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OPEC's big meeting and new clues to Fed policy are next up for ... NZ dollar little changed ahead of Fed policy meeting Fast Europe Open: UK retail sales, ECB meeting minutes ECB Meeting Comes at a Precarious Time for Markets BOJ Governor is meeting with PM Abe BOJ to offer upbeat economic view at policy meeting, talk down early ... Meetings This Week: BOE To Announce 2017 Teachers of Year ... Bus drivers speak at BOE meeting on cuts PBOC Trying to Keep It Simple With Spotlight on Two Rates China's money rates mixed, c.bank cash injections ease liquidity stress China's central bank establishes fintech committee China central bank says detects no cases of ransomware infection Banco do Brasil sees defaults stabilizing despite rising write-offs What changed your market while you were sleeping Three reasons why BofA-ML projects RBI rate cut in August RBI on hold for now, 50 bps rate hike likely in 2018: Nomura Russian central bank cuts key rate by 50bp in surprise move CBR rate decision preview: cutting further Turkey's monetary tightening supports lira amid EM weakness CBT likely to keep policy rates unchanged, inflation may peak in April S.Africa's central bank governor says raising rates won't lure ... DIARY-Emerging Markets Economic Events to July 28 DIARY-Emerging Markets Economic Events to July 28 South Korean Leader Moon Names Finance Minister, Key Aides
Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondSTATE OIL CO OF AZERBAIJAN REPUBLI RegS 23LEBANON (REPUBLIC OF) MTN RegS 21BRAZIL (FEDERATIVE REPUBLIC OF) 21BANCO NACIONAL DE DESENVOLVIMENTO RegS 19
Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondPETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA RegS 35PETROLEOS DE VENEZUELA SA RegS 22VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19
Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCSN RESOURCES SA RegS 20ODEBRECHT DRILL VIII/IX RegS 21CAIXA ECONOMICA FEDERAL RegS 19PETROBRAS GLOBAL FINANCE BV 20
Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondPETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA RegS 35PETROLEOS DE VENEZUELA SA MTN RegS 21EXPORT-IMPORT BANK OF CHINA RegS 21
Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryAzerbaijanBrazilLebanonUkraineOman
Country Average Corporate Yield Change USD Eurobonds Weekly
CountryJamaicaBrazilAzerbaijanArgentinaBarbados
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 RegSODEBRECHT DRILL VIII/IX RegS
Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameBRAZIL FEDERATIVE REPUBLIC OF (GOBRAZIL FEDERATIVE REPUBLIC OFBRAZIL FEDERATIVE REPUBLIC OF (GO
Big Country Table - Stance, Ratings and Datamine
Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondCANADA (GOVERNMENT OF) 17ITALY (REPUBLIC OF) 17JAPAN (GOVERNMENT OF) 10YR #300 19SPAIN (KINGDOM OF) 17
Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly
BondCANADA (GOVERNMENT OF) 33ITALY (REPUBLIC OF) 24CANADA (GOVERNMENT OF) 26CANADA (GOVERNMENT OF) 48
Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCountryYieldYield Change %ptsNOBLE GROUP LTD 144A 20Hong Kong35.7516.12VENETO BANCA SCPA MTN RegS 19Italy16.832.50NEIMAN MARCUS GROUP LTD LLC 144A 21United States27.272.45GRUPO ISOLUX CORSAN SA 21Spain406.952.25GRUPO ISOLUX CORSAN SA 21Spain173.542.16
Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondCountryYieldYield Change %ptsGENON ENERGY INC 20United States23.31-2.10CLAIRES STORES INC 144A 19United States59.15-1.87GENON ENERGY INC 18United States35.41-1.78INTELSAT CONNECT FINANCE SA 144A 22Luxembourg15.82-1.28COMMERCIAL METALS CO 18United States2.41-0.85
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-20210.25406.95GRUPO ISOLUX CORSAN SAXS1527710963Spain30-Dec-20213.00173.54CLAIRES STORES INC 144AUS179584AM91United States15-Mar-20199.0059.15
Country Average Sovereign+Corporate USD Yields Ordered by Weekly Change
| country | Yield | YieldChange |
| Hong Kong | 35.75 | 16.12 |
| Brazil | 6.16 | 0.42 |
| Azerbaijan | 5.51 | 0.42 |
| Jamaica | 7.53 | 0.26 |
| Lebanon | 6.04 | 0.21 |
| Finland | 2.75 | 0.20 |
| Ukraine | 7.88 | 0.18 |
| Barbados | 5.62 | 0.16 |
| Argentina | 6.04 | 0.15 |
| Oman | 4.81 | 0.14 |
| Iraq | 7.95 | 0.14 |
| Tunisia | 6.24 | 0.14 |
| Gabon | 6.66 | 0.10 |
| Angola | 8.74 | 0.10 |
| Bolivia | 5.06 | 0.10 |
| Serbia | 3.44 | 0.09 |
| Egypt | 6.16 | 0.09 |
| Trinidad and Tobago | 5.74 | 0.09 |
| Ecuador | 8.71 | 0.06 |
| South Africa | 4.91 | 0.06 |
| Croatia (Hrvatska) | 3.64 | 0.06 |
| Mongolia | 5.98 | 0.06 |
| Guatemala | 4.21 | 0.06 |
| Ireland | 4.80 | 0.06 |
| Turkey | 5.07 | 0.05 |
| United Kingdom | 5.26 | 0.05 |
| Ethiopia | 6.62 | 0.04 |
| Canada | 7.90 | 0.04 |
| Cote D'Ivoire (Ivory Coast) | 6.26 | 0.03 |
| Dominican Republic | 5.30 | 0.03 |
| Pakistan | 5.55 | 0.03 |
| El Salvador | 8.18 | 0.03 |
| Russian Federation | 4.01 | 0.02 |
| Netherlands | 4.48 | 0.02 |
| Australia | 5.22 | 0.02 |
| Colombia | 4.56 | 0.01 |
| Nigeria | 6.20 | 0.01 |
| Zambia | 7.74 | 0.01 |
| Paraguay | 5.54 | 0.01 |
| Jordan | 5.88 | 0.01 |
| France | 6.11 | 0.01 |
| Kazakhstan | 4.83 | 0.00 |
| Panama | 3.63 | 0.00 |
| United States | 5.52 | 0.00 |
| India | 4.39 | 0.00 |
| Romania | 3.60 | -0.01 |
| Sri Lanka | 5.01 | -0.01 |
| Costa Rica | 6.04 | -0.01 |
| Ghana | 8.08 | -0.01 |
| United Arab Emirates | 3.20 | -0.01 |
| New Zealand | 5.13 | -0.01 |
| Singapore | 18.54 | -0.01 |
| Peru | 3.74 | -0.02 |
| Lithuania | 2.47 | -0.02 |
| Chile | 3.65 | -0.02 |
| Qatar | 3.04 | -0.02 |
| Kuwait | 4.01 | -0.02 |
| Italy | 4.46 | -0.02 |
