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Chart: Just a small move in Yield will wipe out most of the gains for the fixed income investors. A .7% move in GEM Yields will wipe out most of the gains. However volatility of Yields for GEM investors has been favorable

Source: ML, BlackRock




MidLincoln Country Eurobond Indexes Update



Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondEL SALVADOR REPUBLIC RegS 35DOMINICAN REPUBLIC RegS 21SOUTH AFRICA (REPUBLIC OF) 20SERBIA REPUBLIC OF (GOVERNMENT) RegS 20

Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondPETROLEOS DE VENEZUELA SA MTN RegS 21VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 18VENEZUELA BOLIVARIAN REPUBLIC OF RegS 26

Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondSAMARCO MINERACAO SA RegS 22PETROLEOS DE VENEZUELA SA RegS 17YPF SA RegS 18PETROBRAS GLOBAL FINANCE BV 40

Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondPETROLEOS DE VENEZUELA SA MTN RegS 21PETROLEOS DE VENEZUELA SA RegS 22PETROLEOS DE VENEZUELA SA RegS 24PETROLEOS DE VENEZUELA SA RegS 27

Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryEl SalvadorColombiaDominican RepublicCroatia (Hrvatska)Serbia

Country Average Corporate Yield Change USD Eurobonds Weekly
CountryJamaicaSouth AfricaKorea (South)ThailandIsrael

Top 30 GEM Souvereign Eurobonds by Yield
NameVENEZUELA (BOLVARIAN REPUBLIC OF) RegSPETROLEOS DE VENEZUELA SA MTN RegSPETROLEOS DE VENEZUELA SA RegS

Top 30 GEM Corporate Eurobonds by Yield
NameODEBRECHT DRILL VIII/IX RegSPETROLEOS DE VENEZUELA SA RegSSAMARCO MINERACAO SA RegS

Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameBRAZIL FEDERATIVE REPUBLIC OF (GOBRAZIL FEDERATIVE REPUBLIC OF (GOVBRAZIL FEDERATIVE REPUBLIC OF

Big Country Table - Stance, Ratings and Datamine


Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondPORTUGAL (REPUBLIC OF) 16FRANCE (REPUBLIC OF) 16CANADA (GOVERNMENT OF) 24CANADA (GOVERNMENT OF) 27

Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly
BondNETHERLANDS (KINGDOM OF) 17IRELAND (REPUBLIC OF) 17IRELAND (REPUBLIC OF) 18JAPAN (GOVERNMENT OF) 10YR #288 17

Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCountryYieldYield Change %ptsBANCA MONTE DEI PASCHI DI SIENA SP MTN RegS 20Italy19.31.90PACIFIC DRILLING SA 144A 20United States51.20.90HAPAG LLOYD AG MTN RegS 18Germany8.180.80BANCA POPOLARE DI VICENZA SCPA MTN RegS 20Italy7.470.60NAVIOS MARITIME HOLDINGS INC 144A 22United States26.10.50

Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondCountryYieldYield Change %ptsEP ENERGY LLC/EVEREST ACQUISITION 20United States18.9-2.60DENBURY RESOURCES INC 22United States10.5-2.50INTELSAT LUXEMBOURG SA 23Luxembourg33.1-2.40INTELSAT LUXEMBOURG SA 21Luxembourg39.8-2.30CALIFORNIA RESOURCES CORP 144A 22United States14.8-2.10

Top 30 DM Souvereign Eurobonds by Yield
NameISINcountryMaturityCouponYTWPORTUGAL (REPUBLIC OF)PTOTE6OE0006PortugalOct 15, 20164.204.03PORTUGAL (REPUBLIC OF)PTOTEBOE0020PortugalFeb 15, 20454.103.86PORTUGAL (REPUBLIC OF)PTOTE5OE0007PortugalApr 15, 20374.103.66

Top 30 DM Corporate Eurobonds by Yield
NameISINcountryMaturityCouponYTWAVAYA INC 144AUS053499AJ89United StatesMar 1, 202110.5064.6PACIFIC DRILLING SA 144AUS69419BAA35United StatesJun 1, 20205.3851.2CLEAR CHANNEL COMMUNICATIONS INCUS184502BT84United StatesJan 15, 201810.0046.4

Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly

BondCountryYieldYield Change % pts
EL SALVADOR REPUBLIC RegS 35El Salvador7.560.40
DOMINICAN REPUBLIC RegS 21Dominican Republic4.120.34
COLOMBIA (REPUBLIC OF) 24Colombia3.310.33
SOUTH AFRICA (REPUBLIC OF) 20South Africa2.990.32
SERBIA REPUBLIC OF (GOVERNMENT) RegS 20Serbia3.700.31
ESKOM HOLDINGS LTD RegS 21South Africa6.010.30
COLOMBIA (REPUBLIC OF) 26Colombia3.460.30
CROATIA (REPUBLIC OF) RegS 20Croatia (Hrvatska)3.490.29
COLOMBIA (REPUBLIC OF) 24Colombia3.560.28
CROATIA REPUBLIC OF (GOVERNMENT) RegS 21Croatia (Hrvatska)3.600.28
COLOMBIA (REPUBLIC OF) 37Colombia4.980.27
COLOMBIA REPUBLIC OF (GOVERNMENT) 45Colombia4.730.27
COLOMBIA (REPUBLIC OF) 41Colombia4.920.27
COLOMBIA (REPUBLIC OF) 23Colombia3.100.26
ARGENTINA REPUBLIC OF GOVERNMENT RegS 28Argentina6.200.25
COSTA RICA (REPUBLIC OF) RegS 23Costa Rica4.710.25
COLOMBIA REPUBLIC OF (GOVERNMENT) 21Colombia2.760.25
COLOMBIA REPUBLIC OF (GOVERNMENT) 44Colombia4.830.25
ESKOM HOLDINGS SOC LTD MTN RegS 23South Africa6.520.24
SOUTH AFRICA (REPUBLIC OF) 44South Africa4.960.24


Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)

BondCountryYieldYield Change %pts
PETROLEOS DE VENEZUELA SA MTN RegS 21Venezuela25.39-3.36
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22Venezuela24.63-3.11
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 18Venezuela24.27-2.61
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 26Venezuela20.78-2.49
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 23Venezuela22.88-2.10
VENEZUELA BOLIVARIAN REPUBLIC OF RegS 31Venezuela19.87-1.97
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20Venezuela22.91-1.94
PETROLEOS DE VENEZUELA SA RegS 22Venezuela25.18-1.91
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19Venezuela26.24-1.78
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 28Venezuela19.32-1.54
VENEZUELA (BOLIVARIAN REPUBLIC OF) 27Venezuela18.48-1.52
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegS 24Venezuela21.11-1.36
VENEZUELA (BOLVARIAN REPUBLIC OF) 34Venezuela18.11-1.34
PETROLEOS DE VENEZUELA SA RegS 27Venezuela16.97-1.24
PETROLEOS DE VENEZUELA SA RegS 26Venezuela19.40-1.24
PETROLEOS DE VENEZUELA SA RegS 24Venezuela22.80-1.20
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 38Venezuela15.16-1.15
VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 25Venezuela20.14-1.15
PETROLEOS DE VENEZUELA SA RegS 35Venezuela18.68-1.14
PETROLEOS DE VENEZUELA SA RegS 37Venezuela14.13-0.75


Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)

BondCountryYieldYield Change %pts
SAMARCO MINERACAO SA RegS 22Brazil26.810.92
PETROLEOS DE VENEZUELA SA RegS 17Venezuela41.120.50
YPF SA RegS 18Argentina4.020.36
PETROBRAS GLOBAL FINANCE BV 40Brazil8.230.32
PETROLEOS MEXICANOS MTN 20Mexico3.410.29
PETROLEOS MEXICANOS 18Mexico2.480.26
BANCO DE BOGOTA RegS 23Colombia5.100.26
BRASKEM FINANCE LTD RegS 22Brazil4.980.23
ECOPETROL SA 45Colombia6.660.22
PETROBRAS GLOBAL FINANCE BV 43Brazil7.900.21
KOREA DEVELOPMENT BANK 24Korea (South)2.390.21
AMERICA MOVIL SA DE CV 35Mexico4.700.20
PETROBRAS GLOBAL FINANCE BV 41Brazil8.170.20
ESKOM HOLDINGS LTD RegS 21South Africa5.910.20
PETROLEOS MEXICANOS 24Mexico4.720.19
ITAU UNIBANCO HOLDING SA RegS 20Brazil4.570.19
VNESHECONOMBANK MTN RegS 25Russian Federation5.510.18
DIGICEL GROUP LTD RegS 20Jamaica12.310.18
KOREAN DEVELOPMENT BANK 20Korea (South)1.800.18
KOREA GAS CORP MTN RegS 24Korea (South)2.400.18


Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly

BondCountryYieldYield Change %pts
PETROLEOS DE VENEZUELA SA MTN RegS 21Venezuela25.39-3.36
PETROLEOS DE VENEZUELA SA RegS 22Venezuela24.96-2.13
PETROLEOS DE VENEZUELA SA RegS 24Venezuela22.41-1.31
PETROLEOS DE VENEZUELA SA RegS 27Venezuela16.97-1.10
PETROLEOS DE VENEZUELA SA RegS 26Venezuela19.36-1.05
PETROLEOS DE VENEZUELA SA RegS 35Venezuela18.76-1.02
PETROLEOS DE VENEZUELA SA RegS 37Venezuela13.89-0.94
ODEBRECHT DRILL VIII/IX RegS 21Brazil59.76-0.62
CSN RESOURCES SA RegS 20Brazil19.24-0.56
PETROBRAS GLOBAL FINANCE BV 21Brazil5.70-0.35
CEMEX SAB DE CV RegS 21Mexico5.46-0.26
TURKIYE IS BANKASI AS RegS 21Turkey5.08-0.24
TURKIYE GARANTI BANKASI AS RegS 21Turkey4.72-0.22
PETROBRAS GLOBAL FINANCE BV 21Brazil5.45-0.22
EVERGRANDE REAL ESTATE GROUP LTD RegS 18China6.64-0.21
KAZAKHSTAN TEMIR ZHOLY FINANCE BV RegS 20Kazakhstan4.18-0.20
AKBANK TAS RegS 22Turkey4.93-0.17
PETROLEOS MEXICANOS 38Mexico6.54-0.15
STATE OIL CO OF AZERBAIJAN REPUBLI RegS 23Azerbaijan4.87-0.13
PETROBRAS GLOBAL FINANCE BV 20Brazil4.44-0.12


