bne_newspaper_March_22_2019

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7 The Regions This Week 11 Chart
12 bne Invest
15 Central Europe
17 Southeast Europe 18 Eastern Europe 22 Eurasia
23 Opinion
25 bne Tech
March 22, 2019 www.intellinews.com
US Fed easing sends a “wall of money” to emerging markets
Ben Aris in Berlin
A “wall of money” is headed for emerging markets (EMs) after the US Federal Reserve bank decided to pause its interest rate tightening, but weak growth in China, Europe and the US have caused a sell off, especially in Russia.
The Russian stock market has seen a month of heavy outflows thanks to looming new US
Kazakh sovereign bonds and shares of London- listed top Kazakh lender fall after Nazarbayev resignation news
Kazakhstan’s sovereign dollar bonds fell following President Nursultan Nazarbayev's announcement on March 19 that he will be stepping down after nearly three decades in power. On the same day, the London-listed shares of largest Kazakh lender Halyk Bank slipped 5% after the unexpected news.
sanctions and yet another blow to its already battered investment image following the arrest of US fund manager Michael Calvey. Russia’s bond market, however, is benefiting from the renewed interest in emerging markets.
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The 2045 bond issue dropped as much as 1.2% to trade at 125.997 cents in the dollar on the day of the announcement, marking the biggest daily drop seen since the end of November, Tradeweb data showed. While that could be attributed to unex- pected fears of instability, Nazarbayev hasn’t given
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