In a strategic move aimed at avoiding long-term commitments to high interest rates, the National Treasury of Kenya has turned to multiple reopenings of four short-term bonds, raising an impressive Sh222 billion since May. These bonds, boasting maturities ranging from two to five years, have seen interest rates soar to nearly 18 percent, a remarkable […]
Investors have poured a staggering $1 trillion into global money market funds in 2023, lured by the best yields available in years and growing uncertainty surrounding the US economy. This torrent of capital flowing into money market funds, primarily concentrated in the United States, sets these investment vehicles on a trajectory to receive record-breaking inflows […]
In a startling development, bond deals orchestrated by Credit Suisse and Bank of America Corp. linked to debt swaps for emerging-market issuers are facing renewed scrutiny. This comes after the International Capital Market Association (ICMA) issued fresh labeling guidelines, casting a shadow of doubt over their previous transactions. These bonds, sold over recent years to […]
Investor sentiment in South Africa has taken a notable downturn as concerns mount over the potential for a severe budget deficit, according to a recent survey conducted by Bank of America Corp. The looming prospect of a larger-than-expected deficit on November 1 has raised apprehensions, with 82% of the 11 local fund managers surveyed this […]
In a significant financial development, the Ghanaian government has announced the reopening of its debt exchange program for holders of domestic bonds who did not participate in the previous deal that concluded in February. This reopening entails offering a package of new tranches of the same bonds issued by the government as part of the […]
The Capital Markets Authority (CMA) of Kenya has granted its approval for the issuance of the country’s inaugural Sukuk Bond, paving the way for Linzi Finco Trust to embark on a groundbreaking venture. The Sukuk Bond is aimed at raising KSh. 3 billion in capital, and the generated funds will be earmarked for the construction […]
In a pivotal turn of events, U.S. Treasury yields saw a sharp increase today as the Federal Reserve made a significant announcement, indicating its intention to implement yet another rate hike before the conclusion of 2023. This development propelled two key Treasury notes to levels not seen in years. The 2-year Treasury yield soared, marking […]
Mozambique’s quest for justice and financial recovery takes center stage as the nation prepares to seek approximately $1.5 billion in damages during an upcoming trial next month. This legal battle is a response to the alleged $2 billion ‘tuna bond’ fraud that wreaked havoc on the country’s finances over the past decade. The United Kingdom’s […]
In a recent development in the investment landscape, investors have overwhelmingly chosen money market funds as their preferred investment vehicle, allocating a staggering 74.7 percent of their funds to this asset class. This trend has placed money market funds firmly ahead of other investment options, such as equity funds that focus on listed stocks. The […]
Deutsche Bank, one of the world’s leading financial institutions, has entered into a strategic partnership with Swiss cryptocurrency firm Taurus to offer custody services for cryptocurrencies and tokenized assets to institutional clients, according to an official statement released by Taurus on Thursday. This groundbreaking collaboration marks a significant milestone for Deutsche Bank, enabling the institution […]
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