Country Average Sovereign Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
El Salvador7.560.40
Colombia3.770.26
Dominican Republic5.150.24
Croatia (Hrvatska)3.590.24
Serbia3.550.23
Argentina6.150.20
South Africa4.570.20
Romania3.180.18
Costa Rica5.980.17
Lithuania1.980.15
Uruguay3.990.15
Chile2.980.15
Hungary3.090.14
India3.360.14
Jamaica5.790.13
Poland2.360.11
Russian Federation3.960.11
Oman4.360.10
China2.500.10
Trinidad and Tobago4.180.10
Paraguay5.280.09
Brazil4.690.09
Peru3.340.09
Malaysia3.430.08
Philippines2.650.07
Slovak Republic1.860.07
Zambia9.020.05
Panama2.870.05
Indonesia3.770.05
Morocco3.130.04
Kenya7.190.04
Iraq9.280.04
Kazakhstan4.350.04
Mexico4.290.03
Sri Lanka5.280.02
Tunisia6.120.02
Vietnam3.970.02
Lebanon6.440.00
United States0.530.00
Ukraine8.44-0.02
Egypt5.78-0.03
Angola9.52-0.06
Gabon7.83-0.07
Turkey4.64-0.08
Ethiopia6.78-0.09
Cote D'Ivoire (Ivory Coast)5.78-0.09
Azerbaijan4.69-0.11
Pakistan5.31-0.18
Ghana9.08-0.18
Ecuador9.67-0.31
Mongolia7.39-0.37
Venezuela20.82-1.75


Country Average Corporate Yield Change USD Eurobonds Weekly

CountryAverage YieldYield Average change % pts
Jamaica12.310.18
South Africa4.570.14
Korea (South)2.200.14
Thailand2.390.11
Israel3.230.10
Colombia4.920.09
Malaysia2.210.08
Morocco4.340.08
India3.640.07
Argentina5.830.07
China3.020.07
Philippines2.540.05
Chile3.440.05
Russian Federation4.080.04
Mexico4.650.04
Qatar2.560.02
Indonesia4.200.02
United Arab Emirates2.920.02
Brazil7.830.02
Kazakhstan6.440.02
United States0.530.00
Peru2.93-0.04
Azerbaijan4.87-0.13
Turkey5.29-0.14
Venezuela22.86-1.30


Top 30 GEM Souvereign Eurobonds by Yield

NameISINcountryMaturityCouponYTW
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AN08VenezuelaOct 13, 20197.7526.24
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0025.39
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7525.18
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AC16VenezuelaAug 23, 202212.7524.63
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AD26VenezuelaDec 1, 20187.0024.27
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AG56VenezuelaDec 9, 20206.0022.91
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AA59VenezuelaMay 7, 20239.0022.88
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0022.80
VENEZUELA (BOLIVARIAN REPUBLIC OF) RegSUSP97475AP55VenezuelaOct 13, 20248.2521.11
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AE71VenezuelaOct 21, 202611.7520.78
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSXS0217249126VenezuelaApr 21, 20257.6520.14
VENEZUELA BOLIVARIAN REPUBLIC OF RegSUSP17625AD98VenezuelaAug 5, 203111.9519.87
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0019.40
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP17625AB33VenezuelaMay 7, 20289.2519.32
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7518.68
VENEZUELA (BOLIVARIAN REPUBLIC OF)US922646AS37VenezuelaSep 15, 20279.2518.48
VENEZUELA (BOLVARIAN REPUBLIC OF)US922646BL74VenezuelaJan 13, 20349.3818.11
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3816.97
VENEZUELA (BOLVARIAN REPUBLIC OF) RegSUSP97475AJ95VenezuelaMar 31, 20387.0015.16
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5014.13
ECUADOR REPUBLIC OF (GOVERNMENT) RegSXS1458514673EcuadorMar 28, 202210.759.86
ECUADOR (REPUBLIC OF) RegSXS1080330704EcuadorJun 20, 20247.959.60
ECUADOR REPUBLIC OF (GOVERNMENT) RegSXS1199929826EcuadorMar 24, 202010.509.55
ANGOLA (REPUBLIC OF) RegSXS1318576086AngolaNov 12, 20259.509.52
IRAQ (REPUBLIC OF) RegSXS0240295575IraqJan 15, 20285.809.28
ZAMBIA (REPUBLIC OF) RegSXS1267081575ZambiaJul 30, 20278.979.18
GHANA (REPUBLIC OF) RegSXS1108847531GhanaJan 18, 20268.139.17
GHANA (REPUBLIC OF) RegSXS0956935398GhanaAug 7, 20237.888.99
ZAMBIA (REPUBLIC OF) RegSXS1056386714ZambiaApr 14, 20248.508.85
UKRAINE (GOVERNMENT OF) RegSXS1303927179UkraineSep 1, 20277.758.55


