Islamic Bond Sales Rising at Fastest Pace in Three Years on State Support
I can't even imagine anymore, what else will rally after ‘S. After junk and EM's, Islamic debt is the last chain before returning money to the United States. True it is, to sound alarmistically) Call for alarms))
“Investors want to be on the safe side because of the uncertainty in Europe” – what else to add:)
Yet, Really, remain (RMB denominated). For example, Mitsubishi UFJ is going . But with this China it is only clear, that nothing is clear. And the `` strategic expansion of the use of Reimbi '', this is a rather unstable support at the present time. This is if China accelerates in the issue of sovereigns, but here, too, the matter is dark to a greater extent.
There is one more idea. All sorts of infrastructure projects in all sorts of interesting countries. For example, here is India Roads. If it will be any GSE (ie. under the auspices of the state), it might be an interesting market. But so far it looks like pulling a cat by the tail.
Speaking of TIC.
I have heard about a huge jump in purchases of non-residents. At the margin, yes the race is not bad.
But there is a suggestion. We take no and divide by gross purchases. It will turn out something in the area 7%. A month earlier it was about 3%.
Now guess how much it was in the early 80s.. 20%-30% like from a bush..
And about the debt market dey-by-dey.
But something curious has been happening in the dollar funding markets. This week, the average cost banks in Europe need to pay to borrow dollars for three months has gone on rising: it was running at 46 basis points on Tuesday, up from 30 basis points earlier this month.
Meanwhile, the spread between the three-month dollar Libor and the “risk-free” Overnight Indexed Swap rate has risen to about 24bp. That does not signal as much stress as during the Lehman Brothers panic. However, it is worse than anything seen for almost a year. And unsurprisingly, that worries central bankers.
