Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2018 > News item |
Morning Commentary: EM bonds weaker ahead of FOMC update; Eskom holds for Thursday
By Rebecca Melvin
New York, Aug. 1 – Emerging markets bonds were weaker on Wednesday ahead of news from the U.S. Federal Reserve on monetary policy and softer currencies, and the proposed dollar bond from South Africa’s Eskom Holdings SOC Ltd. was not forthcoming.
The Eskom bond isn’t pricing until Thursday, a London-based syndicate source said.
The Johannesburg-based state-run utility is planning a government-guaranteed tranche and a non-guaranteed tranche.
Emerging markets secondary trading was weaker with some currencies under pressure, including the Turkish lira, which crept higher to 4.93 to the U.S. dollar from 4.91 on Wednesday.
Investors are watching for the conclusion of a two-day meeting of the Federal Open Market Committee. The Fed is largely expected to leave interest rates unchanged with two more rate increases expected to come in the remainder of the year.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.