Fast Finance The US Federal Reserve will not raise interest rates, at least yet. Following the Fed’s announcement on Thursday, the dollar fell against many currencies (including MENASEA regional currencies that have been hammered as of late). To the extent that the Fed’s concern for Emerging Market turmoil allows it to ...
September 20, 2015Blake Goud
FAST FINANCE Continued dives in major emerging market currencies including the Ringgit, Lira and Real continues. Of these three, all had investment grade ratings before Brazil’s was cut by Standard & Poor’s from BBB- to BB+. The first move on Brazil’s sovereign ratings could be indicative of cuts to other ...
September 13, 2015Blake Goud
FAST FINANCE The surprise announcement that China would allow the renimbi to depreciate by 4.4%, thrust currencies into the spotlight. The term ‘currency war’ is back since it was popularized in 2010 by Brazil’s former finance minister Guido Mantega. Now, the competitive devaluations are spreading across the MENASEA region raising the ...
August 23, 2015Blake Goud
Fast Finance Talks over the Trans-Pacific Partnership stumbled and one of the sticking points deals with the Japanese auto supply chain which includes non-TPP countries like Thailand. The Japanese auto industry believes that strict rules about origin could harm it which show the complications of a regional approach to trade ...
August 3, 2015Blake Goud
FAST FINANCE Emerging markets are selling off in historic ways as a basket of emerging market currencies hits lows not seen since before the commodities supercycle began at the start of the millennium. Besides emerging market currency values, also sliding are foreign exchange reserves held by emerging markets, commodities ...
July 27, 2015Blake Goud
Dubai has made great strides towards being the center for sukuk listing globally. The total number of listed sukuk on NASDAQ Dubai and Dubai Financial Market accounts for $ 31.7 billion across 42 listed sukuk. Bursa Malaysia--which had previously been the most active—has the same number of listed sukuk ...
July 9, 2015Blake Goud
The current state of the green bond market. The moral and ethical imperative driving issuer and investor interest What’s in it for the issuers and investors? SRI sukuk in Malaysia: Will the GCC adopt or chart its own path The values of Islamic finance are deep rooted upon the ethical, environmental and socially responsible ...
June 24, 2015Momna Saeed
The shift in sukuk markets in 2015 to date compared to last year is not a cause for alarm, despite the huge amount of attention that it has garnered. The drop, it is true, has been notable particularly in Malaysia which is the largest source of issuance (about two-thirds of ...
June 23, 2015Blake Goud
LEVERAGE HURTS: PALM OIL EDITION Malaysia’s Sime Darby 2023 sukuk are little changed despite a ratings downgrade to A- from A with a negative outlook suggesting that investors largely expected the change. However, yields on the shorter dated 2018 sukuk tumbled back close to where they were when S&P initially ...
June 2, 2015Blake Goud