Emerging Markets on Central Bank Watch

The transcript discusses market skepticism regarding the Federal Reserve's actions and Janet Yellen's potential influence on this perception. It highlights the impact of US financial conditions on emerging markets, noting that despite Fed rate hikes, conditions remain loose, benefiting risk assets. The discussion also covers recent movements in the Qatari market, with a focus on bond performance and relative value trades, as well as the implications of Qatar's credit rating being on negative watch.

What are the key factors that the market is skeptical about regarding the Federal Reserve's plans?

• US inflation rates and balance sheet reduction

• Global oil prices and trade policies

• European Central Bank's interest rates

• China's economic growth

Why might Janet Yellen's statements on US financial conditions be significant for emerging market investors?

• They might lead to changes in US immigration laws.

• They might signal a shift in US military strategy.

• They could affect the liquidity environment for emerging markets.

• They could indicate a change in US trade policies.

What recent trend has been observed in the Qatari bond market?

• Qatari bonds have been upgraded by major rating agencies.

• Qatari bonds are unaffected by global market trends.

• Qatari bonds are trading in line with lower-rated emerging market debt.

• Qatari bonds are outperforming all other emerging market bonds.

What is the current rating status of Qatari debt according to major rating agencies?

• BBB with a stable outlook

• CCC with a negative outlook

• AA with a negative watch

• AAA with a positive outlook

What relative value trade is suggested by Barclays analysts in the Qatari market?

• Buy US debt and sell Qatari debt

• Buy Qatari debt and sell Saudi Arabian debt

• Buy European debt and sell Qatari debt

• Buy Saudi Arabian debt and sell Qatari debt