CEEMEA EM Credit Market Wrap (15 May)   
Source: Bloomberg data (*CBBT/BGN)   
    
Metrics LevelΔ DoD
5yr UST 4.08%-8bp
10yr UST 4.46%-8bp
5s-10s UST 37.53+1bp
WTI Crude 61.3-1.8
Gold      3213+35.5
Copper 461.40.1%
iShares EM IOPV 89.8-0.1%
    
FX LevelΔ DoD
USDZAR 18.07-0.20
USDTRY 38.70-0.07
EURHUF 403.0-0.30
EURPLN 4.25+0.02
EURCZK 24.94+0.01
    
Sov bonds*              Z-SprdΔ DoD
REPHUN 5 1/2 03/26/36 225bp+7bp
POLAND 5 1/8 09/18/34 142bp+6bp
ROMANI 5 3/4 03/24/35 371bp+5bp
TURKEY 6 1/2 01/03/35 361bp+11bp
KAZAKS 4.714 04/09/35 130bp+7bp
UZBEK 6.9 02/28/32 329bp+15bp
UKRAIN 1 3/4 02/01/35 1132bp+27bp
ISRAEL 5 1/2 03/12/34 185bp+5bp
    
KSA 5 5/8 01/13/35 136bp+5bp
ADGB 5 04/30/34 75bp+9bp
QATAR 4 3/4 05/29/34 76bp+6bp
OMAN 7 3/8 10/28/32 161bp+10bp
BHRAIN 7 1/2 02/12/36 326bp+9bp
    
SOAF 7.1 11/19/36 355bp+7bp
ANGOL 8 3/4 04/14/32 887bp+34bp
ZAMBIN 5 3/4 06/30/33 773bpN/A
MOZAM 9 09/15/31 1156bp+19bp
    
NGERIA 10 3/8 12/09/34 673bp+16bp
GHANA 5 07/03/35 778bp+20bp
IVYCST 8.075 04/01/36 513bp+14bp
BENIN 8 3/8 01/23/41 523bp+13bp
SENEGL 6 1/4 05/23/33 827bp+16bp
    
MOROC 6 1/2 09/08/33 201bp+8bp
EGYPT 7.3 09/30/33 609bp+9bp
KENINT 9 1/2 03/05/36 725bp+16bp
RWANDA 5 1/2 08/09/31 507bp+15bp
    
Corp bonds*              Z-SprdΔ DoD
ESKOM 8.45 08/10/28 373bp+3bp
SASOL 8 3/4 05/03/29 641bp+17bp
SGLSJ 4 1/2 11/16/29 479bp+8bp
GFISJ 6 1/8 05/15/29 146bp+8bp
OCPMR 6 3/4 05/02/34 264bp+9bp
FMCN 8 03/01/33 424bp+9bp
IHS 8 1/4 11/29/31 466bp+9bp
AZURGY 8 1/8 01/23/30 504bp+14bp
SEPLLN 9 1/8 03/21/30 665bp+18bp
    
ACKAF 8 1/2 09/25/28 340bp+5bp
AEFES 3 3/8 06/29/28 367bp+9bp
SISETI 8 5/8 05/02/32 469bp+6bp
TCELLT 7.45 01/24/30 330bp+8bp
TURKTI 7 3/8 05/20/29 324bp+8bp
ULKER 7 7/8 07/08/31 371bp+12bp
PKNPW 6 01/30/35 186bp+2bp
ROMGAZ 4 3/4 10/07/29 290bp+6bp
MVMHU 6 1/2 03/13/31 234bp+3bp
MLGPW 6 1/8 10/15/29 318bp+5bp
    
NAVOIM 6.95 10/17/31 326bp+8bp
JSCKSP 6 1/4 03/26/30 288bp-5bp
METINV 7 3/4 10/17/29 1044bp+10bp
ARAGVI 11 1/8 11/20/29 763bp+10bp
    
ARAMCO 5 1/4 07/17/34 137bp+7bp
MAADEN 5 1/4 02/13/30 121bp+6bp
SABIC 2.15 09/14/30 113bp+4bp
SECO 5.225 02/18/30 130bp+7bp
STCAB 3.89 05/13/29 93bp+7bp
    
ABDPOC 2 1/2 05/06/31 96bp+7bp
ADNOCM 4 1/2 09/11/34 108bp+8bp
ALDAR 5 1/4 03/25/35 123bp+7bp
DAMACR 7 08/26/28 296bp+7bp
ETISLT 0 7/8 05/17/33 88bp+6bp
EMAAR 3.7 07/06/31 116bp+7bp
MASDAR 5 1/4 07/25/34 132bp+8bp
MUBAUH 5.294 06/04/34 128bp+7bp
TABRED 5.279 03/05/30 112bp+9bp
TAQAUH 4 3/8 10/09/31 94bp+7bp
    
DUBAEE 3 3/8 03/20/28 113bp+8bp
QPETRO 2 1/4 07/12/31 90bp+9bp
QTELQD 4 5/8 10/10/34 105bp+7bp
BEXBAH 6 1/4 01/29/35 213bp+9bp