Record low commodity prices are driving Sovereign Wealth Funds (SWFs) that are dependent on commodity exports to tap into reserves to plug fiscal deficits, according a latest analysis by Moody’s. “This is particularly true for Middle East and North African (MENA) sovereigns with higher reliance on oil exports and less diversified economies,” the report read. […]
The Spanish asset management industry has seen high level of inflows over the past two years, but a recent report by accelerando associates argues that the good times might not last for long. According to data from industry association Inverco, Spain’s asset management industry AUM almost doubled between the end of 2012 and the first half of 2015 – […]
Manolis Davradakis, senior economist at AXA Investment Managers, discusses the recent downgrading of Brazil and argues that more downgrades are in the pipeline for the country that could result in Brazil exiting hard currency investment grade debt indices and trigger sovereign downgrades for other emerging markets (EM) that are currently at the brink, like Turkey. […]
By Eirini Tsekeridou, Fixed Income analyst at Julius Baer Everything and everyone is on hold. All involved parties are now waiting for the outcome of the referendum before making any further decisions regarding Greece. The Greek government’s stance is not facilitating any reaction of creditors in Greece’s favour. After Greece (Sell/Speculative) missed the payment to […]
Moody’s, the ratings agency, has forecast continued low default rates for companies that have issued non investment grade debt. Its 2015 Outlook – Bond Funds: Stable Credit Strength; Buffeted by Market Volatility report suggests that there will not be a sharp deterioration in credit within bond fund portfolios over the coming year, with what it […]
Moody’s outlooks for the money market fund (MMF) sector and asset manager sector are stable, says Moody’s Investors Service in its two new industry outlooks for 2014, although MMFs face wide-ranging regulatory changes.
Standard & Poor’s has cut France’s sovereign credit rating by one notch to AA from AA+, judging President Francois Hollande’s economic reforms inadequate to spur growth.
The 2013 outlook for the global asset management industry remains stable, supported by moderate growth prospects and a return of inflows into equity funds Moody’s Investors Service says in a new Industry Outlook.
Political turmoil in Italy, with the departure of prime minister Mario Monti before the end of his term, will have limited impact on the country’s sovereign credit rating, according to rating agency Moody’s.
BNP Paribas’ economists have analysed the arguments behind credit rating agency Moody’s decision to downgrade French sovereign debt in the past week.
The outlook for Italy remains negative, and in particular for the country’s banking sector, rating agency Moody’s has warned.
Plans announced by MTS, the London Stock Exchange owned business facilitating electronic market trading market, to launch a series of euro denominated repurchase agreement indices should be ‘credit postive’ for investors in managed funds, Moody’s says.