{"id":558989,"date":"2021-01-04T03:51:18","date_gmt":"2021-01-04T03:51:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/04\/what-the-markets-are-doing-on-4-january-2020\/"},"modified":"2021-01-04T03:51:18","modified_gmt":"2021-01-04T03:51:18","slug":"what-the-markets-are-doing-on-4-january-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/04\/what-the-markets-are-doing-on-4-january-2020\/","title":{"rendered":"What the markets are doing on 4 January 2020"},"content":{"rendered":"

<\/a> We may see more caution in early 2021 valuations of emerging market stocks,<\/strong> bonds and currencies<\/strong> amid uneven covid-19 recovery rates in developing economies and suggestions of MSCI exuberance, Bloomberg reports<\/a>. But with central bank stimulus and vaccines on the horizon, overall investor sentiment remains buoyant, say analysts. EM stocks ended 2020 at their highest level in 13 years, currencies neared their 2018 record, and local-currency bonds had their best quarter in over a decade, with over USD 17 tn of negative-yielding debt worldwide.<\/p>\n

EM hard-currency bond sales will see a further boost in 2021: <\/strong>Over USD 757 bn in USD and EUR-denominated bonds was sold by EM governments and companies in 2020 \u2014 the most in over two decades \u2014 and this will continue over the next 12 months, driven by heavy government borrowing to fund covid-19 healthcare and poverty relief measures, and stimulate economic growth. Financing conditions are expected to support investment grade and high yield, say Goldman Sachs strategists. Companies will also borrow to capitalize on growth, and loose monetary policy will afford them much-needed liquidity, Bloomberg predicts<\/a>.<\/p>\n

Egypt has already approached banks for a USD 7 bn Eurobond sale in 1H 2021<\/strong> \u2014 one of several major agreements flagged for the year.<\/p>\n

US facing delayed economic recovery: <\/strong>Economic growth in the US is expected to slow in the opening months of 2021 before picking up later in the year, as spending increases thanks to the USD 900 bn pandemic-relief package, higher rates of personal saving and the vaccine rollout, the Wall Street Journal<\/a> says. US GDP is expected to grow 5.8% in 2021 after a 3.5% contraction in 2020, according to Goldman Sachs, while Moody\u2019s predicts 4.2% growth.<\/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

10,845<\/p>\n<\/td>\n

\n

Unchanged (YTD: -)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 15.67<\/p>\n<\/td>\n

\n

Sell 15.77<\/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

8,612<\/p>\n<\/td>\n

\n

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

\n

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

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

\n

5,079<\/p>\n<\/td>\n

\n

+0.7% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

2,506<\/p>\n<\/td>\n

\n

+0.6% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,756<\/p>\n<\/td>\n

\n

- (YTD: -)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

6,460<\/p>\n<\/td>\n

\n

- (YTD: -)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 51.80<\/p>\n<\/td>\n

\n

+0.3%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 2.54<\/p>\n<\/td>\n

\n

+4.8%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,895.10<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 32,501<\/p>\n<\/td>\n

\n

-0.1%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The EGX30 was flat at the end of yesterday\u2019s session<\/strong> on low turnover of EGP 874 mn (34.5% below the 90-day average). Local investors were net buyers. The index is flat YTD.<\/p>\n

In the green: <\/strong>Egyptian Iron & Steel (+8.3%), GB Auto (+5.7%) and Palm Hills (+2.9%).<\/p>\n

In the red: <\/strong>Cleopatra Hospital (-2.7%), Export Development Bank (-2.2%) and CIRA (-1.8%).<\/p>\n

Asian markets are in the green in early trading this morning<\/strong> while futures suggest that European markets will open in the red and US stocks will rise when the markets open later today.<\/p>\n","protected":false},"excerpt":{"rendered":"

We may see more caution in early 2021 valuations of emerging market stocks, bonds and currencies amid uneven covid-19 recovery rates in developing economies and suggestions of MSCI exuberance, Bloomberg reports. But with central bank stimulus and vaccines on the horizon, overall investor sentiment remains buoyant, say analysts. EM stocks ended 2020 at their highest […]<\/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":[82,107,104,115,72,164,119,527,122,117,113],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558989","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-bonds","tag-covid-19","tag-economy","tag-emerging-markets","tag-enterpriseam","tag-equities","tag-financial-markets","tag-pandemic","tag-planet-finance","tag-us","tag-vaccines","wpautop","entry"],"acf":{"mongo_id":"696e4965-502d-432f-9426-b6b6e9442d2b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[558966],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 4 January 2020 - 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\/2021\/01\/04\/what-the-markets-are-doing-on-4-january-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 4 January 2020\" \/>\n<meta property=\"og:description\" content=\"We may see more caution in early 2021 valuations of emerging market stocks, bonds and currencies amid uneven covid-19 recovery rates in developing economies and suggestions of MSCI exuberance, Bloomberg reports. 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Emerging markets are set to outperform developed markets in 2020, predict 57 global investors, traders and strategists in a Bloomberg survey, with all assets \u2014 currencies, stocks, and bonds \u2014 having rallied this year after 2018\u2019s EM Zombie Apocalypse. Total\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\/12\/2354.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624060,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/23\/em-currencies-on-course-for-worst-1h-since-2020\/","url_meta":{"origin":558989,"position":1},"title":"EM currencies on course for worst 1H since 2020","author":"enterpriseam admin","date":"23 June 2024","format":false,"excerpt":"JPMorgan\u2019s index for currencies in emerging markets has dipped 4.4% in 2024","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\/2024\/6\/1348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603789,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/21\/em-stocks-bonds-tank-on-political-economic-worries\/","url_meta":{"origin":558989,"position":2},"title":"EM stocks, bonds tank on political, economic worries","author":"enterpriseam admin","date":"21 August 2023","format":false,"excerpt":"Stocks are on course for their worst August since 2015","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\/2023\/8\/948.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":655843,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/a-stronger-usd-could-spell-trouble-for-emerging-market-bonds\/","url_meta":{"origin":558989,"position":3},"title":"A stronger USD could spell trouble for emerging market bonds","author":"enterpriseam admin","date":"25 November 2024","format":false,"excerpt":"Investors have pulled some USD 5 bn from EM bonds in the first half of the month","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\/2024\/11\/2273.jpg?fit=%2C&ssl=1&resize=350%2C200","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":558989,"position":4},"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":544962,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/em-bonds-on-course-for-their-worst-quarter-in-24-years-uae-positioning-itself-as-a-global-crypto-hub\/","url_meta":{"origin":558989,"position":5},"title":"EM bonds on course for their worst quarter in 24 years + UAE positioning itself as a global crypto hub","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"It hasn\u2019t been like this in 24 years: USD-denominated emerging bonds are on course to have their worst quarter since the Asian financial crisis shook emerging markets in 1998, according to Bloomberg.What gives? Already under pressure from rising interest rates, the commodity price shock sparked by the conflict in Ukraine\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\/558989","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=558989"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558989\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558966"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558989"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558989"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}