net_left 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
27-01-2023 14:08:51 (UTC+7)

EUR/USD

1.0872

-0.0017 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0872

-0.0017 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2371

-0.0034 (-0.28%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

USD/JPY

130.13

-0.09 (-0.07%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.7100

-0.0014 (-0.19%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (5)

Sell (3)

USD/CAD

1.3341

+0.0021 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

141.46

-0.32 (-0.23%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (4)

EUR/CHF

1.0027

+0.0007 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (1)

Gold Futures

1,924.60

-5.40 (-0.28%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.837

-0.183 (-0.76%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (2)

Copper Futures

4.2440

-0.0395 (-0.92%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Crude Oil WTI Futures

81.17

+0.16 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

87.63

+0.16 (+0.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

2.845

+0.012 (+0.42%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

167.20

+4.75 (+2.92%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (2)

Euro Stoxx 50

4,173.98

+25.87 (+0.62%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (1)

S&P 500

4,060.43

+44.21 (+1.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

15,132.85

+51.21 (+0.34%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (0)

FTSE 100

7,761.11

+16.24 (+0.21%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (4)

Hang Seng

22,685.00

+118.22 (+0.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

1,903.06

+12.75 (+0.67%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (2)

IBEX 35

9,035.60

+78.10 (+0.87%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (3)

BASF SE NA O.N.

52.620

-0.250 (-0.47%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (7)

Bayer AG NA

56.04

+0.56 (+1.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

221.60

-0.10 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

Adidas AG

145.28

-0.22 (-0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Deutsche Lufthansa AG

9.727

+0.102 (+1.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

Siemens AG Class N

144.06

+1.24 (+0.87%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (5)

Deutsche Bank AG

12.132

+0.218 (+1.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

    EUR/USD 1.0872 ↑ Buy  
    GBP/USD 1.2371 Neutral  
    USD/JPY 130.13 Sell  
    AUD/USD 0.7100 Neutral  
    USD/CAD 1.3341 ↑ Sell  
    EUR/JPY 141.46 Neutral  
    EUR/CHF 1.0027 ↑ Buy  
    Gold 1,924.60 ↑ Buy  
    Silver 23.837 Neutral  
    Copper 4.2440 Buy  
    Crude Oil WTI 81.17 ↑ Sell  
    Brent Oil 87.63 ↑ Sell  
    Natural Gas 2.845 ↑ Sell  
    US Coffee C 167.20 Neutral  
    Euro Stoxx 50 4,173.98 ↑ Buy  
    S&P 500 4,060.43 ↑ Buy  
    DAX 15,132.85 ↑ Buy  
    FTSE 100 7,761.11 Neutral  
    Hang Seng 22,685.00 ↑ Buy  
    Small Cap 2000 1,903.06 ↑ Buy  
    IBEX 35 9,035.60 ↑ Buy  
    BASF 52.620 ↑ Sell  
    Bayer 56.04 ↑ Buy  
    Allianz 221.60 ↑ Buy  
    Adidas 145.28 ↑ Sell  
    Lufthansa 9.727 ↑ Buy  
    Siemens AG 144.06 Sell  
    Deutsche Bank AG 12.132 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,720/ 6,820
(30/ 30) # 1,346
SJC HCM6,740/ 6,840
(50/ 50) # 1,369
SJC Hanoi6,740/ 6,842
(50/ 50) # 1,371
SJC Danang6,740/ 6,842
(50/ 50) # 1,371
SJC Nhatrang6,740/ 6,842
(50/ 50) # 1,371
SJC Cantho6,740/ 6,842
(50/ 50) # 1,371
Cập nhật 27-01-2023 14:08:55
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,923.02 -7.56 -0.39%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V23.01023.470
RON 95-III22.15022.590
E5 RON 92-II21.35021.770
DO 0.05S21.63022.060
DO 0,001S-V23.39023.850
Dầu hỏa 2-K21.80022.230
ↂ Giá dầu thô thế giới
WTI $81.40 -0.16 -0.19%
Brent $87.58 -0.21 -0.24%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.250,0023.620,00
EUR24.897,2126.291,37
GBP28.367,7829.577,46
JPY175,76186,07
KRW16,5020,11
Cập nhật lúc 14:02:10 27/01/2023
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán