Fixed Income Regional Market Watch

10 Sep, 2021
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Fixed Income Regional Market Watch report covers a range of EUR and USD state and corporate Eurobonds issued in CIS, Caucasus, Eastern Europe and extended Region

 

  • Rates on longer dated US treasury securities noticeably increased by the end of August in nominal as well as real terms
  • Inflationary expectations for US have prominently increased throughout August for 2021. As for 2022, the increase in the expected inflation was not as severe by the end of the month.
  • The market implied Fed funds rate has significantly increased in August after showing a noticeable decrease in July 2021.
  • Minor increases have been recorded in European and US equity indices in August with the FTSE 350, the STOXX 600, the S&P 500, and the MSCI World posting slight increases MoM. The MSCI Emerging Markets index fluctuated throughout the month but also posted a minor MoM increase by the end of the month.
  • Following an increase in July, gold prices remained unchanged in August, putting a stop to the elongated period of upward sloping dynamics since March 2021. Oil prices showed a minor decrease but still remain above the pre-crisis levels, posting an 4% MoM decrease by the end of August.
  • The Dollar index has posted no noticeable change and remained stable in August, following a hike in the beginning of the summer. The Emerging Markets Capital Flow Index posted a minor increase, while the Emerging Markets Currency Index remained stable in the same period.
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