Download a Slide Explaining Fixed Income Weekly

Your May FOMC Meeting Update The Fed may have a hard time overlooking the economy's recent flop ECB Meeting Comes at a Precarious Time for Markets EUR/USD: Draghi maintains dovish tone ahead of ECB June meeting BOJ 'Summary of Opinions' (April meeting) - full text BOJ April meeting summary: Overseas risks warrant current policy Sex ed talk takes center stage at BOE meeting Pound to euro exchange rate: Sterling SURGES as UK prepares for ... Hawkish central bank sends China interest rates to 2-year high China yuan firms, state banks' dollar sales offset much weaker ... UPDATE 1-Brazil's BB Seguridade beats profit estimates despite ... Banks announce reduction of interest rates after Selic cut Three charts show dawn of rate hawks in India as RBI policy turns Thirty-year India bond veteran expects RBI rate cut Russian central bank cuts key rate by 50bp in surprise move Russia: Everything is aligned for more rate cuts to follow from CBR ... Turkey's monetary tightening supports lira amid EM weakness CBT likely to keep policy rates unchanged, inflation may peak in April South Africa Central Bank Governor Says Rate Cuts Are 'Off the Table' Scope for Rate Cuts in South Africa Limited, Central Bank Says South Korea central bank chief says April rate decision was ... South Korea April inflation slows, but still near central bank target
Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondVENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22PETROLEOS DE VENEZUELA SA RegS 22VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20
Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondPETROLEOS MEXICANOS 22ETHIOPIA FEDERAL DEMOCRATIC REPUB RegS 24UKRAINE (GOVERNMENT OF) RegS 19UKRAINE (GOVERNMENT OF) RegS 23
Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondPETROLEOS DE VENEZUELA SA RegS 22PETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA MTN RegS 21PETROLEOS DE VENEZUELA SA RegS 35
Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondDIGICEL GROUP LTD RegS 20ODEBRECHT DRILL VIII/IX RegS 21DIGICEL LTD RegS 21PETROLEOS MEXICANOS 22
Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryVenezuelaEcuadorIraqTurkeyBrazil
Country Average Corporate Yield Change USD Eurobonds Weekly
CountryVenezuelaOmanKorea (South)KuwaitBarbados
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
NamePETROLEOS DE VENEZUELA SA MTN RegSPETROLEOS DE VENEZUELA SA RegSPETROLEOS DE VENEZUELA SA RegS
Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameTURKEY (REPUBLIC OF)TURKEY (REPUBLIC OF)TURKEY (REPUBLIC OF)
Big Country Table - Stance, Ratings and Datamine
Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondUK CONV GILT RegS 34UK CONV GILT RegS 44UK CONV GILT RegS 49GERMANY (FEDERAL REPUBLIC OF) 44
Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly
BondSPAIN (KINGDOM OF) 17ITALY (REPUBLIC OF) 19ITALY (REPUBLIC OF) 20ITALY (REPUBLIC OF) RegS 19
Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCountryYieldYield Change %ptsBANCA POPOLARE DI VICENZA MTN RegS 18Italy16.892.98VENETO BANCA SCPA MTN RegS 19Italy13.982.52HERTZ HOLDINGS NETHERLANDS BV RegS 19United States6.252.41GRUPO ISOLUX CORSAN SA 21Spain404.102.24HEXION INC 20United States19.882.11
Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondCountryYieldYield Change %ptsGRUPO ISOLUX CORSAN SA 21Spain138.87-11.39CONCORDIA HEALTHCARE CORP 144A 23Canada49.63-8.28GENON ENERGY INC 18United States42.64-6.39AMERICAN ENERGY - PERMIAN BASIN LL 144A 20United States10.59-3.74AMERICAN ENERGY-PERMIAN BASIN LLC 144A 21United States10.17-3.08
Top 30 DM Souvereign Eurobonds by Yield
NameISINcountryMaturityCouponYTWPORTUGAL (REPUBLIC OF)PTOTEBOE0020Portugal15-Feb-20454.104.47PORTUGAL (REPUBLIC OF)PTOTE5OE0007Portugal15-Apr-20374.104.28PORTUGAL (REPUBLIC OF)PTOTEROE0014Portugal15-Feb-20303.884.17
Top 30 DM Corporate Eurobonds by Yield
NameISINcountryMaturityCouponYTWGRUPO ISOLUX CORSAN SAXS1542318388Spain30-Dec-20210.25404.10GRUPO ISOLUX CORSAN SAXS1527710963Spain30-Dec-20213.00138.87CLAIRES STORES INC 144AUS179584AM91United States15-Mar-20199.0061.36
Country Average Sovereign+Corporate USD Yields Ordered by Weekly Change
| country | Yield | YieldChange |
| Venezuela | 25.57 | 1.67 |
| Singapore | 18.54 | 0.45 |
| Luxembourg | 6.97 | 0.33 |
| Finland | 2.81 | 0.30 |
| Ecuador | 8.82 | 0.18 |
| Iraq | 8.05 | 0.14 |
| New Zealand | 5.17 | 0.13 |
| Oman | 4.72 | 0.11 |
| Ireland | 4.75 | 0.10 |
| Hong Kong | 8.66 | 0.10 |
| Ghana | 8.24 | 0.09 |
| Dominican Republic | 5.27 | 0.07 |
| Korea (South) | 3.15 | 0.07 |
| Kuwait | 4.03 | 0.07 |
| Bahrain | 5.42 | 0.07 |
| Netherlands | 4.49 | 0.07 |
| Uruguay | 4.35 | 0.06 |
| Malaysia | 3.35 | 0.06 |
| Egypt | 6.06 | 0.06 |
| Angola | 8.76 | 0.06 |
| India | 4.42 | 0.06 |
| Thailand | 3.43 | 0.06 |
| Barbados | 5.36 | 0.06 |
| Japan | 3.20 | 0.06 |
| Argentina | 5.94 | 0.05 |
| Serbia | 3.36 | 0.05 |
| Brazil | 5.77 | 0.05 |
| Lebanon | 5.78 | 0.05 |
| Turkey | 4.99 | 0.05 |
| Bolivia | 4.88 | 0.05 |
| Taiwan | 3.71 | 0.05 |
| Russian Federation | 4.02 | 0.04 |
| Colombia | 4.52 | 0.04 |
| Cote D'Ivoire (Ivory Coast) | 6.27 | 0.04 |
| Croatia (Hrvatska) | 3.59 | 0.04 |
| Nigeria | 6.27 | 0.04 |
| China | 3.88 | 0.04 |
| Peru | 3.78 | 0.03 |
| Costa Rica | 6.04 | 0.03 |
| United States | 5.55 | 0.03 |
| Guatemala | 4.13 | 0.03 |
| Hungary | 3.34 | 0.02 |
| Romania | 3.62 | 0.02 |
| Zambia | 7.80 | 0.02 |
| United Kingdom | 5.23 | 0.02 |
| Chile | 3.68 | 0.01 |
| South Africa | 4.97 | 0.01 |
| Philippines | 3.26 | 0.01 |
| Israel | 3.56 | 0.01 |
