The GBP Week - Bias is Neutral
Going into the polling day, we'll maintain a buy dips bias, but expect activity to slow pretty dramatically over coming sessions unless polls take a surprise turn. If Johnson can increase his lead further and maintain a solid 14-15% lead into Thursday then we could see GBP/USD ticking higher still towards 1.32-33, even 1.3500, but in truth we expect more cautious trade than that.
South African Bond Investors Are Not Waiting Around For a Moody's Cut to Junk
South Africa's benchmark 10-year bond yield is trading at more than 9% and with inflation running at less than half that, means that the government is forced to borrow at one of the highest real rates for any investment grade credit.
Asia Credit Insight: Chinese Issuers Fuel Increase in November
69 issuers raised a total of US$33.637bn of funding in the APAC primary US$ market in the month of November from 78 separate tranches, which registered a 4.4% increase month-on-month and a 2.9% rise year-on-year.
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