CIS Economic Digest - Caught Up in a Receding Tide
CIS currencies started coming under pressure in 2Q18 as investors began reassessing EM risk amid a stronger dollar and higher global rates. This nascent trend was then sharply exacerbated by the rout in the Turkish lira in early August. For Kazakhstan and Ukraine, one outcome of the overall retreat from risk has been a significant drop in the share of nonresident holdings of local-currency government debt. Meanwhile, the still-volatile environment has given the region's central banks less room for rate cuts (Ukraine could even have tightening ahead). While economic growth across the space generally remained quite robust in 1H18, we expect some deceleration in 2H18.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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