{"id":542742,"date":"2022-01-13T03:35:30","date_gmt":"2022-01-13T03:35:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge\/"},"modified":"2022-01-13T03:35:30","modified_gmt":"2022-01-13T03:35:30","slug":"high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge\/","title":{"rendered":"High real rates ward off bears in EM FX markets + KSA plans equities splurge"},"content":{"rendered":"

<\/a> Bearish sentiment on emerging-market currencies is lifting<\/strong> as traders u-turn on assumptions that the asset class will be hit when the Federal Reserve starts to hike rates later this year, Bloomberg<\/a> reports. The MSCI index of EM currencies hit a four-month high last week as rate hikes in developing economies provide a buffer against rising US treasury yields. Morgan Stanley strategists have called the bottom to EM currencies, while Citigroup has dialed back bearish bets on the asset class.<\/p>\n

Saudi Arabia\u2019s sovereign wealth fund is planning a buying spree in the equity <\/strong>markets this year<\/strong>, investing around USD 10 bn in public companies as it tries to more than double its assets by the middle of the decade, Bloomberg<\/a> reports. The Public Investment Fund holds some USD 500 bn in assets. It aggressively bought the dip at the pandemic\u2019s outset, using some USD 40 bn from the country\u2019s reserves to buy shares in companies including Citigroup, Facebook and cruise company Carnival.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

12,060<\/p>\n<\/td>\n

\n

+0.5% (YTD: +0.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,957<\/p>\n<\/td>\n

\n

+1.0% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

8,371<\/p>\n<\/td>\n

\n

+0.5% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,208<\/p>\n<\/td>\n

\n

+0.0% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,726<\/p>\n<\/td>\n

\n

+0.3% (YTD: -0.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,552<\/p>\n<\/td>\n

\n

+0.8% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 84.85<\/p>\n<\/td>\n

\n

+1.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 4.86<\/p>\n<\/td>\n

\n

+14.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,827<\/p>\n<\/td>\n

\n

+0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 43,817<\/p>\n<\/td>\n

\n

+2.6% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.5% at today\u2019s close <\/strong>on turnover of EGP 937 mn (22.5% below the 90-day average). Foreign investors were net sellers. The index is up 0.9% YTD.<\/p>\n

In the green: <\/strong>AMOC (+5.4%), Telecom Egypt (+2.8%) and Rameda (+2.4%).<\/p>\n

In the red: <\/strong>Speed Medical (-2.9%), Heliopolis Housing (-2.7%) and Fawry (-2.5%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Bearish sentiment on emerging-market currencies is lifting as traders u-turn on assumptions that the asset class will be hit when the Federal Reserve starts to hike rates later this year, Bloomberg reports. The MSCI index of EM currencies hit a four-month high last week as rate hikes in developing economies provide a buffer against rising […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[380,115,72,119,122,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542742","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-currencies","tag-emerging-markets","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"62c2bdae-824d-4810-9155-9cdd0494c0eb","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542723],"teaser":"","voice_url":""},"yoast_head":"\nHigh real rates ward off bears in EM FX markets + KSA plans equities splurge - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High real rates ward off bears in EM FX markets + KSA plans equities splurge\" \/>\n<meta property=\"og:description\" content=\"Bearish sentiment on emerging-market currencies is lifting as traders u-turn on assumptions that the asset class will be hit when the Federal Reserve starts to hike rates later this year, Bloomberg reports. 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Sentiment is low compared to an earlier survey, which found that only 10 investors were bearish about EMs. The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546316,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/11\/emerging-market-currencies-see-biggest-losses-since-2020\/","url_meta":{"origin":542742,"position":1},"title":"Emerging-market currencies see biggest losses since 2020","author":"enterpriseam admin","date":"11 May 2022","format":false,"excerpt":"EM currencies see biggest losses since 2020: Emerging-market currencies are suffering as investors pull out of risk assets in response to rising interest rates in the US and the economic slowdown in China, according to the Financial Times. The MSCI Emerging Markets Currency Index dropped over 4% since the beginning\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596783,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/emerging-markets-to-reap-the-benefits-of-a-fed-rate-cut-bloomberg-survey\/","url_meta":{"origin":542742,"position":2},"title":"Emerging markets to reap the benefits of a Fed rate cut -Bloomberg survey","author":"enterpriseam admin","date":"8 July 2019","format":false,"excerpt":"Emerging markets to reap the benefits of a Fed rate cut -Bloomberg survey: Emerging market equities, bonds, and currencies will reap the benefits if the world\u2019s major central banks go ahead with expected rate cuts, according to a quarterly poll of 42 fund managers, traders, and strategists conducted by Bloomberg.\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562151,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/planet-finance-rising-commodity-prices-are-good-news-for-em\/","url_meta":{"origin":542742,"position":3},"title":"Planet Finance: Rising commodity prices are good news for EM","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"SUPERCYCLE WATCH- Copper prices are at all-time highs off of optimism over an economic rebound that has fueled talk of a commodities supercycle amid soaring raw material prices, Bloomberg reports. The surge in prices is raising the prospect of imminent inflation \u2014 despite some analysts suggesting it will be transitory\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563158,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/hawks-at-the-fed-egypt-shouldnt-sweat-it\/","url_meta":{"origin":542742,"position":4},"title":"Hawks at the Fed? Egypt shouldn\u2019t sweat it.","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"The EGP will hold up better than most other emerging-market currencies in the event of tightening at the Federal Reserve, given its attractive real interest rates, an analyst at Fidelity International tells Bloomberg. The currency, along with the Ghanaian cedi, have an \u201cenormous\u201d advantage over their peers in terms of\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563495,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/fears-of-the-delta-strain-are-hitting-emerging-market-currencies\/","url_meta":{"origin":542742,"position":5},"title":"Fears of the Delta strain are hitting emerging-market currencies","author":"enterpriseam admin","date":"5 July 2021","format":false,"excerpt":"Fears of the Delta strain are hitting emerging-market currencies: Developing countries with low vaccination rates could face currency pressure as the Delta variant prompts new restrictions, Bloomberg reports. In June, the South African rand and the Russian ruble \u2014 formerly this year\u2019s best performers \u2014 stalled, weighing down an index\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542742"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542742\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542723"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542742"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542742"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}