Things are not looking good in Kenya and no one seems to want to talk about it clearly. We have take the liberty of shedding a little more light to proceedings with our monthly take on the economy.
Treasury prices were rising, and the 10-year yield has slipped to 3.156% in midmorning trading, as September retail sales grew more slowly than economists had forecast, but business activity in the New York region was a bit stronger than expected. The U.S. dollar fell 0.3% against major currencies. The Turkish lira, up 1.5%, was the best performer of the group, while the Brazilian real climbed 1.4% and the South African rand rose 1.1%. The lira and the rand were among the hardest hit in the emerging-market selloff earlier this year, and the real has been rallying ahead of the country’s elections. Here’s more from the world of bonds and FX.
Single-A-rated corporate bonds might be a larger concern than triple-Bs, Merrill Lynch says.