| Lithuania | 2.50 | 0.00 |
| Kenya | 6.67 | 0.00 |
| Indonesia | 4.22 | 0.00 |
| Qatar | 3.06 | 0.00 |
| United Arab Emirates | 3.25 | 0.00 |
| Poland | 2.74 | -0.01 |
| Panama | 3.50 | -0.01 |
| Slovak Republic | 2.46 | -0.01 |
| Pakistan | 5.54 | -0.01 |
| Kazakhstan | 4.85 | -0.02 |
| Mexico | 4.73 | -0.02 |
| Paraguay | 5.54 | -0.02 |
| Jordan | 5.86 | -0.02 |
| Tunisia | 6.04 | -0.02 |
| Germany | 3.62 | -0.02 |
| Morocco | 3.93 | -0.03 |
| Senegal | 4.67 | -0.03 |
| Italy | 4.49 | -0.03 |
| Azerbaijan | 5.12 | -0.04 |
| El Salvador | 8.22 | -0.04 |
| France | 6.08 | -0.04 |
| Australia | 6.01 | -0.04 |
| Vietnam | 4.10 | -0.05 |
| Gabon | 6.71 | -0.07 |
| Trinidad and Tobago | 5.71 | -0.16 |
| Ukraine | 7.99 | -0.18 |
| Sri Lanka | 4.94 | -0.18 |
| Mongolia | 5.95 | -0.19 |
| Canada | 8.31 | -0.24 |
| Ethiopia | 6.56 | -0.32 |
| Jamaica | 7.23 | -0.43 |
Country Average Sovereign+Corporate USD Yields Ordered By YTD Yield Chance
| country | Yield | YieldChange |
| Venezuela | 25.62 | 1.69 |
| Canada | 8.69 | 0.54 |
| El Salvador | 8.22 | 0.31 |
| Finland | 2.81 | 0.09 |
| Ecuador | 8.57 | -0.04 |
| Ghana | 8.30 | -0.04 |
| Australia | 6.01 | -0.05 |
| Korea (South) | 3.16 | -0.15 |
| United States | 5.55 | -0.22 |
| Philippines | 3.23 | -0.25 |
| Slovak Republic | 2.46 | -0.27 |
| China | 3.85 | -0.30 |
| New Zealand | 5.17 | -0.31 |
| Malaysia | 3.29 | -0.33 |
| Barbados | 5.36 | -0.33 |
| Thailand | 3.11 | -0.34 |
| Oman | 4.57 | -0.36 |
| Germany | 3.66 | -0.36 |
| Netherlands | 4.30 | -0.36 |
| United Kingdom | 5.34 | -0.37 |
| Peru | 3.85 | -0.38 |
| United Arab Emirates | 3.39 | -0.38 |
| Bahrain | 5.42 | -0.38 |
| Cote D'Ivoire (Ivory Coast) | 6.27 | -0.39 |
| Jordan | 5.85 | -0.40 |
| Qatar | 3.05 | -0.40 |
| Poland | 2.74 | -0.42 |
| South Africa | 5.05 | -0.42 |
| Taiwan | 3.71 | -0.43 |
| Luxembourg | 7.26 | -0.43 |
| France | 6.08 | -0.45 |
| Israel | 3.56 | -0.47 |
| Colombia | 4.59 | -0.48 |
| Uruguay | 4.35 | -0.50 |
| Pakistan | 5.26 | -0.50 |
| Azerbaijan | 5.16 | -0.50 |
| Morocco | 3.93 | -0.51 |
| Russian Federation | 3.92 | -0.52 |
| Lithuania | 2.50 | -0.52 |
| Hungary | 3.34 | -0.53 |
| Ireland | 5.85 | -0.53 |
| Paraguay | 5.54 | -0.56 |
| Romania | 3.62 | -0.57 |
| Croatia (Hrvatska) | 3.59 | -0.57 |
| Ukraine | 7.99 | -0.58 |
| Kuwait | 3.97 | -0.58 |
| Panama | 3.50 | -0.59 |
| Chile | 3.61 | -0.60 |
| Japan | 3.20 | -0.62 |
| Indonesia | 4.19 | -0.63 |
| Italy | 4.29 | -0.63 |
| Mexico | 4.70 | -0.68 |
| Trinidad and Tobago | 5.71 | -0.69 |
| Vietnam | 4.10 | -0.70 |
| India | 4.19 | -0.72 |
| Nigeria | 4.86 | -0.75 |
| Guatemala | 4.13 | -0.77 |
| Tunisia | 6.04 | -0.85 |
| Kazakhstan | 4.67 | -0.91 |
| Brazil | 5.76 | -0.92 |
| Costa Rica | 6.01 | -0.97 |
| Serbia | 3.36 | -1.00 |
| Turkey | 4.96 | -1.03 |
