德银-新兴市场-金融业-新兴市场RV监测：稳步迈向2018-20180205-24页

DeutscheBankMarketsResearchEmergingMarketsCorporateCreditFinancialsHYMultiSectorIGMultiSectorDate5February2018CEEMEARVmonitor-Solidstartto2018________________________________________________________________________________________________________________DeutscheBankAG/LondonDISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.HimanshuPorwalResearchAnalyst(+44)2075474234himanshu.porwal@db.comCEEMEAcorporatecreditstartedtheyearonasolidfootingwithspreadtighteningof29bpsinJanuary.ThisapparentlywasthehighestmonthlytighteningsinceAugust2016.Nevertheless,theaverageaggregateyieldsonCEEMEAcorporatesremainedflatinJanuaryasUST10Ymovedfrom2.4%attheendof2017to2.7%byJan-2018(upat2.83%asoftoday).StayingonwithUST,wealsohighlightthatourratesStrategisthaverecentlyreviseduptheiryear-endUST10Yforecastto3.25%followi