| Hungary | 3.30 | -0.03 |
| Mexico | 4.66 | -0.03 |
| Poland | 2.70 | -0.04 |
| Kenya | 6.52 | -0.04 |
| Indonesia | 4.20 | -0.04 |
| Germany | 3.52 | -0.04 |
| Uruguay | 4.27 | -0.05 |
| Philippines | 3.23 | -0.05 |
| Morocco | 3.86 | -0.05 |
| Vietnam | 4.04 | -0.05 |
| Slovak Republic | 2.40 | -0.06 |
| Japan | 3.10 | -0.06 |
| Venezuela | 24.92 | -0.07 |
| Bahrain | 5.33 | -0.07 |
| China | 3.76 | -0.09 |
| Israel | 3.37 | -0.09 |
| Luxembourg | 6.75 | -0.10 |
| Korea (South) | 3.02 | -0.13 |
| Malaysia | 3.22 | -0.15 |
| Thailand | 3.27 | -0.16 |
| Senegal | 4.59 | -0.16 |
| Taiwan | 3.54 | -0.17 |
Country Average Sovereign+Corporate USD Yields Ordered By YTD Yield Chance
| country | Yield | YieldChange |
| Hong Kong | 35.75 | 22.65 |
| Venezuela | 25.02 | 1.09 |
| El Salvador | 8.16 | 0.25 |
| Canada | 8.35 | 0.19 |
| Finland | 2.75 | 0.03 |
| Australia | 6.00 | -0.06 |
| Barbados | 5.62 | -0.07 |
| Azerbaijan | 5.52 | -0.14 |
| Ecuador | 8.45 | -0.17 |
| Ghana | 8.14 | -0.20 |
| United States | 5.51 | -0.25 |
| Philippines | 3.20 | -0.28 |
| Korea (South) | 3.03 | -0.28 |
| Oman | 4.63 | -0.30 |
| United Kingdom | 5.39 | -0.32 |
| Slovak Republic | 2.40 | -0.33 |
| New Zealand | 5.13 | -0.35 |
| Jordan | 5.88 | -0.37 |
| Cote D'Ivoire (Ivory Coast) | 6.26 | -0.39 |
| China | 3.76 | -0.39 |
| United Arab Emirates | 3.36 | -0.40 |
| Netherlands | 4.26 | -0.40 |
| Qatar | 3.04 | -0.41 |
| France | 6.11 | -0.42 |
| Peru | 3.80 | -0.43 |
| South Africa | 5.03 | -0.44 |
| Bahrain | 5.33 | -0.46 |
| Poland | 2.70 | -0.47 |
| Colombia | 4.59 | -0.48 |
| Germany | 3.54 | -0.48 |
| Malaysia | 3.14 | -0.49 |
| Thailand | 2.95 | -0.50 |
| Pakistan | 5.25 | -0.51 |
| Ireland | 5.87 | -0.51 |
| Brazil | 6.16 | -0.52 |
| Russian Federation | 3.91 | -0.53 |
| Croatia (Hrvatska) | 3.64 | -0.53 |
| Lithuania | 2.47 | -0.55 |
| Hungary | 3.30 | -0.56 |
| Paraguay | 5.54 | -0.56 |
| Morocco | 3.86 | -0.57 |
| Uruguay | 4.27 | -0.58 |
| Romania | 3.60 | -0.59 |
| Italy | 4.32 | -0.59 |
| Israel | 3.43 | -0.60 |
| Taiwan | 3.54 | -0.60 |
| Panama | 3.48 | -0.62 |
| Chile | 3.59 | -0.62 |
| Kuwait | 3.92 | -0.63 |
| Indonesia | 4.18 | -0.64 |
| Tunisia | 6.24 | -0.65 |
| Trinidad and Tobago | 5.74 | -0.66 |
| Luxembourg | 7.02 | -0.66 |
| Ukraine | 7.88 | -0.69 |
| Guatemala | 4.21 | -0.69 |
| Japan | 3.10 | -0.72 |
| India | 4.17 | -0.74 |
| Mexico | 4.63 | -0.75 |
| Vietnam | 4.04 | -0.77 |
| Nigeria | 4.83 | -0.77 |
| Lebanon | 6.04 | -0.83 |
| Serbia | 3.44 | -0.92 |
| Kazakhstan | 4.63 | -0.96 |
| Turkey | 5.01 | -0.98 |
| Costa Rica | 6.01 | -0.98 |
| Dominican Republic | 5.29 | -1.01 |
| Jamaica | 7.53 | -1.06 |
| Gabon | 6.66 | -1.08 |
| Senegal | 4.59 | -1.12 |
| Egypt | 5.32 | -1.17 |
| Sri Lanka | 5.01 | -1.26 |