Top 30 GEM Corporate Eurobonds by Yield

NameISINcountryMaturityCouponYTW
ODEBRECHT DRILL VIII/IX RegSUSG67106AA51BrazilJun 30, 20216.3559.76
PETROLEOS DE VENEZUELA SA RegSUSP7807HAK16VenezuelaNov 2, 20178.5041.12
SAMARCO MINERACAO SA RegSUSP84050AA46BrazilNov 1, 20224.1326.81
PETROLEOS DE VENEZUELA SA MTN RegSUSP7807HAP03VenezuelaNov 17, 20219.0025.39
PETROLEOS DE VENEZUELA SA RegSUSP7807HAM71VenezuelaFeb 17, 202212.7524.96
PETROLEOS DE VENEZUELA SA RegSUSP7807HAT25VenezuelaMay 16, 20246.0022.41
PETROLEOS DE VENEZUELA SA RegSUSP7807HAR68VenezuelaNov 15, 20266.0019.36
CSN RESOURCES SA RegSUSL21779AA88BrazilJul 21, 20206.5019.24
PETROLEOS DE VENEZUELA SA RegSUSP7807HAQ85VenezuelaMay 17, 20359.7518.76
PETROLEOS DE VENEZUELA SA RegSXS0294364954VenezuelaApr 12, 20275.3816.97
PETROLEOS DE VENEZUELA SA RegSXS0294367205VenezuelaApr 12, 20375.5013.89
KAZKOMMERTSBANK JSC RegSXS0867478124KazakhstanDec 21, 20225.5013.04
DIGICEL GROUP LTD RegSUSG27631AD56JamaicaSep 30, 20208.2512.31
PETROBRAS GLOBAL FINANCE BVUS71647NAN93BrazilJun 5, 21156.858.23
PETROBRAS GLOBAL FINANCE BVUS71645WAQ42BrazilJan 20, 20406.888.23
PETROBRAS GLOBAL FINANCE BVUS71647NAK54BrazilMar 17, 20447.258.17
PETROBRAS GLOBAL FINANCE BVUS71645WAS08BrazilJan 27, 20416.758.17
PETROBRAS GLOBAL FINANCE BVUS71647NAA72BrazilMay 20, 20435.637.90
VEDANTA RESOURCES PLC RegSUSG9328DAG54IndiaJun 7, 20218.257.76
VALE OVERSEAS LIMITEDUS91911TAE38BrazilJan 17, 20348.257.42
MARFRIG HOLDINGS (EUROPE) BV RegSUSN54468AF52BrazilJun 8, 20238.007.42
VALE OVERSEAS LIMITEDUS91911TAK97BrazilNov 10, 20396.887.24
PETROBRAS GLOBAL FINANCE BVUS71647NAQ25BrazilMay 23, 20268.757.15
VALE OVERSEAS LIMITEDUS91911TAH68BrazilNov 21, 20366.887.13
VALE SAUS91912EAA38BrazilSep 11, 20425.636.97
ECOPETROL SAUS279158AE95ColombiaSep 18, 20437.386.96
YPF SA RegSUSP989MJBE04ArgentinaJul 28, 20258.506.96
TURKIYE VAKIFLAR BANKASI TAO MTN RegSXS1175854923TurkeyFeb 3, 20256.886.88
JBS INVESTMENTS GMBH RegSUSA29866AB53BrazilApr 3, 20247.256.86
ECOPETROL SAUS279158AJ82ColombiaMay 28, 20455.886.66


Top 30 GEM Local (reasonably rated) Currency Bonds by Yield

NameISINcountryMaturityCouponYTW
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN6X3BrazilJan 1, 20170.0013.7
BRAZIL FEDERATIVE REPUBLIC OF (GOVBRSTNCLTN707BrazilJul 1, 20170.0013.0
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF139BrazilJan 1, 201810.0012.0
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN723BrazilJan 1, 20180.0012.0
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN756BrazilJul 1, 20180.0011.6
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF1P8BrazilJan 1, 202710.0011.4
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCLTN764BrazilJan 1, 20190.0011.4
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF147BrazilJan 1, 202310.0011.3
BRAZIL (FEDERATIVE REPUBLIC OF)BRSTNCNTF162BrazilJan 1, 201910.0011.3
BRAZIL FEDERATIVE REPUBLIC OFBRSTNCNTF170BrazilJan 1, 202510.0011.3
BRAZIL FEDERATIVE REPUBLIC OF (GOBRSTNCNTF0N5BrazilJan 1, 202110.0011.2
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BN96BrazilJan 10, 202810.259.76
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BL31BrazilJan 5, 202212.509.76
BRAZIL FEDERATIVE REPUBLIC OF (GOUS105756BT66BrazilJan 5, 20248.509.67
TURKEY (REPUBLIC OF)TRT110226T13TurkeyFeb 11, 202610.609.51
TURKEY (REPUBLIC OF)TRT240724T15TurkeyJul 24, 20249.009.51
TURKEY (REPUBLIC OF)TRT120325T12TurkeyMar 12, 20258.009.49
TURKEY (REPUBLIC OF)TRT270923T11TurkeySep 27, 20238.809.43
SOUTH AFRICA (REPUBLIC OF)ZAG000096173South AfricaFeb 28, 20488.759.36
SOUTH AFRICA (REPUBLIC OF)ZAG000107012South AfricaJan 31, 20378.509.34
RUSSIAN FEDERATIONRU000A0JRJU8Russian FederationJun 14, 20177.409.32
SOUTH AFRICA (REPUBLIC OF)ZAG000077488South AfricaFeb 28, 20416.509.31
TURKEY (REPUBLIC OF)TRT140922T17TurkeySep 14, 20228.509.25
SOUTH AFRICA (REPUBLIC OF)ZAG000030404South AfricaMar 31, 20366.259.23
RUSSIAN FEDERATIONRU000A0JS751Russian FederationApr 19, 20177.409.21
SOUTH AFRICA (REPUBLIC OF)ZAG000106998South AfricaJan 31, 20308.009.09
RUSSIAN FEDERATION RegSXS0564087541Russian FederationMar 10, 20187.858.73
SOUTH AFRICA (REPUBLIC OF)ZAG000016320South AfricaDec 21, 202610.508.71
TURKEY (REPUBLIC OF)TRT150120T16TurkeyJan 15, 202010.508.68
RUSSIAN FEDERATIONRU000A0JRCJ6Russian FederationMar 15, 20187.508.62


