In most countries, the development of a government securities market has been crucial in aiding the creation of a liquid and efficient domestic debt market that facilitates parastatal, corporate and other issuance. It also signals that a country is maturing financially and is less dependent on donor funding.
Categories: Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, Sudan, Tanzania, Uganda, Angola, Botswana, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Zambia
The AFMI believes it is appropriate to produce an African Yield Curves Guidebook that will provide basic details on countries’ attempts to gradually produce and publish their own yield curve, while at the same time highlighting the challenges they face in this endeavour.
Categories: Botswana, Burundi, Central African Republic, Egypt, Ghana, Kenya, Lesotho, Madagascar, Malawi, Morocco, Namibia, Nigeria, Seychelles, South Africa, Swaziland, Tanzania, Tunisia, Uganda, Zambia
A paper prepared by the Milken Institute Center for Financial Markets
As the business cycle ages, we explore the potential upside and downside risks to our outlook. On the upside, the U.S. labor market is close to full employment, supporting both consumer spending and housing. On the downside, weak corporate profits, a strong dollar, and modest global growth are limiting business investment and export growth. Inflation is expected to rise gradually toward the Fed’s 2% target, strengthening the case for modest monetary policy tightening. However, capital flows will likely limit rate rises at the long end of the curve.
The contemporary economic recovery is one of the longest in U.S. history. The stock market has surged more than three-fold from its 2009 crisis low. Aggregate U.S. household net worth, at more than $90 trillion, has recovered to a level nearly 35% above its previous record high in 2007.
The CEEMEA primary markets saw a rather quiet week after very high primary issuance volumes over the past month. The weaker market backdrop followed greater noise around the ever closer US presidential elections. Moreover, caution gripped the markets ahead of the NFP announcement, which eventually came at 161,000 or 12,000 below consensus estimate
Subsequent to the 2008 financial crisis, African governments have found it more difficult to obtain bank funding. As a result, bonds, both domestic and sovereign, are becoming increasingly interesting to African governments as an alternative method of raising capital to fund their domestic development requirements, particularly, in the area of capital intensive infrastructure projects.
In the 25 years since its founding, the McKinsey Global Institute (MGI) has sought to develop a deeper understanding of the evolving global economy.
Categories: Algeria, Egypt, Libya, Mauritania, Morocco, Tunisia, Benin, Burkina Faso, Côte d’Ivoire, Gambia, Ghana, Guinea-Bissau, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo, Cameroon, Central African Republic, Chad, Democratic Republic of Congo, Equatorial Guinea, Gabon, Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, Sudan, Tanzania, Uganda, Angola, Botswana, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Zambia