


The Week That Was (7 – 13 Feb, 2022)
The US 10Y Treasury yield crossed 2% on Thursday, the first time since July 2019 after US inflation hit a 40Y high. US IG CDS spreads widened 5bp and HY CDS spreads widened 17bp during the week. Goldman notes that investors have now pulled out $15.8bn from US junk...
Turkey Downgraded to B+ by Fitch
Turkey was downgraded to B+ from BB- by Fitch with a negative outlook. Fitch cited high inflation, low external liquidity and weak policy credibility as reasons for the downgrade. The authorities’ lack of policy response in reducing inflation, including...
Sri Lanka Legislators Call for Orderly Negotiated Postponement of Foreign Debt; Dollar Bonds Slip
A group of senior parliamentarians in Sri Lanka have called for an “orderly negotiated postponement” of outstanding foreign debt and corrective policy measures including a “strong social welfare scheme” as per The Hindu citing a collective statement on February 11....