• Turkey’s central bank decision to hold the rates may be positively assessed by the market as investors had predicted some policy tightening. The main risk for most investors is the lira dynamics.
• We do not expect any market reaction to the Kazakh banks’ ratings affirmation.
• We see some risk for AK BARS Eurobonds following the Tatfondbank problems as many investors have relied on possible support from the Tatarstan government.
• S&P confirms AAA rating for Australia, but remains to be pessimistic. This announcement is neutral for the market.
• The probability that Vale and Fortescue Metals Group will create a joint venture is declining. This a neutral announcement for the market.
• Mexico’s statistical data from the retail sector continues to be sound. International reserves are stable that is a positive factor for the country’s fundamentals.
• Petrobras started to produce oil from a new deep-water field with its international partners. Coupled with oil price growth it may accelerate rigs demand in the country.
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