Tellimer

Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.

Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

Elizaveta Naumova
  • Elizaveta Naumova

Alfa Fixed Income Weekly: Ruble market

Last week the Russian sovereign bond market again came under pressure – the ruble curve widened 6-10 bp and 10-year OFZ closed at 7.085%. Investor interest in ruble debt dropped significantly on the back of inflationary pressure (weekly inflation totaled 6.8% y/y) and expectations of possible monetary tightening ahead of the last CBR meeting (to remind, on 10 September meeting the rate was hiked by 25 bp to 6.75%). Last Wednesday, there was again low interest in the MinFin’s weekly auctions. ...

Tatenda Makoni
  • Tatenda Makoni

Zimbabwe Consumer Sector Report; Loosening The Purse Strings?

With talk of improving local macros one of the key questions has been, ‘is the Zimbabwean Consumer now in a better position?’ Evolution of civil servants’ earnings from 2018 can be used as a benchmark for the formally employed. Salaries significantly lagged behind inflation in 2019, where y-o-y inflation reached 521% however, from 2020 there was recovery as most employers introduced some form of inflation indexing, an example being the civil servants’ allowance of US$75 that is paid in local ...

Alfa Equity Team
  • Alfa Equity Team

Alfa Morning Bulletin: 21 September 2021

Markets slid Monday on fears of potential Evergrande contagion: Global equity markets slid lower on Monday as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande. Amid the selloff and risk aversion amplified ahead of the FOMC meeting, there was a sharp retreat in Russian stocks – RTSI (- 2.5% @ 1,701) and IMOEX (-1.6% @ 3,969) – with losses across the board. Only gold miners provided a safe haven. The ruble was also under pressure (-0.8% @ 73...

Boris Krasnozhenov ... (+3)
  • Boris Krasnozhenov
  • John Walsh
  • Denis Dorofeev

Alfa Weekly Radar – Are markets facing a correction?

WILL THE MARKET SELLOFF SLIDE INTO A DEEPER CORRECTION? Global equity markets have slid into a risk-off mood as investors fear contagion from China’s property market tied to the highly indebted developer Evergrande, with little sign that the authorities in Beijing are ready to bail out the developer. Investors are also tuned into this week’s Federal Reserve meeting and whether the Fed will signal readiness to scale back stimulus. The central bank will begin its two-day meeting on Tuesday wi...

Nirgunan Tiruchelvam
  • Nirgunan Tiruchelvam

Jewellery retailers are a glittering opportunity in the Evergrande rou...

The possible default by Evergrande, the Chinese developer, has rocked the markets. Evergrande is due to honour interest payments on its two-note on Thursday. This will be a vital test of its solvency and liquidity. MTD Performance [/HPWNbbiNbOI4JkgGAu6Kc5OwGsmYHdwMRYaBjvAi.png] The S&P500 fell 1.7% overnight, in its worst day of trading since May. But the sell-off is not a universal tale of woe, as there are potential beneficiaries from the rout. GOLD AND SILVER ARE ...

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