Cbonds: Global Bond Market

📈 Cbonds Inflation Outlook May 2026 The global inflation landscape in May 2026 reflects diverging regional dynamics and a highly fragmented approach to monetary policy. In the United States, headline inflation advanced further to 4.2%, driven by a resilient labor market, strong consumer spending, and a recent spike in global energy prices. Conversely, the United Kingdom stabilized completely at 2.8%, maintaining its ground due to a cooling services sector. Within the Eurozone, price pressures remain uneven: Germany's inflation moderated to 2.6%, while France and Italy saw more pronounced accelerations to 2.4% and 3.2% respectively, fueled primarily by rising energy tariffs. China maintains a subdued inflation rate of 1.2%, where economic data points to ongoing real estate sector consolidation and sluggish domestic demand. Crucially, a historic shift is unfolding in Japan, where the Bank of Japan increased its policy rate to 1.0%, continuing its multi-stage transition away from decades of ultra-loose monetary policy in response to evolving domestic price dynamics. Real interest rates continue to vary significantly across borders; Brazil leads major economies with a substantial positive real rate of 9.53% due to its central bank's consistently restrictive stance, whereas developed nations like the US (-0.45%), Germany (-0.2%), and Canada (-0.95%) are currently operating in a negative real interest rate environment. 📥Find this and more in our Research Hub → https://cbonds.com/comments/

#cbondsnew 🇦🇷Argentina Forecasts Are Now Available on Cbonds Consensus forecasts for Argentina’s key macroeconomic indicators are now available on the Cbonds platform. 🔹 USD/ARS Exchange Rate Since January 2026, the Central Bank of Argentina has adopted a new mechanism under which the currency band is adjusted in line with monthly inflation (CPI). Against this backdrop, market participants expect the USD/ARS exchange rate to reach 1,575 by the end of 2026. 🔹 Argentina Central Bank Policy Rate Just a few years ago, Argentina’s policy rate reached a record high of 126% as authorities struggled to curb hyperinflation. Today, the situation has changed significantly, and the central bank has been steadily easing monetary policy. Experts expect the policy rate to decline to 26% by the end of 2026. 🔹Argentina GDP Growth (YoY) According to the latest World Bank forecast, Argentina’s GDP is expected to grow by 3.5% in 2026, with growth accelerating to 4.0% in 2027. Market expectations remain somewhat more cautious, with analysts forecasting GDP growth of 3.15% in 2026 and 3.25% in 2027. 🔹 Argentina Inflation (YoY) According to the Survey of Market Expectations (REM), regularly published by the Central Bank of Argentina, analysts expect inflation to reach approximately 30.5% by the end of 2026, in line with the current consensus forecast. 📍 The latest forecasts for other countries can be found in the “Index Search” section under the “Consensus Forecasts” category, or directly in the “Consensus Forecasts” section on our website.