Big Country Table - Stance, Ratings and Datamine

NCountryNaCountryStanceAvg Sovereign YieldSov. Yield Avg Wk Change btpsAvg Corporate YieldCorp. Yield Avg Wk Change btpsGDP GrowthCountry Weight in Sov IndexCountry Weight in Corp IndexTotal GDP $ bnGDP per capita PPP $Savings to GDPInflationPopulationCurrent Account to GDPBudget Revenue to GDPGov Debt to GDPBudget Balance to GDPSandP RatingMoodysFitchDgong
TurkeyTurkeyUnderweight4.64-8.005.29-14.003.8005.69482.9518751.18621198.48415.42010.87078.559-3.61635.33621.924-1.993BB+Baa3BBB-BB-
BrazilBrazilUnderweight4.699.007.832.00-3.7985.468417.82841534.78215048.62917.1167.146206.082-2.02931.98142.944-7.144BB+Baa3BBBA-
MexicoMexicoUnderweight4.293.004.654.002.4115.425811.55521082.43117905.51920.4213.310128.632-2.56222.28648.637-4.830AAAA3BBB+BBB
PhilippinesPhilippinesOverweight2.657.002.545.006.0005.32360.4993310.3127612.58425.0832.900104.1952.61319.466-0.574BBBBaa3BBB-BBB
IndonesiaIndonesiaOverweight3.775.004.202.004.9005.26172.5203936.95511633.40932.4814.500258.802-2.59013.967-2.698BB+Baa3BBB-BBB-
RussiaRussian FederationOverweight3.9611.004.084.00-1.8495.18629.21731132.73925185.53125.5027.901146.3004.23530.692-4.287BB+Ba1BBB-A
ColombiaColombiaOverweight3.7726.004.929.002.5024.39072.5946253.24014171.18517.3505.29148.750-5.98225.53942.155-1.968BBBBaa2BBBBBB+
ChinaChinaOverweight2.5010.003.027.006.4904.28997.670711383.03315095.20744.4251.8001381.4542.60428.357-2.884AA-Aa3A+AA+
HungaryHungaryOverweight3.0914.002.3004.0916117.72927145.74527.5251.2009.8355.38644.59271.042BBBa1BB+BBB-
PolandPolandUnderweight2.3611.003.5713.6866473.50127670.46318.8410.48138.003-1.75739.35626.071-3.374A-A2A-A-
South AfricaSouth AfricaUnderweight4.5720.004.5714.000.6123.63561.4357266.21313166.21314.4036.90055.831-4.36730.13946.222-3.178BBB-Baa1BBBA
VenezuelaVenezuelaUnderweight20.82-175.0022.86-130.00-8.0003.50803.3616185.61115251.50713.053720.03631.416-6.55213.974BB2B+BB+
PeruPeruOverweight3.349.002.93-4.003.7443.21841.3003178.64312580.60320.8003.41832.405-3.88120.4527.543-1.715BBB+A3BBB+BBB+
KazakhstanKazakhstanOverweight4.354.006.442.000.1353.09412.3742116.15124176.91423.2469.00017.947-3.96418.379-26.952-3.983BBB+Baa2BBBBBB-
CroatiaCroatia (Hrvatska)Overweight3.5924.001.9003.062049.92822296.21921.3320.8004.2042.65443.743-2.655BB+Baa3BBBBBB-
LebanonLebanonUnderweight6.440.001.0003.036752.79718425.821-1.1552.0004.597-21.33219.529134.941-13.571BB1B
UkraineUkraineUnderweight8.44-2.001.4812.603083.5508185.25813.50313.04042.501-2.58637.83390.593-2.914BBB-Caa1CCCB-
ArgentinaArgentinaOverweight6.1520.005.837.00-1.0072.11160.2414437.85622303.20516.20524.95343.564-1.65735.844-5.976SDCaa1RDD
LithuaniaLithuaniaUnderweight1.9815.002.7342.039943.02429716.64715.8301.4302.875-3.04733.85139.413-0.658A-Baa1A-BBB-
RomaniaRomaniaUnderweight3.1818.004.2002.0348181.94421916.39522.7531.50019.869-1.73330.769-3.032BBB-Baa3BBB-BB+
ChileChileOverweight2.9815.003.445.001.5371.85042.5142235.41923803.28320.0583.52718.196-2.10023.512-1.137-2.325AA-Aa3A+AA
UruguayUruguayUnderweight3.9915.001.3871.771953.14521944.29614.8709.0803.427-3.94228.46925.729-3.931BBB-Baa2BBB-BB+
SerbiaSerbiaUnderweight3.5523.001.7501.675337.38114047.02614.3712.5897.132-4.41140.18875.454-2.825BB-B1B+BB-
MalaysiaMalaysiaOverweight3.438.002.218.004.4001.53970.9447309.26227278.20028.0223.13131.5232.33620.492-3.667A-A3A-A+
Dominican RepublicDominican RepublicUnderweight5.1524.005.4001.431271.43315776.94719.9523.34010.098-1.67314.58135.109-2.603B+B1B
PanamaPanamaUnderweight2.875.006.1001.376055.75522861.40639.9310.8004.086-6.06920.04236.362-0.574BBBBaa2BBBA-
Sri LankaSri LankaUnderweight5.282.005.0001.313884.80711127.25930.0784.06021.252-0.79313.590B+B1BB-B+
IraqIraqOverweight9.284.007.1540.8345148.41116323.3237.9212.00036.067-14.44333.063
C?te dIvoireCote D'Ivoire (Ivory Coast)Overweight5.78-9.000.8122
LatviaLatviaUnderweight3.2040.753828.17725883.26920.1821.5721.976-2.02436.02731.920-1.104A-Baa1A-BB
EcuadorEcuadorOverweight9.67-31.00-4.4970.723394.01410698.29615.4010.80316.529-2.32930.416-0.599B+Caa1BB-
AzerbaijanAzerbaijanOverweight4.69-11.004.87-13.00-2.9910.699835.14117486.51125.70418.0009.492-0.18527.927BBB-Baa3BBB-
Costa RicaCosta RicaUnderweight5.9817.004.2500.630556.90816088.60914.9353.0004.900-4.21114.537BBBaa3BB+
PakistanPakistanUnderweight5.31-18.004.5000.6084n/a5173.96014.1664.500189.870-1.13515.74558.449B-Caa1CCC
KenyaKenyaUnderweight7.194.005.9820.596064.6883338.35114.1735.80045.478-8.27320.52053.109B+B+B
Slovak RepublicSlovak RepublicOverweight1.867.003.3470.539489.79731012.83421.7200.6615.418-0.98338.459-2.121
GabonGabonOverweight7.83-7.003.1820.514114.16619149.89129.0092.5001.881-7.20219.824BB-BB-
MoroccoMoroccoUnderweight3.134.004.348.002.2560.49590.8213108.0968349.71234.7881.30033.8270.42325.27163.809-4.361BBB-Ba1BBB-BBB
AngolaAngolaOverweight9.52-6.002.5140.403881.4977380.793-1.07919.19425.868-11.58821.571BB-Ba3BB-BB-
ZambiaZambiaOverweight9.025.003.4250.389819.1173917.73826.45114.30016.717-3.80716.91655.466B+B+
VietnamVietnamUnderweight3.972.006.3000.3652201.3616399.67426.6372.00092.6370.56221.658BB-B1B+B+
El SalvadorEl SalvadorUnderweight7.5640.002.5000.359327.3278558.82711.1661.8506.403-3.02718.476BB-Ba2BB-
ParaguayParaguayUnderweight5.289.002.8930.351726.8048905.02415.0354.5007.115-1.23921.75622.157-2.597BB-B1B+
EgyptEgyptUnderweight5.78-3.003.2560.3465n/a12113.09410.61110.23390.203-5.33921.77780.803-11.119CCC+Caa1B-B-
GhanaGhanaUnderweight9.08-18.004.5320.317738.1714390.97416.77312.36927.573-7.22020.96772.075BB+B
MongoliaMongoliaOverweight7.39-37.000.4060.212711.65212133.48319.2053.7103.014-10.65225.965BB-B1B+BB-
Hong KongHong KongUnderweight3.0607AAAAa1AA+AAA
IndiaIndiaUnderweight3.3614.003.647.007.4544.85822288.7156598.97031.2445.1371309.713-1.50620.982-6.959BBB-Baa3BBB-BBB+
IsraelIsraelUnderweight3.2310.002.8471.0819306.19434335.65323.8750.4548.5284.04537.25362.598-3.593A+A1AA-
JamaicaJamaicaUnderweight5.7913.0012.3118.002.2060.793814.0578990.92513.2675.3002.829-2.86627.963CCC+B3B-
KoreaKorea (South)Overweight2.2014.002.6687.93031321.19637699.19335.1711.74850.8358.24520.91135.3400.625
QatarQatarOverweight2.562.003.4012.0557170.860129511.84852.6922.578-5.03632.395-122.512AAAa2AA-
SingaporeSingaporeOverweight1.7732.8012294.56086853.68647.0811.3435.58421.16421.6772.065AAAAaaAAAAAA
ThailandThailandUnderweight2.3911.002.9892.0484409.72416706.32433.4521.57868.9817.95322.307-0.050BBB+Baa1BBB+BBB
United Arab EmiratesUnited Arab EmiratesOverweight2.922.002.3704.3014325.13567946.48824.7503.2029.856-0.97627.156-273.575Aa2BBB+


Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly

BondCountryYieldYield Change % pts
PORTUGAL (REPUBLIC OF) 16Portugal4.031.31
FRANCE (REPUBLIC OF) 16France0.770.45
CANADA (GOVERNMENT OF) 24Canada0.990.22
CANADA (GOVERNMENT OF) 27Canada1.260.21
CANADA (GOVERNMENT OF) 26Canada1.150.20
CANADA (GOVERNMENT OF) 25Canada1.050.20
CANADA (GOVERNMENT OF) 29Canada1.430.20
ITALY (REPUBLIC OF) 44Italy2.380.19
AUSTRIA (REPUBLIC OF) MTN 44Austria0.880.19
NETHERLANDS (KINGDOM OF) 47Netherlands0.700.19
ITALY (REPUBLIC OF) 40Italy2.290.19
ITALY (REPUBLIC OF) 46Italy2.420.19
ITALY (REPUBLIC OF) 47Italy2.450.19
SPAIN (KINGDOM OF) 16Spain0.430.19
DENMARK (KINGDOM OF) 39Denmark0.640.18
NETHERLANDS (KINGDOM OF) 42Netherlands0.590.18
FINLAND (REPUBLIC OF) 42Finland0.700.18
CANADA (GOVERNMENT OF) 45Canada1.800.18
CANADA (GOVERNMENT OF) 41Canada1.810.18
CANADA (GOVERNMENT OF) 33Canada1.650.18


Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly

BondCountryYieldYield Change % pts
NETHERLANDS (KINGDOM OF) 17Netherlands-0.64-0.07
BELGIUM (KINGDOM OF) 17Belgium-0.62-0.04
IRELAND (REPUBLIC OF) 17Ireland-0.44-0.04
BELGIUM (KINGDOM OF) 17Belgium-0.62-0.03
IRELAND (REPUBLIC OF) 18Ireland-0.44-0.02
ITALY (REPUBLIC OF) 16Italy-0.15-0.02
JAPAN (GOVERNMENT OF) 10YR #288 17Japan-0.30-0.01
JAPAN (GOVERNMENT OF) 5YR #110 18Japan-0.31-0.01
SPAIN (KINGDOM OF) 18Spain-0.22-0.01
BELGIUM (KINGDOM OF) 17Belgium-0.59-0.01
ITALY (REPUBLIC OF) 17Italy-0.26-0.01
ITALY (REPUBLIC OF) 18Italy-0.11-0.01
ITALY (REPUBLIC OF) 17Italy-0.17-0.01
JAPAN (GOVERNMENT OF) 5YR #111 18Japan-0.31-0.01
JAPAN (GOVERNMENT OF) 5YR #105 17Japan-0.32-0.01
JAPAN (GOVERNMENT OF) 2YR #355 17Japan-0.31-0.01
JAPAN (GOVERNMENT OF) 2YR #356 17Japan-0.31-0.01
JAPAN (GOVERNMENT OF) 2YR #357 17Japan-0.32-0.01
JAPAN (GOVERNMENT OF) 2YR #358 17Japan-0.32-0.01
PORTUGAL (REPUBLIC OF) 25Portugal3.100.00


Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)

BondCountryYieldYield Change %pts
BANCA MONTE DEI PASCHI DI SIENA SP MTN RegS 20Italy19.31.90
PACIFIC DRILLING SA 144A 20United States51.20.90
HAPAG LLOYD AG MTN RegS 18Germany8.180.80
BANCA POPOLARE DI VICENZA SCPA MTN RegS 20Italy7.470.60
NAVIOS MARITIME HOLDINGS INC 144A 22United States26.10.50
FRONTIER COMMUNICATIONS CORP 25United States9.300.44
FRONTIER COMMUNICATIONS CORP 23United States8.980.43
INVENTIV HEALTH INC 144A 18United States7.130.38
FRONTIER COMMUNICATIONS CORP 22United States8.610.38
FRONTIER COMMUNICATIONS CORP 24United States9.290.38
RR DONNELLEY & SONS CO 24United States6.440.35
ICAHN ENTERPRISES LP 20United States6.100.32
SOUTHWESTERN ENERGY COMPANY 18United States3.760.31
HEXION US FINANCE CORP 20United States11.00.30
CMA CGM SA RegS 18France13.10.30
CLEAR CHANNEL COMMUNICATIONS INC 19United States18.10.30
MEMORIAL PRODUCTION PARTNERS LP 21United States27.30.30
NXP BV 144A 20Netherlands2.370.29
FRONTIER COMMUNICATIONS CORP 20United States6.250.29
RR DONNELLEY & SONS CO 21United States5.580.28


Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)

BondCountryYieldYield Change %pts
EP ENERGY LLC/EVEREST ACQUISITION 20United States18.9-2.60
DENBURY RESOURCES INC 22United States10.5-2.50
INTELSAT LUXEMBOURG SA 23Luxembourg33.1-2.40
INTELSAT LUXEMBOURG SA 21Luxembourg39.8-2.30
CALIFORNIA RESOURCES CORP 144A 22United States14.8-2.10
CLEAR CHANNEL COMMUNICATIONS INC 18United States46.4-2.00
EP ENER/EVEREST 23United States14.7-2.00
CONCORDIA HEALTHCARE CORP 144A 22Canada16.3-1.90
DENBURY RESOURCES INC 23United States10.4-1.90
MEG ENERGY CORP 144A 21Canada10.6-1.70
CONCORDIA HEALTHCARE CORP 144A 23Canada14.6-1.70
AVAYA INC 144A 21United States64.6-1.60
MEG ENERGY CORP 144A 24Canada9.67-1.53
MEG ENERGY CORP 144A 23Canada9.89-1.51
INTELSAT JACKSON HOLDINGS SA 19Luxembourg15.5-1.50
PPL ENERGY SUPPLY LLC 21United States9.73-1.37
BOMBARDIER INC 144A 18Canada2.86-1.23
WHITING PETROLEUM CORP 19United States5.45-1.17
GENON ENERGY INC 18United States22.3-1.10
WHITING PETROLEUM CORP 23United States7.06-1.08


