|
Issue
|
Sovereign rating (M/S&P/F)*
|
Duration, years
|
Average price for 12.05.10
|
Daily price change,
pct
|
Effective yield for 12.05.10
|
Daily yield change, bps
|
|
Malaysia, 2011
|
A3/A-/A-
|
1.14
|
107.00
|
-0.06
|
1.48%
|
3
|
|
South Africa, 2014
|
A3/BBB+/BBB+
|
3.62
|
110.75
|
1.13
|
3.66%
|
-29
|
|
Mexico, 2014-1
|
Baa1/BBB/BBB
|
3.38
|
112.20
|
0.25
|
2.40%
|
-7
|
|
Russia, 2030
|
Baa1/BBB/BBB
|
6.07
|
114.28
|
0.40
|
5.20%
|
-6
|
|
Tunisia, 2012
|
Âàà2/ÂÂÂ/ÂÂÂ
|
1.88
|
109.85
|
-0.15
|
2.21%
|
7
|
|
Brazil, 2030
|
Baà3/BBB-/BBB-
|
10.46
|
175.50
|
1.05
|
5.87%
|
-6
|
|
Peru, 2033
|
Baà3/BBB-/BBB-
|
11.77
|
133.63
|
0.88
|
6.14%
|
-6
|
|
Panama, 2027
|
Ba1/BB+/BBÂ-
|
10.28
|
131.50
|
1.00
|
6.03%
|
-8
|
|
Columbia, 2033
|
Ba1/BB+/BB+
|
11.02
|
143.50
|
0.50
|
6.74%
|
-4
|
|
Turkey, 2030
|
Ba2/BB/BB+
|
10.08
|
160.00
|
1.13
|
6.55%
|
-7
|
|
Indonesia, 2014-1
|
Ba2/BB/BB+
|
3.48
|
109.88
|
0.25
|
3.98%
|
-7
|
|
Philippines, 2025
|
Ba3/BB-/BB
|
8.99
|
144.66
|
0.53
|
6.11%
|
-5
|
|
Venezuela, 2027
|
B2/BB-/B+
|
7.64
|
73.77
|
-0.74
|
13.53%
|
15
|
|
Ukraine, 2013
|
B2/Â-/B-
|
2.76
|
102.00
|
0.50
|
7.03%
|
-19
|
|
Argentina, 2033-3
|
B3/B-/RD
|
8.57
|
72.13
|
1.13
|
12.14%
|
-20
|
It looks like markets believed in the massive European bailout package. Markets have been growing for the second day in a row. Sovereign issues are again in demand.
South Africa’s sovereign bonds appreciated by 1.13m pct, dropping the yield by 29 bps to 3.66%. Price for Argentina’s bonds also grew up by 1.13 pct; the yield decreased by 20 bps to 12.14%. Ukrainian issue yielded 7.03% down by 19 bps from the previous day.
Venezuela’s bond continued its yield rally. By day end it jumped by 15 bps, reaching 13.53%. Currently Venezuela has the highest default probability according to CMA Data.
Rating agencies didn’t make any changes in ratings for emerging market sovereigns yesterday.
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