| Argentina | 6.08 | -1.30 |
| Iraq | 7.95 | -1.30 |
| Kenya | 6.52 | -1.32 |
| Zambia | 7.74 | -1.36 |
| Angola | 8.74 | -1.38 |
| Ethiopia | 6.62 | -1.40 |
| Mongolia | 5.98 | -2.34 |
Country Average Sovereign+Corporate USD Yields Ordered by Current YTM
| country | Yield | YieldChange |
| Hong Kong | 35.75 | 16.12 |
| Venezuela | 24.92 | -0.07 |
| Singapore | 18.54 | -0.01 |
| Angola | 8.74 | 0.10 |
| Ecuador | 8.71 | 0.06 |
| El Salvador | 8.18 | 0.03 |
| Ghana | 8.08 | -0.01 |
| Iraq | 7.95 | 0.14 |
| Canada | 7.90 | 0.04 |
| Ukraine | 7.88 | 0.18 |
| Zambia | 7.74 | 0.01 |
| Jamaica | 7.53 | 0.26 |
| Luxembourg | 6.75 | -0.10 |
| Gabon | 6.66 | 0.10 |
| Ethiopia | 6.62 | 0.04 |
| Kenya | 6.52 | -0.04 |
| Cote D'Ivoire (Ivory Coast) | 6.26 | 0.03 |
| Tunisia | 6.24 | 0.14 |
| Nigeria | 6.20 | 0.01 |
| Brazil | 6.16 | 0.42 |
| Egypt | 6.16 | 0.09 |
| France | 6.11 | 0.01 |
| Argentina | 6.04 | 0.15 |
| Lebanon | 6.04 | 0.21 |
| Costa Rica | 6.04 | -0.01 |
| Mongolia | 5.98 | 0.06 |
| Jordan | 5.88 | 0.01 |
| Trinidad and Tobago | 5.74 | 0.09 |
| Barbados | 5.62 | 0.16 |
| Pakistan | 5.55 | 0.03 |
| Paraguay | 5.54 | 0.01 |
| United States | 5.52 | 0.00 |
| Azerbaijan | 5.51 | 0.42 |
| Bahrain | 5.33 | -0.07 |
| Dominican Republic | 5.30 | 0.03 |
| United Kingdom | 5.26 | 0.05 |
| Australia | 5.22 | 0.02 |
| New Zealand | 5.13 | -0.01 |
| Turkey | 5.07 | 0.05 |
| Bolivia | 5.06 | 0.10 |
| Sri Lanka | 5.01 | -0.01 |
| South Africa | 4.91 | 0.06 |
| Kazakhstan | 4.83 | 0.00 |
| Oman | 4.81 | 0.14 |
| Ireland | 4.80 | 0.06 |
| Mexico | 4.66 | -0.03 |
| Senegal | 4.59 | -0.16 |
| Colombia | 4.56 | 0.01 |
| Netherlands | 4.48 | 0.02 |
| Italy | 4.46 | -0.02 |
| India | 4.39 | 0.00 |
| Uruguay | 4.27 | -0.05 |
| Guatemala | 4.21 | 0.06 |
| Indonesia | 4.20 | -0.04 |
| Vietnam | 4.04 | -0.05 |
| Russian Federation | 4.01 | 0.02 |
| Kuwait | 4.01 | -0.02 |
| Morocco | 3.86 | -0.05 |
| China | 3.76 | -0.09 |
| Peru | 3.74 | -0.02 |
| Chile | 3.65 | -0.02 |
| Croatia (Hrvatska) | 3.64 | 0.06 |
| Panama | 3.63 | 0.00 |
| Romania | 3.60 | -0.01 |
| Taiwan | 3.54 | -0.17 |
| Germany | 3.52 | -0.04 |
| Serbia | 3.44 | 0.09 |
| Israel | 3.37 | -0.09 |
| Hungary | 3.30 | -0.03 |
| Thailand | 3.27 | -0.16 |
| Philippines | 3.23 | -0.05 |
| Malaysia | 3.22 | -0.15 |
| United Arab Emirates | 3.20 | -0.01 |
| Japan | 3.10 | -0.06 |
| Qatar | 3.04 | -0.02 |
| Korea (South) | 3.02 | -0.13 |
| Finland | 2.75 | 0.20 |
| Poland | 2.70 | -0.04 |
| Lithuania | 2.47 | -0.02 |
| Slovak Republic | 2.40 | -0.06 |
Chart: Brazil Yields Rise, Highlighting the Political Risk
But the contagion to other emerging markets is non yet

Source: ML
Download file in Power PointKey News
Average Sovereign GEM Yields (USD)
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Average Sov. DEM Yields (blended currency)
