Fixed Income Regional Market Watch

30 Nov, 2020
  • Fixed Income Regional Market Watch report covers the range of EUR and USD state and corporate Eurobonds issued in CIS, Caucasus, Eastern Europe and extended Region
  • The positive news regarding vaccine development have boosted investor sentiments
  • Emerging market currencies and stocks have been big winners, alongside the value stocks beating the growth stocks
  • Prospects of improving demand also positively affected the commodity price dynamics
  • Government of Georgia introduced a second wave of mobility restrictions
  • GDP growth in October retreated to -3.9% YoY as opposed to 0.7% drop in September 2020
  • Higher budget deficit target was agreed with the IMF mission
  • Despite some strengthening in the regional currencies, the USD/GEL exchange rate remained at around 3.3 over the last couple of weeks
  • Share of non-residents in government securities remained stable at 11.0% in October
  • Central Bank of Turkey delivered long expected rate hike of 475 bps setting policy rate at 15.0%
  • Russia’s GDP drop widened to -4.7% in October following the 3.0% drop in September
  • The National Bank of Ukraine left the key rate unchanged at 6.0%
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