💼 #CbondsWeekly. All the latest updates in the world of Eurobonds. Last week, US Treasury yields rose across the curve, with the 1Y rising 12 bps to 3.98%, the 2Y up 11 bps to 4.20%, and the 5Y up 6 bps to 4.27%, while the 10Y edged up 1 bp to 4.49%. Corporate bond indices in most regions showed slight declines in yield points (e.g., EM Corporate -2 bps, Middle East Corporate -3 bps, Africa Corporate -2 bps), while sovereign indices also eased (EM Sovereign -4 bps, Latin America Sovereign -4 bps), indicating a modest tightening in credit spreads over Treasuries. Major stock indices advanced broadly, with the S&P 500 up 0.9%, MSCI World up 0.8%, Dow Jones up 0.7%, and the tech-heavy NASDAQ 100 surging 2.6%, buoyed by AI optimism, geopolitical breakthroughs (US-Iran peace deal), and a packed rate-decision calendar. The US Dollar Index strengthened 1.1% against a basket of currencies, with the dollar appreciating 0.8% versus the euro, 1.3% versus the pound, and 0.7% versus the yen, while bitcoin slipped 0.5%. Brent crude oil fell 7.7% for the week to $80.59 a barrel, pressured by a potential US-Iran peace accord that is expected to reopen the Strait of Hormuz and restore Gulf oil flows, while gold dropped 1.7% and the S&P GSCI declined 3.8%. In emerging markets, last week saw notable declines for YPF and Saavi Energia bonds, with YPF falling over 4% after disclosing a repurchase of peso notes, while Saavi dropped nearly 4% as Global Infrastructure Partners agreed to acquire a majority stake, altering its capital structure. On the upside, Ecopetrol bonds gained 3.5% after S&P affirmed its BB- rating with a stable outlook, citing stronger liquidity, and Omniyat Holdings rose over 3% following an S&P outlook revision amid regional credit reviews. Binghatti Holding also climbed 2.4% on record Q1 profit and revenue growth, though Grupo Televisa fell on a Moody's downgrade to Ba2 with a stable outlook. In developed markets, JetBlue Airways bonds led price increases despite S&P Global cutting its credit rating to CCC+ on elevated balance-sheet risk, as the move may have been seen as priced in. Fiserv bonds also gained after the company launched a cash tender offer for its 2027 and 2049 senior USD notes, while Diageo debt rose following news of a major restructuring and cost-cutting initiative under its new CEO. On the downside, Gran Tierra Energy bonds fell sharply as crude oil prices declined, pressuring exploration and production company valuations, and Suncor Energy bonds weakened after a negative earnings surprise weighed on credit sentiment. Warner Bros. Discovery bonds dropped after a disappointing Q1 earnings miss, and CCO Holdings bonds were impacted by upcoming call feature commentary affecting trading dynamics. Bond market news of the last week include European gas prices falling on US-Iran peace deal hopes, though analysts still expect a tight market due to rising Asian summer demand, alongside a broader risk-on rally in Asian stock markets fueled by AI and geopolitical breakthroughs. Research from Ashmore and JP Morgan notes that the approaching US/Iran agreement, which includes reopening the Strait of Hormuz, is driving Brent oil down to around $83 per barrel and boosting risk assets. OCBC adds that the signed 14-point MOU between the US and Iran has supported US equities and is expected to gradually restore Gulf oil flows, despite OPEC cautioning against supply overhang projections. Additionally, President Trump's statement that Apple will work with Intel to design chips in America has lifted Intel's stock by 8% in premarket trading. 📥Find this and more in our Research Hub → https://cbonds.com/comments/

#cbondsnew 🆕 ETF & Funds Inflow Calculator is now available on Cbonds We are pleased to announce a new feature on Cbonds – the ETF & Funds Inflow Calculator! The tool allows users to analyze daily inflows and outflows of investment funds over any selected period. Users can choose from predefined ranges, from one week to ten years, or set custom dates for a more detailed analysis. The analysis of fund flows helps investors to: ➡️Assess market sentiment by identifying growing interest in specific sectors, markets, or investment strategies (growth, value, cyclical stocks, etc.) ➡️Identify market trends, including increasing popularity of certain sectors or shifts toward safer assets ➡️Analyze money movements in a particular instrument by tracking actual inflows and outflows and evaluating investment strategies The new functionality enables investors to monitor both individual instruments and the broader collective investment market more efficiently and make timely investment decisions. 🧮 To access the feature, open an instrument page and navigate to the “Inflow Calculator” section or use the quick link in the horizontal menu.