| Gabon | 6.71 | -1.03 |
| Senegal | 4.67 | -1.04 |
| Dominican Republic | 5.25 | -1.05 |
| Lebanon | 5.80 | -1.06 |
| Kenya | 6.67 | -1.17 |
| Iraq | 8.05 | -1.20 |
| Egypt | 5.26 | -1.24 |
| Sri Lanka | 4.99 | -1.28 |
| Zambia | 7.80 | -1.31 |
| Angola | 8.76 | -1.36 |
| Jamaica | 7.23 | -1.37 |
| Argentina | 5.93 | -1.44 |
| Ethiopia | 6.56 | -1.46 |
| Mongolia | 5.95 | -2.37 |
| Hong Kong | 8.66 | -4.44 |
Country Average Sovereign+Corporate USD Yields Ordered by Current YTM
| country | Yield | YieldChange |
| Venezuela | 25.57 | 1.67 |
| Singapore | 18.54 | 0.45 |
| Ecuador | 8.82 | 0.18 |
| Angola | 8.76 | 0.06 |
| Hong Kong | 8.66 | 0.10 |
| Canada | 8.31 | -0.24 |
| Ghana | 8.24 | 0.09 |
| El Salvador | 8.22 | -0.04 |
| Iraq | 8.05 | 0.14 |
| Ukraine | 7.99 | -0.18 |
| Zambia | 7.80 | 0.02 |
| Jamaica | 7.23 | -0.43 |
| Luxembourg | 6.97 | 0.33 |
| Gabon | 6.71 | -0.07 |
| Kenya | 6.67 | 0.00 |
| Ethiopia | 6.56 | -0.32 |
| Cote D'Ivoire (Ivory Coast) | 6.27 | 0.04 |
| Nigeria | 6.27 | 0.04 |
| France | 6.08 | -0.04 |
| Egypt | 6.06 | 0.06 |
| Costa Rica | 6.04 | 0.03 |
| Tunisia | 6.04 | -0.02 |
| Australia | 6.01 | -0.04 |
| Mongolia | 5.95 | -0.19 |
| Argentina | 5.94 | 0.05 |
| Jordan | 5.86 | -0.02 |
| Lebanon | 5.78 | 0.05 |
| Brazil | 5.77 | 0.05 |
| Trinidad and Tobago | 5.71 | -0.16 |
| United States | 5.55 | 0.03 |
| Pakistan | 5.54 | -0.01 |
| Paraguay | 5.54 | -0.02 |
| Bahrain | 5.42 | 0.07 |
| Barbados | 5.36 | 0.06 |
| Dominican Republic | 5.27 | 0.07 |
| United Kingdom | 5.23 | 0.02 |
| New Zealand | 5.17 | 0.13 |
| Azerbaijan | 5.12 | -0.04 |
| Turkey | 4.99 | 0.05 |
| South Africa | 4.97 | 0.01 |
| Sri Lanka | 4.94 | -0.18 |
| Bolivia | 4.88 | 0.05 |
| Kazakhstan | 4.85 | -0.02 |
| Ireland | 4.75 | 0.10 |
| Mexico | 4.73 | -0.02 |
| Oman | 4.72 | 0.11 |
| Senegal | 4.67 | -0.03 |
| Colombia | 4.52 | 0.04 |
| Italy | 4.49 | -0.03 |
| Netherlands | 4.49 | 0.07 |
| India | 4.42 | 0.06 |
| Uruguay | 4.35 | 0.06 |
| Indonesia | 4.22 | 0.00 |
| Guatemala | 4.13 | 0.03 |
| Vietnam | 4.10 | -0.05 |
| Kuwait | 4.03 | 0.07 |
| Russian Federation | 4.02 | 0.04 |
| Morocco | 3.93 | -0.03 |
| China | 3.88 | 0.04 |
| Peru | 3.78 | 0.03 |
| Taiwan | 3.71 | 0.05 |
| Chile | 3.68 | 0.01 |
| Romania | 3.62 | 0.02 |
| Germany | 3.62 | -0.02 |
| Croatia (Hrvatska) | 3.59 | 0.04 |
| Israel | 3.56 | 0.01 |
| Panama | 3.50 | -0.01 |
| Thailand | 3.43 | 0.06 |
| Serbia | 3.36 | 0.05 |
| Malaysia | 3.35 | 0.06 |
| Hungary | 3.34 | 0.02 |
| Philippines | 3.26 | 0.01 |
| United Arab Emirates | 3.25 | 0.00 |
| Japan | 3.20 | 0.06 |
| Korea (South) | 3.15 | 0.07 |
| Qatar | 3.06 | 0.00 |
| Finland | 2.81 | 0.30 |
| Poland | 2.74 | -0.01 |
| Lithuania | 2.50 | 0.00 |
| Slovak Republic | 2.46 | -0.01 |
Chart: Russian carry trade - does it all stops here?
