Research Report Strategy Mai 2021

Morocco - AGR Equity Risk Premium - may 2021

On the sidelines of our last survey carried out among the 35 most influential investors in the Moroccan stock market, we have updated the required profitability towards stocks. Not surprisingly, the Equity Risk Premium reaches a record low of 5.6%, supported by the sustainable context of low interest rates in Morocco.

AGR Indice de Confiance-Maroc

AGR Confidence Index - Morocco : confidence toward equity market at 5-year high.

For this edition, we note a significant improvement in investor confidence toward the Equity market.

AGR_ABI

AGR ABI-9th Edition

EGYPT : ISSUANCES ARE MULTIPLYING ... WITHOUT LOSING THEIR ATTRACTIVENESS Egypt has just successfully issued its first Eurobond in 2021. Used to this channel for its debt raising, Egypt has achieved its 13th Eurobond issuance since 2010.

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Key Rate Expectations of march 2021

Following our survey conducted in March, we have identified investors' expectations toward the evolution of the Moroccan central bank key rate on the sidelines of its 1st meeting of Q1-21.

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MAD Insights - february 18th, 2021

The dollar is falling…, the euro more resilient. The EUR/USD parity downtrend, observed since the start of 2021, was interrupted this week. In fact, the euro exceeded $ 1.21 against $ 1.20 a week earlier.

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AGR Africa Bond Index

COVID-19 crisis : a growth opportunity for the EUROBONDS market. Like previous crises, the Covid-19 pandemic has not been completely disadvantageous to the global economy.

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MAD Insights - february 3rd, 2021

A dynamic week under the sign of volatility The EUR/USD parity remains characterized by a strong volatility, torn between economic indicators reassuring Europeans and a difficult health situation generating fears of additional lockdowns in Europe.

January

Start 2021 Under the Cash-Conversion Perspective

If we had to sum up the year 2020 in one word. we would say without hesitation "VOLATILITY". Faced with the Covid-19 crisis. the MASI index underwent the fastest correction in its history.

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Africa : Quarterly AGR Africa Bond Index

At the beginning of the COVID-19 health crisis, Eurobonds' secondary market yields issued by African countries recorded significant increases.