5 things that happened this week:
Most emerging-market currencies fell against the dollar in the first half of 2024
Worst performers:
• Nigeria
• Egypt
• Brazil
But some were up:
• Sri Lanka
• Russia
• Pakistan
1/5
Most emerging-market currencies fell against the dollar in the first half of 2024
Worst performers:
• Nigeria
• Egypt
• Brazil
But some were up:
• Sri Lanka
• Russia
• Pakistan
1/5
Iran held first-round presidential elections
Likely result: runoff between reformist Pezeshkian & hardliner Jalili on 5 July
Turnout estimate was 40%, the lowest under the republic
2/5
bloomberg.com
Likely result: runoff between reformist Pezeshkian & hardliner Jalili on 5 July
Turnout estimate was 40%, the lowest under the republic
2/5
bloomberg.com
The UAE borrowed $1.5 bn from bond markets
Its 4th debt sale as a federal entity
GCC borrowings in 2024:
• Saudi: $17 bn
• Abu Dhabi: $5 bn
• Qatar: $2.5 bn
• Bahrain: $2 bn
• UAE: $1.5 bn
• Sharjah: $1 bn
3/5
bloomberg.com
Its 4th debt sale as a federal entity
GCC borrowings in 2024:
• Saudi: $17 bn
• Abu Dhabi: $5 bn
• Qatar: $2.5 bn
• Bahrain: $2 bn
• UAE: $1.5 bn
• Sharjah: $1 bn
3/5
bloomberg.com
Money is flowing into Egypt
Net foreign assets in the banking system turned
- from a deficit of $29 bn in Jan
- to a surplus of $14 bn in May
4/5
bloomberg.com
Net foreign assets in the banking system turned
- from a deficit of $29 bn in Jan
- to a surplus of $14 bn in May
4/5
bloomberg.com
After Biden had a catastrophic debate performance against Trump, many reached the same conclusion:
That the only hope for Democrats would be for Biden to go
That’s not the conclusion the US president reached
5/5
bloomberg.com
That the only hope for Democrats would be for Biden to go
That’s not the conclusion the US president reached
5/5
bloomberg.com
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