FX moves, CBR 50btps move as well as loss of confidence in the oil price could stimulate carry trade unwinding

Source: ML
Download file in Power PointKey News
Average Sovereign GEM Yields (USD)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Average Sov. DEM Yields (blended currency)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Average UST Yield
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Bonds Datamine Queries
Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondVENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19VENEZUELA BOLIVARIAN REPUBLIC OF RegS 22PETROLEOS DE VENEZUELA SA RegS 22VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 20
Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondPETROLEOS MEXICANOS 22ETHIOPIA FEDERAL DEMOCRATIC REPUB RegS 24UKRAINE (GOVERNMENT OF) RegS 19UKRAINE (GOVERNMENT OF) RegS 23
Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondPETROLEOS DE VENEZUELA SA RegS 22PETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA MTN RegS 21PETROLEOS DE VENEZUELA SA RegS 35
Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondDIGICEL GROUP LTD RegS 20ODEBRECHT DRILL VIII/IX RegS 21DIGICEL LTD RegS 21PETROLEOS MEXICANOS 22
Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryVenezuelaEcuadorIraqTurkeyBrazil
Country Average Corporate Yield Change USD Eurobonds Weekly
CountryVenezuelaOmanKorea (South)KuwaitBarbados
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
NamePETROLEOS DE VENEZUELA SA MTN RegSPETROLEOS DE VENEZUELA SA RegSPETROLEOS DE VENEZUELA SA RegS
Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameTURKEY (REPUBLIC OF)TURKEY (REPUBLIC OF)TURKEY (REPUBLIC OF)
Big Country Table - Stance, Ratings and Datamine
Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondUK CONV GILT RegS 34UK CONV GILT RegS 44UK CONV GILT RegS 49GERMANY (FEDERAL REPUBLIC OF) 44
Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly
BondSPAIN (KINGDOM OF) 17ITALY (REPUBLIC OF) 19ITALY (REPUBLIC OF) 20ITALY (REPUBLIC OF) RegS 19
Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCountryYieldYield Change %ptsBANCA POPOLARE DI VICENZA MTN RegS 18Italy16.892.98VENETO BANCA SCPA MTN RegS 19Italy13.982.52HERTZ HOLDINGS NETHERLANDS BV RegS 19United States6.252.41GRUPO ISOLUX CORSAN SA 21Spain404.102.24HEXION INC 20United States19.882.11
Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondCountryYieldYield Change %ptsGRUPO ISOLUX CORSAN SA 21Spain138.87-11.39CONCORDIA HEALTHCARE CORP 144A 23Canada49.63-8.28GENON ENERGY INC 18United States42.64-6.39AMERICAN ENERGY - PERMIAN BASIN LL 144A 20United States10.59-3.74AMERICAN ENERGY-PERMIAN BASIN LLC 144A 21United States10.17-3.08
Top 30 DM Souvereign Eurobonds by Yield
NameISINcountryMaturityCouponYTWPORTUGAL (REPUBLIC OF)PTOTEBOE0020Portugal15-Feb-20454.104.47PORTUGAL (REPUBLIC OF)PTOTE5OE0007Portugal15-Apr-20374.104.28PORTUGAL (REPUBLIC OF)PTOTEROE0014Portugal15-Feb-20303.884.17
Top 30 DM Corporate Eurobonds by Yield
NameISINcountryMaturityCouponYTWGRUPO ISOLUX CORSAN SAXS1542318388Spain30-Dec-20210.25404.10GRUPO ISOLUX CORSAN SAXS1527710963Spain30-Dec-20213.00138.87CLAIRES STORES INC 144AUS179584AM91United States15-Mar-20199.0061.36