MNI EM Credit Weekly

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EXECUTIVE SUMMARY

• Firm tone this week across regions despite copious primary supply. CEEMEA spreads continued to grind tighter. In Asia, benchmark spreads were around 2-3bp tighter. Several deals priced, including Chinese property developer Seazen. In LatAm, Argentina bonds soared on news of U.S. financial support while in Ecuador the reform to cut fuel subsidies gained traction. 

   

• Next week we expect primary supply to continue globally. In CEEMEA, we have CPI data from Türkiye. We await the IMF’s review post its visit to Kenya. In Asia, China Vanke will remain in focus, with investors looking for reassurance from Shenzhen Metro on interest payments. In LatAm, we expect more details on U.S. financial support for Argentina.

• Corps mentioned: Seazen, China Vanke, Shenszhen Metro, Hyundai Motors, Adani, Braskem and Cosan.
• Sovs mentioned: Argentina, Ecuador, Pakistan, Nigeria, Kenya, Abu Dhabi Romania, Hungary and Czechia.