Market Insights & Strategy

Our weekly analysis offering a strategic outlook for the coming week, along with key macro themes and trends impacting the GCC & Egypt region. The report also includes a recap on the past week, as well as a summary of the key data releases and macro events in the week ahead; along with macro chart packs covering the MENA & Global Markets.

Our weekly analysis offering a strategic outlook for the coming week, along with key macro themes and trends impacting the GCC & Egypt region. The report also includes a recap on the past week, as well as a summary of the key data releases and macro events in the week ahead; along with macro chart packs covering the MENA & Global Markets.

By the end of this year more than 65 countries will have held national elections, including several of the world’s largest democracies such as India, Indonesia, UK and the US. But it’s the latter poll that contains the greatest element of risk from both a political and economic standpoint. In this short piece we explain why that is and what could be the most likely outcome.

In this edition we have reviewed the key primary and secondary market developments during the first half of 2024, which witnessed a significant year-on-year jump in hard currency bond issuance from the emerging markets. The GCC&E region accounted 21% of the EM issuance and Saudi Arabia emerged as the biggest sovereign issuer. The sukuk market also witnessed significant growth and remained a preferred format for issuers. The report provides a quick snapshot of market performance, relative value analysis, new issuance trend, overall size and composition of the GCC&E fixed income market etc.

Global growth remained resilient throughout much of 2024 as robust job creation and solid household finances continued to drive consumer spending. Yes, there have been some setbacks in the global macro narrative recently such as the net disappointing U.S. nonfarm payrolls report for October, even after adjusting for hurricanes and strikes as well as the poorly received UK budget all of which has been drag on sentiment.

As 2024 draws to a close, the impact of the past 12 months from conflicts to hotly contested elections will no doubt continue to be felt in the year ahead. In this piece we focus on a few of the key risks to keep an eye on in 2025, some of which are not that new but are becoming far more acute in our polarized world.

In this edition we reviewed the key primary and secondary market developments during FY 2023 and our outlook for FY 2024. The report provides a quick snapshot of market performance, relative value analysis, new issuance trend, overall size and composition of the GCC&E fixed income market etc.

In this Global Macro / Rates Outlook on 2024 we discuss the headwinds and tailwinds that will drive the economic outlook for the U.S., Europe, UK and GCC over the coming year. Optimists will argue that the stars have been aligning in recent months for the U.S. economy to experience a soft-landing. The latter has certainly been suggested by the recent resilience in U.S. retail sales data as well as easing price pressures such as PCE. In fact, some have gone so far as to label current (global) macro conditions as Goldilocks-like. Time will tell; please read on.