#cbondsnew 🆕🇨🇴 Credit ratings of BRC Ratings are now available on Cbonds Cbonds continues to expand its coverage of local rating agencies in Latin America. You can now view the credit ratings of Colombia-based agency BRC Ratings on the website. What is new and interesting: 🟠There are 83 credit ratings from BRC Ratings on the website 🟠The agency actively assigns ratings to banks, leasing companies, development institutions, government agencies, and other financial institutions. In addition, ratings from this agency are available for telecommunications, energy, trading, transportation companies, and issuers from other industries ✅Examples of organizations with BRC Ratings include Banco Davivienda, Finanzauto, Findeter, RCI Colombia, UNE EPM Telecomunicaciones ↗️Rating scale BRC Ratings assigns ratings using the issuer scale for Colombian entities and the corporate scale for Panamanian ones. For example, Colombian Banco GNB Sudameris currently holds an "AA+" rating with a positive outlook, while Panama's Empresa de Transmisión Eléctrica (ETESA) has an AA- pan rating. Where can you find issuer ratings? "Bonds" menu ➡️ "Issuer Credit and ESG Ratings" section. 📍Additionally, credit rating information on Cbonds is available on issuer, bond, stock, and syndicated loan pages.

💼 #CbondsWeekly. All the latest updates in the world of Eurobonds. Last week, US Treasury yields declined across the curve, led by the 2-year and 5-year maturities, as geopolitical tensions eased following President Trump’s withdrawal of military strike threats against Iran, boosting risk appetite and lowering safe-haven demand. Regional Cbonds USD bond indices mostly edged lower, with sovereign and corporate yields declining across emerging markets, particularly pronounced in Africa and Latin America, while European and US shares rose on relief over de-escalation hopes. Stock markets rallied, with the S&P 500, Dow Jones, and FTSE 100 gaining about 0.6-1.0%, while the Nikkei fell 0.9%. The US dollar weakened slightly against the euro and pound, as reflected by a 0.3% decline in the US Dollar Index. Commodities were mixed: Brent crude oil fell 6.2% on reduced geopolitical risk, while gold declined 2.5%, and silver edged up 0.7%. In emerging markets, Vista Energy Argentina bonds led gains after the company scheduled its Q2 2026 financial results release and investor webcast for July. Cia Siderurgica Nacional (CSN) bonds also rose sharply as the market reacted to the advancing sale process of its cement unit. Grupo Televisa bonds were moderately higher, though no issuer-specific rating, earnings, or regulatory news was identified to explain the move. On the downside, Alibaba and BRF bonds experienced slight declines, with no relevant bond-specific credit events or issuer news found to account for the price moves. In developed markets, last week saw mixed performance among corporate bonds, with CCO Holdings bonds rising 2.09% following a large share sale by a Legion Partners-affiliated investor that signaled lingering concerns about Clear Channel Outdoor's outlook. Broadcom bonds gained 1.77% as the semiconductor sector rallied on a stronger AI demand outlook, boosting technology hardware valuations, while NXP B.V. bonds advanced 1.14% after announcing a $1.014 cash dividend for Q2 2026. Nutrien bonds increased 1.51% amid higher fertilizer prices, tighter global supply chains, and broker upgrades. Conversely, JetBlue Airways bonds declined 3.46% and Discovery Global Holdings fell 2.95%, both with no material issuer-specific news explaining the moves. Alimentation Couche-Tard bonds dipped 0.90% amid valuation concerns and sector rotation dynamics, while Electricite de France (EDF) bonds dropped 0.90% as the company approached a draft deal with Centrica to extend the Sizewell B nuclear plant for 20 years. Fairfax Financial Holdings bonds decreased 0.85% after converting $150 million in Orla Mining notes into equity, increasing investment risk exposure. Bond market news of the last week include a shift in market sentiment following President Trump’s decision to call off military strikes against Iran, which lowered oil prices and reduced expectations for rapid interest rate hikes, while European shares rose on hopes of a de-escalation in the Middle East. The World Bank’s Global Economic Prospects report warns that the conflict has triggered sharp energy price increases and renewed inflationary pressures, projecting global growth to slow to 2.5% in 2026. Meanwhile, Ashmore Investment Management notes that large equity offerings from Google and Meta, alongside the SpaceX IPO, have tightened liquidity and triggered a sell-off in an overextended market, while Erste Group highlights a delayed pass-through from elevated energy prices into regional inflation. 📥Find this and more in our Research Hub → https://cbonds.com/comments/