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Average UST Yield
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Bonds Datamine Queries
Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondSTATE OIL CO OF AZERBAIJAN REPUBLI RegS 23LEBANON (REPUBLIC OF) MTN RegS 21BRAZIL (FEDERATIVE REPUBLIC OF) 21BANCO NACIONAL DE DESENVOLVIMENTO RegS 19
Top 20 GEM Sovereign Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondPETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA RegS 35PETROLEOS DE VENEZUELA SA RegS 22VENEZUELA (BOLVARIAN REPUBLIC OF) RegS 19
Top 10 GEM Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCSN RESOURCES SA RegS 20ODEBRECHT DRILL VIII/IX RegS 21CAIXA ECONOMICA FEDERAL RegS 19PETROBRAS GLOBAL FINANCE BV 20
Top 10 GEM Corporate Bonds Yields Drops USD Eurobonds (Winners) Weekly
BondPETROLEOS DE VENEZUELA SA RegS 20PETROLEOS DE VENEZUELA SA RegS 35PETROLEOS DE VENEZUELA SA MTN RegS 21EXPORT-IMPORT BANK OF CHINA RegS 21
Country Average Sovereign Yield Change USD Eurobonds Weekly
CountryAzerbaijanBrazilLebanonUkraineOman
Country Average Corporate Yield Change USD Eurobonds Weekly
CountryJamaicaBrazilAzerbaijanArgentinaBarbados
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 RegSODEBRECHT DRILL VIII/IX RegS
Top 30 GEM Local (reasonably rated) Currency Bonds by Yield
NameBRAZIL FEDERATIVE REPUBLIC OF (GOBRAZIL FEDERATIVE REPUBLIC OFBRAZIL FEDERATIVE REPUBLIC OF (GO
Big Country Table - Stance, Ratings and Datamine
Top 20 Developed Markets Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly
BondCANADA (GOVERNMENT OF) 17ITALY (REPUBLIC OF) 17JAPAN (GOVERNMENT OF) 10YR #300 19SPAIN (KINGDOM OF) 17
Top 20 Developed Markets Sovereign Bonds Yields Drops Change USD Eurobonds (Winners) Weekly
BondCANADA (GOVERNMENT OF) 33ITALY (REPUBLIC OF) 24CANADA (GOVERNMENT OF) 26CANADA (GOVERNMENT OF) 48
Top 10 Developed Markets Corporate Bonds Yields Climbs Week Change USD Eurobonds (Losers)
BondCountryYieldYield Change %ptsNOBLE GROUP LTD 144A 20Hong Kong35.7516.12VENETO BANCA SCPA MTN RegS 19Italy16.832.50NEIMAN MARCUS GROUP LTD LLC 144A 21United States27.272.45GRUPO ISOLUX CORSAN SA 21Spain406.952.25GRUPO ISOLUX CORSAN SA 21Spain173.542.16
Top 10 Developed Markets Corporate Bonds Yields Drops Week Change USD Eurobonds (Winners)
BondCountryYieldYield Change %ptsGENON ENERGY INC 20United States23.31-2.10CLAIRES STORES INC 144A 19United States59.15-1.87GENON ENERGY INC 18United States35.41-1.78INTELSAT CONNECT FINANCE SA 144A 22Luxembourg15.82-1.28COMMERCIAL METALS CO 18United States2.41-0.85
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-20210.25406.95GRUPO ISOLUX CORSAN SAXS1527710963Spain30-Dec-20213.00173.54CLAIRES STORES INC 144AUS179584AM91United States15-Mar-20199.0059.15