{"id":642889,"date":"2017-08-24T04:07:37","date_gmt":"2017-08-24T04:07:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/24\/credit-suisse-sees-scope-for-egypts-economic-recovery-to-steadily-accelerate-bnp-paribas-notes-eurobond-yields-at-lowest-level-since-jan-17-issuance\/"},"modified":"2017-08-24T04:07:37","modified_gmt":"2017-08-24T04:07:37","slug":"credit-suisse-sees-scope-for-egypts-economic-recovery-to-steadily-accelerate-bnp-paribas-notes-eurobond-yields-at-lowest-level-since-jan-17-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/24\/credit-suisse-sees-scope-for-egypts-economic-recovery-to-steadily-accelerate-bnp-paribas-notes-eurobond-yields-at-lowest-level-since-jan-17-issuance\/","title":{"rendered":"Credit Suisse sees scope for Egypt\u2019s economic recovery to steadily accelerate, BNP Paribas notes eurobond yields at lowest level since Jan \u201817 issuance"},"content":{"rendered":"

<\/a> Credit Suisse sees scope for Egypt\u2019s economic recovery to \u201csteadily accelerate\u201d <\/strong>and is \u201coptimistic on the outlook for fiscal consolidation,\u201d<\/strong> according to a recent report (pdf)<\/a>. The investment bank maintains its positive outlook on fixed income, particularly short-dated T-bills, and see scope for further steady appreciation in the EGP on improve macro fundamentals. The report does note that \u201cthe challenges facing Egypt remain significant and our recommendations therefore carry materially higher risk compared to our other Middle East recommendations.\u201d Credit Suisse also sees scope for \u201ccredit rating upgrades as the macro environment improves, though it requires the government to keep making positive progress on the elevated fiscal deficit.\u201d<\/p>\n

\u2026Separately, Egyptian eurobond yields declined to their lowest levels since issuance in <\/strong>January 2017<\/strong>, according to BNP Paribas\u2019 Africa Weekly DCM Market update (pdf)<\/a>. The average yield declined by over 100 bps across the different maturities on favourable emerging markets backdrop and continued investor confidence in Egypt\u2019s reforms. \u201cOne factor driving continued yield tightening for Egypt is increased liquidity. The bonds are trading better since inclusion of Eurobond tap in Emerging Markets Bond Diversified Index (EMBI Diversified) leading to increase of Egypt\u2019s weight to 2.0% as of July higher than comparable EMs such as Morocco, Nigeria and Pakistan at 0.5-1.0% each and closer to South Africa and Peru at mid 2%. That is a key factor driving secondary market liquidity as the index is closely followed by all top EM investors,\u201d the report states.<\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Suisse sees scope for Egypt\u2019s economic recovery to \u201csteadily accelerate\u201d and is \u201coptimistic on the outlook for fiscal consolidation,\u201d according to a recent report (pdf). The investment bank maintains its positive outlook on fixed income, particularly short-dated T-bills, and see scope for further steady appreciation in the EGP on improve macro fundamentals. The report […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-642889","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"66ab73a6-4048-4c62-be27-5a187d6e3705","order":"0","is_powered_by":true,"section_story_id":"f0deeb8c-db6b-468f-833a-a8291db9db79","story_type":"1","photo_url":"","photo_position":"above","related_issue":[642881],"teaser":"","voice_url":""},"yoast_head":"\nCredit Suisse sees scope for Egypt\u2019s economic recovery to steadily accelerate, BNP Paribas notes eurobond yields at lowest level since Jan \u201817 issuance - 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\/2017\/08\/24\/credit-suisse-sees-scope-for-egypts-economic-recovery-to-steadily-accelerate-bnp-paribas-notes-eurobond-yields-at-lowest-level-since-jan-17-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Suisse sees scope for Egypt\u2019s economic recovery to steadily accelerate, BNP Paribas notes eurobond yields at lowest level since Jan \u201817 issuance\" \/>\n<meta property=\"og:description\" content=\"Credit Suisse sees scope for Egypt\u2019s economic recovery to \u201csteadily accelerate\u201d and is \u201coptimistic on the outlook for fiscal consolidation,\u201d according to a recent report (pdf). 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The most\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/8\/1327.