#cbondsnew 🆕🇲🇽 PCR Verum ratings are now available on Cbonds Cbonds continues to expand its coverage of local rating agencies. You can now view the credit ratings of the Mexican agency PCR Verum Calificadora de Valores on the website. What is new and interesting: 🟠222 credit ratings of PCR Verum are available 🟠The agency assigns ratings to companies from various industries: corporate issuers in the non-financial sector, financial institutions (e.g., banks and insurance companies), municipalities, and Mexican states ✅Examples of issuers assigned PCR Verum ratings: Grupo Elektra, Total Play Telecomunicaciones, Banco Actinver, Banco Multiva, La Latinoamericana Seguros, Seguros Argos, Ciudad Empalme, Estado De Nuevo Leon. ↗️Rating scale PCR Verum assigns ratings using a long-term rating scale ranging from "AAA" to "E". For example, Banco Actinver currently has a rating of "AA" with a stable outlook. Where can you find issuer ratings? "Bonds" menu ➡️ "Issuer Credit and ESG Ratings" section. 📍Additionally, credit ratings data on Cbonds is available on the issuer, bond, and stock pages.

#cbondsnew 🆕↗️Discount Margin and Estimated YTM are now available on Cbonds for FRNs using the Business Day Compound method Cbonds has expanded its analytics for floating-rate notes (FRNs) by adding Discount Margin and Estimated YTM calculations for securities that use the Business Day Compound averaging method. Business Day Compounding is applied to FRNs where the reference rate itself is an overnight risk-free rate. Under this coupon structure, interest is accrued through daily compounding on business days, meaning the final coupon rate becomes known only shortly before the payment date (in arrears). 📄Examples of reference rates calculated using this methodology include SOFR, ESTR, SONIA, and SARON. Discount Margin and Estimated YTM calculations are now available on the Cbonds website for all supported floating-rate instruments. The data can be found in the Bond Calculator section as well as in the corresponding analytics block at the top of the security page. Examples of securities with the new calculations available: 🔘Eurobond: Deutsche Bank (London Branch), FRN 19 Nov 2026, USD 🔘Bond: BPCE, FRN 20 Jan 2028, USD

#cbondsnew ✅New Version of the Cbonds Mobile App Is Now Available In this update, we have expanded the app’s functionality and made it even more convenient to use 👇 🔵 ETF support added to Watchlist. You can now track ETFs alongside other financial instruments in your Watchlist. 🟠 Enhanced calculator functionality. The calculator now allows you to estimate a security’s parameters based on a target yield, making analysis more flexible and efficient. 🔵 Updated filter design in search forms. Filters are now more intuitive and visually clear, enabling faster and more convenient search customization. 🟠 Various bug fixes and stability improvements. We've resolved a number of minor issues and enhanced overall app performance. 📲Download the app on the App Store and Google Play.

#cbondsnew 🆕 Preset filters in the Ratings search are now available on the Cbonds Website Preset filters for ratings from international and local rating agencies have been added in the "Credit and ESG Ratings" section on the Cbonds website. ❓What are preset filters for? Preset filters are necessary so that website users can obtain information on credit and ESG ratings from the rating agencies they are interested in, as well as on issuers from specific countries and regions of the world. ✔️What filters are available? 🟥Sovereign ratings M/S&P/F. This preset allows you to view ratings of various countries worldwide and their central banks, assi/Users/starostinaanna/Desktop/Фильтры по рейтингам_релиз_англ.pnggned by Moody’s Investors Service, S&P Global Ratings, and Fitch Ratings. 🟥Chinese agency ratings for foreign issuers. This filter allows users to view ratings from all Chinese agencies that have been assigned to non-Chinese companies. 🟥Indian issuer ratings. Using this filter, you can see the credit ratings of Indian issuers from international and local rating agencies. 🟥ESG ratings. You can use this filter to view ESG ratings of companies whose shares are listed on African exchanges. 🔎Where to find ratings? "Bonds" menu ➡️ "Credit and ESG Ratings" section. ✅Additionally, credit rating data is available on the pages of an issuer, bond, and stock.