Insights

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.

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.

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.

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

After an issue of £á 1.0 Bn last September, the Moroccan Treasury succeeded this month the largest foreign currency fundraising in its history, equivalent to $ 3.0 Bn.

This year, the semi-annual review of MSCI FM was marked by a major event. It concerns the exit of Kuwait, an important country which weighed up to 37% within this index. After Qatar, the United Arab Emirates and Argentina, Kuwait joins the emerging countries club by integrating the MSCI EM index.

Financial investors expectations towards the key rate in december 2020 Following our survey conducted in December, we have identified investors' expectations toward the evolution of the Moroccan central bank key rate by the end of 2020.

Morocco risk premium analysis by Attijari Global Research

After hitting a low since April 2013, we note a significant improvement in investor confidence toward the Equity market in September 2020. In more details, AGR Confidence Index stood at 46.6 pts, up +11.1 pts in comparison to the previous edition.