD/JPY 138.74 Neutral  
    AUD/USD 0.6615 ↑ Buy  
    USD/CAD 1.3430 ↑ Sell  
    EUR/JPY 149.39 Neutral  
    EUR/CHF 0.9739 ↑ Sell  
    Gold 1,999.45 Neutral  
    Silver 24.067 Buy  
    Copper 3.7363 ↑ Buy  
    Crude Oil WTI 70.56 Neutral  
    Brent Oil 74.77 ↑ Buy  
    Natural Gas 2.170 ↑ Sell  
    US Coffee C 183.95 Sell  
    Euro Stoxx 50 4,257.61 Neutral  
    S&P 500 4,221.02 ↑ Buy  
    DAX 15,853.66 ↑ Buy  
    FTSE 100 7,490.27 ↑ Sell  
    Hang Seng 18,874.00 ↑ Buy  
    Small Cap 2000 1,767.94 ↑ Buy  
    IBEX 35 9,167.50 Sell  
    BASF 44.850 ↑ Buy  
    Bayer 51.90 ↑ Buy  
    Allianz 204.20 ↑ Buy  
    Adidas 150.74 ↑ Buy  
    Lufthansa 9.157 ↑ Sell  
    Siemens AG 156.68 Neutral  
    Deutsche Bank AG 9.578 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,660/ 6,700
(20/ 20) # 1,071
SJC HCM6,645/ 6,705
(5/ 5) # 1,076
SJC Hanoi6,645/ 6,707
(5/ 5) # 1,078
SJC Danang6,645/ 6,707
(5/ 5) # 1,078
SJC Nhatrang6,645/ 6,707
(5/ 5) # 1,078
SJC Cantho6,645/ 6,707
(5/ 5) # 1,078
Cập nhật 02-06-2023 11:07:53
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,982.69 +5.75 0.29%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V22.79023.240
RON 95-III22.01022.450
E5 RON 92-II20.87021.280
DO 0.05S17.94018.290
DO 0,001S-V18.80019.170
Dầu hỏa 2-K17.77018.120
ↂ Giá dầu thô thế giới
WTI $70.60 -9.93 -0.12%
Brent $74.74 -9.9 -0.12%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.280,0023.650,00
EUR24.613,3825.991,59
GBP28.653,4729.875,26
JPY164,43174,07
KRW15,4818,86
Cập nhật lúc 11:02:54 02/06/2023
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán