Emerging market bonds: navigating Israel, Hamas and US rates

The GlobalCapital Podcast

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◆ Will Israel-Hamas conflict or US rates derail EM primary?
◆ Europe's IPO market dealt a new blow
◆ Private credit muscling in on investment grade lending
Emerging market issuers sold no dollar bonds in the immediate aftermath of both Hamas's attack on Israel on October 7 and Israel's initial response. But the violence was not the only reason for the lack of issuance, as we discover. EM bond printing is set to resume imminently and from the Middle East, of all places. We explain why and how.

Meanwhile, another pulled IPO in Europe was another kick to a market that is most definitely down. We discuss Planisware's decision to hook its listing and what the ramifications will be for future IPOs. We also look at where new listings activity might now come from.

Finally, we look at how and where private credit is making inroads into lending to investment grade companies, a business traditionally the reserve of banks. We find out that they have a niche to exploit that might well develop into what some are calling a "symbiotic" relationship with traditional lenders as they do the business the big banks won't.