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564979,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/fitch-gives-long-term-fx-debt-outlook-a-%f0%9f%91%8d\/","url_meta":{"origin":642889,"position":1},"title":"Fitch gives long-term FX debt outlook a ?","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"Fitch Ratings affirmed Egypt\u2019s long-term FX issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The outlook is supported by the country\u2019s track record of fiscal and economic reforms, which authorities continued to enact, and a large economy, \u201cwhich has demonstrated stability and resilience through the global health crisis,\u201d the\u2026","rel":"","context":"In "SPEED ROUND: MACRO"","block_context":{"text":"SPEED ROUND: MACRO","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-macro\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602468,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/28\/credit-suisse-is-bullish-on-egypt-sees-it-as-top-pick-across-the-middle-east\/","url_meta":{"origin":642889,"position":2},"title":"Credit Suisse is bullish on Egypt, sees it as \u201ctop pick across the Middle East\u201d","author":"enterpriseam admin","date":"28 March 2019","format":false,"excerpt":"Credit Suisse is bullish on Egypt, sees it as \u201ctop pick across the Middle East\u201d: Egypt is Credit Suisse\u2019s \u201ctop pick\u201d in the Middle East as the firm continues to be bullish on Egypt, Credit Suisse Group\u2019s head of MENA research Fadh Iqbal told Bloomberg TV (watch, runtime: 3:26). Although\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1686.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576397,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/egx-positioned-for-rebound-in-2021-on-strong-fundamentals-positive-growth-outlook-credit-suisse\/","url_meta":{"origin":642889,"position":3},"title":"EGX positioned for rebound in 2021 on strong fundamentals, positive growth outlook: Credit Suisse","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"The EGX is well-positioned for a comeback next year, thanks in large part to Egyptian equities currently being cheap because of the covid-19 market slump, Credit Suisse\u2019s Head of Middle East Research Fahd Iqbal told Bloomberg. The EGX30 is currently the region\u2019s worst-performer \u2014 down 22% year-to-date \u2014 and trails\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625507,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/07\/fitch-affirms-egypts-long-term-credit-rating-at-b-with-a-positive-outlook\/","url_meta":{"origin":642889,"position":4},"title":"Fitch affirms Egypt\u2019s long-term credit rating at \u2018B\u2019 with a positive outlook","author":"enterpriseam admin","date":"7 August 2018","format":false,"excerpt":"Fitch affirms Egypt\u2019s long-term credit rating at \u2018B\u2019 with a positive outlook: Fitch Ratings reaffirmed Egypt\u2019s long-term foreign-currency issuer default rating at \u2018B\u2019 and maintained its outlook as positive. The agency said that Egypt\u2019s rating is supported by the implementation of necessary reforms, which have yielded positive results across a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596390,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/27\/egypts-rate-cut-makes-the-market-even-more-attractive-to-investors-says-credit-suisse\/","url_meta":{"origin":642889,"position":5},"title":"Egypt\u2019s rate cut makes the market even more attractive to investors, says Credit Suisse","author":"enterpriseam admin","date":"27 August 2019","format":false,"excerpt":"Egypt\u2019s rate cut makes the market even more attractive to investors, says Credit Suisse: The CBE\u2019s interest rate cut last week is making Egypt \u2014 already a \u201cfundamentally attractive\u201d market \u2014 all the more appealing for institutional investors, Credit Suisse\u2019s Managing Director and Head of MENA equities Ahmed Badr told\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/767.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642889","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=642889"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/642889\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/642881"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=642889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=642889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=642889"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=642889"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=642889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}