Top 30 DM Souvereign Eurobonds by Yield

NameISINcountryMaturityCouponYTW
PORTUGAL (REPUBLIC OF)PTOTE6OE0006PortugalOct 15, 20164.204.03
PORTUGAL (REPUBLIC OF)PTOTEBOE0020PortugalFeb 15, 20454.103.86
PORTUGAL (REPUBLIC OF)PTOTE5OE0007PortugalApr 15, 20374.103.66
PORTUGAL (REPUBLIC OF)PTOTETOE0012PortugalJul 21, 20262.883.41
PORTUGAL (REPUBLIC OF)PTOTEROE0014PortugalFeb 15, 20303.883.39
PORTUGAL (REPUBLIC OF)PTOTEKOE0011PortugalOct 15, 20252.883.10
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAP3AustraliaJun 21, 20393.252.88
PORTUGAL (REPUBLIC OF)PTOTESOE0013PortugalOct 17, 20222.202.88
PORTUGAL (REPUBLIC OF)PTOTEQOE0015PortugalFeb 15, 20245.652.79
AUSTRALIA (COMMONWEALTH OF) RegSAU3TB0000192AustraliaApr 21, 20373.752.77
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAM0AustraliaJun 21, 20352.752.71
SPAIN (KINGDOM OF)ES00000128E2SpainJul 30, 20663.452.65
PORTUGAL (REPUBLIC OF)PTOTEAOE0021PortugalOct 25, 20234.952.61
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAG2AustraliaApr 21, 20334.502.54
ITALY (REPUBLIC OF)IT0005162828ItalyMar 1, 20472.702.45
ITALY (REPUBLIC OF)IT0005083057ItalySep 1, 20463.252.42
ITALY (REPUBLIC OF)IT0004923998ItalySep 1, 20444.752.38
AUSTRALIA (COMMONWEALTH OF) RegSAU3TB0000150AustraliaApr 21, 20293.252.33
ITALY (REPUBLIC OF)IT0004532559ItalySep 1, 20405.002.29
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAR9AustraliaMay 21, 20282.252.27
ITALY (REPUBLIC OF)IT0004286966ItalyAug 1, 20395.002.23
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAQ1AustraliaNov 21, 20272.752.23
AUSTRALIA (COMMONWEALTH OF) RegSAU3TB0000135AustraliaApr 21, 20274.752.17
SPAIN (KINGDOM OF)ES00000128C6SpainOct 31, 20462.902.16
AUSTRALIA (COMMONWEALTH OF) RegSAU000XCLWAI8AustraliaApr 21, 20264.252.12
ITALY (REPUBLIC OF) RegSIT0003934657ItalyFeb 1, 20374.002.09
AUSTRALIA (COMMONWEALTH OF)AU3TB0000168AustraliaApr 21, 20253.252.09
SPAIN (KINGDOM OF)ES00000124H4SpainOct 31, 20445.152.08
AUSTRALIA (COMMONWEALTH OF)AU3TB0000143AustraliaApr 21, 20242.752.02
SPAIN (KINGDOM OF)ES00000121S7SpainJul 30, 20414.701.97


Top 30 DM Corporate Eurobonds by Yield

NameISINcountryMaturityCouponYTW
AVAYA INC 144AUS053499AJ89United StatesMar 1, 202110.5064.6
PACIFIC DRILLING SA 144AUS69419BAA35United StatesJun 1, 20205.3851.2
CLEAR CHANNEL COMMUNICATIONS INCUS184502BT84United StatesJan 15, 201810.0046.4
INTELSAT LUXEMBOURG SAUS458204AP96LuxembourgJun 1, 20217.7539.8
CLAIRES STORES INC 144AUS179584AM91United StatesMar 15, 20199.0039.2
INTELSAT LUXEMBOURG SAUS458204AN49LuxembourgJun 1, 20186.7535.3
INTELSAT LUXEMBOURG SAUS458204AQ79LuxembourgJun 1, 20238.1333.1
MEMORIAL PRODUCTION PARTNERS LPUS586049AB40United StatesMay 1, 20217.6327.3
NAVIOS MARITIME HOLDINGS INC 144AUS639365AG06United StatesJan 15, 20227.3826.1
MURRAY ENERGY CORP 144AUS62704PAF09United StatesApr 15, 202111.2524.0
MEMORIAL PRODUCTION PARTNERS LPUS586049AE88United StatesAug 1, 20226.8823.7
GENON ENERGY INCUS37244DAC39United StatesOct 15, 20189.5022.3
AVAYA INC 144AUS053499AG41United StatesApr 1, 20197.0021.1
BANCA MONTE DEI PASCHI DI SIENA SP MTN RegSXS0503326083ItalyApr 21, 20205.0019.3
EP ENERGY LLC/EVEREST ACQUISITIONUS29977HAB69United StatesMay 1, 20209.3818.9
GENON ENERGY INCUS37244DAF69United StatesOct 15, 20209.8818.9
HEXION INCUS428303AM35United StatesNov 15, 20209.0018.8
CLEAR CHANNEL COMMUNICATIONS INCUS184502BN15United StatesMar 1, 202111.2518.7
CLEAR CHANNEL COMMUNICATIONS INCUS184502BL58United StatesDec 15, 20199.0018.1
CLEAR CHANNEL COMMUNICATIONS INCUS184502BG63United StatesMar 1, 20219.0017.5
IHEARTCOMMUNICATIONS INCUS45174HAC16United StatesMar 15, 202310.6317.3
AMERICAN ENERGY - PERMIAN BASIN LL 144AUS02563LAB45United StatesNov 1, 20207.1316.9
CONCORDIA HEALTHCARE CORP 144AUS206519AB61CanadaOct 21, 20229.5016.3
IHEARTCOMMUNICATIONS INCUS45174HAA59United StatesSep 15, 20229.0016.3
INTELSAT JACKSON HOLDINGS SAUS45824TAE55LuxembourgApr 1, 20197.2515.5
AMERICAN ENERGY-PERMIAN BASIN LLC 144AUS02563LAC28United StatesNov 1, 20217.3815.5
CALIFORNIA RESOURCES CORP 144AUS13057QAG29United StatesDec 15, 20228.0014.8
INTELSAT JACKSON HOLDINGS SAUS45824TAG04LuxembourgApr 1, 20217.5014.7
EP ENER/EVERESTUS268787AD07United StatesJun 15, 20236.3814.7
CONCORDIA HEALTHCARE CORP 144AUS206519AA88CanadaApr 15, 20237.0014.6