The Emerging Markets Podcast by Tellimer
Yvette Babb of William Blair on valuations in Nigeria, Kenya, Ghana, and Egypt
Aug 25, 2023
Yvette Babb of William Blair shares insights on the recent sell off of SSA sovereign bonds, discussing valuations in Nigeria, Kenya, Ghana, and Egypt. The podcast also analyzes economic situations in Nigeria and Kenya, as well as factors influencing valuations in Sub-Saharan Africa and North Africa. Egypt's debt default risk and potential IMF support are also discussed.
27:07
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Quick takeaways
- The podcast discusses the poor August performance, volatility in US Treasuries, and mixed growth dynamics in the US as factors affecting market sentiments.
- The podcast presents insights on Nigeria's Euro bonds, highlighting the impact of inflation and the need for tactical consideration of high yield compression.
Deep dives
Top-down macro views and cautious market sentiment
The podcast episode discusses top-down macro views driving market performance in emerging markets. It highlights the poor August performance, volatility in US Treasuries, and mixed growth dynamics in the US as key factors affecting market sentiments. The conversations in London revealed a low level of conviction and a cautious tone among traders and sales desks. Common themes included the mixed income codes, volatility in US Treasuries, and the impact of mixed data on global growth outlook. While some were looking for opportunistic trading, there was no strong view on market stabilization and conducive risk environment.
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