Presentation: The EMBI
Experience: The Therapeutic Potential of Cannabinoids in Ocular Disease
where a sovereign event is defined as an EMBI
spread change greater than three standard deviations from the mean change for that country and G(x) is the logistic link function.
Starting January 31, 2019, sovereign bonds and Sukuks from Saudi Arabia, the UAE, Bahrain, Kuwait and Qatar will gradually gain inclusion on the JP Morgan EMBI
Index, which already includes Oman.
The inclusion of the Gulf region into JP Morgan's widely tracked EMBI
could lead to $30bn to $45bn of inflows.
d[(S).sub.t] = [[beta].sub.0] + [[beta].sub.1] embi
+ [[beta].sub.2] d([inadtotal.sub.t]) + [[beta].sub.3] IPCA(t - 3) + [[beta].sub.4] [IPI.sub.BC] + [[beta].sub.5] [IPI.sub.C] + [[beta].sub.6] [IPI.sub.CD] + [[beta].sub.7] [IPI.sub.INT] + [[beta].sub.8] [IPI.sub.NSD] + [[beta].sub.9] [IPI.sub.EM] + [[beta].sub.10] IPI + [[beta].sub.11] [IPI.sub.T] + [[beta].sub.12] IPMA + [[beta].sub.13] Selic + [[epsilon].sub.t]
Sovereign and quasi-sovereign debt issuers from the UAE, Saudi Arabia as well as Bahrain and Kuwait will become eligible for the EMBI
Global Diversified (EMBIGD), EMBI
Global (EMBIG) and EURO-EMBIG indexes.
The Uzbek bond would have to be at least $500 million to be eligible for JP Morgan's EMBI
global emerging debt benchmark.
Fisch noted the potential inclusion of the GCC region in the JP Morgan EMBI
Index, with official phase-in expected to commence in early 2019, to be particularly relevant.
'We have set up a subsidiary company, TEKUN Corporation, to recover bad debts,' said TEKUN Nasional managing director and chief executive officer Datuk Baharom Embi
to Bernama when asked about the agency's non-performing financing (NPF) recently.
O mesmo resultado foi encontrado para a variavel cambio (e para o EMBI
, que foi utilizado como proxy de risco pais).
On the other hand, it would be expected that the RNS and the EMBI
+ index are positively correlated.
So, no surprise, that in the 4 months of 2018, according to JP Morgan's EMBI
index of emerging markets, their overall credit rating has fallen sharply, back to the level in 2016.