Republic of Venezuela VENZ 13 5/8 08/15/18 8.0 9.0 Republic of Venezuela VENZ 9 ¼ 09/15/27 8.0 9.0 Republic of Venezuela VENZ 7 3/4 10/13/19 7.0 8.0 Republic of Venezuela VENZ 6 12/09/20 7.0 8.0 Republic of Venezuela VENZ 12 3/4 08/23/22 8.0 9.0 Republic of Venezuela VENZ 9 05/07/23

 

WEEKLY NEWSLETTER 04 - 07th October 2022 * This material does not constitute "investment research" as defined by the rules of the Financial Conduct Authority. This material is not intended for Retail Clients * Details and listings for these and other assets are available on the IlliquidX Platform on www.illiquidx.com

Sovereigns

Venezuela London court gives Venezuela’s Maduro OK to appeal in gold case President Nicolas Maduro received permission to appeal a court ruling that denied the central bank board appointed by his government access to more than $1b in gold reserves deposited at the Bank of England, lawyers write in an email statement.   Caracas stock market to launch alternative market for funds In an exclusive interview with local media Banca y Negocios, President of the Caracas Stock Market (Bolsa de Valores de Caracas, BVC) Gustavo Pulido revealed the launching of an alternative market for investment funds. The stock would be traded separately to increase its capital and direct a bigger effort into the incorporation of small and mid-sized companies into the market.   The border between Venezuela and Colombia has been partially open already Colombian President, Gustavo Petro, participated in the event. On the Venezuelan side, The governor of Tachira, was the one who alongside Petro, officially reopened the Colombo-Venezuelan border.   Issuer Ticker Bid Ask Republic of Venezuela VENZ 13 5/8 08/15/18 8.0 9.0 Republic of Venezuela VENZ 9 ¼ 09/15/27 8.0 9.0 Republic of Venezuela VENZ 7 3/4 10/13/19 7.0 8.0 Republic of Venezuela VENZ 6 12/09/20 7.0 8.0 Republic of Venezuela VENZ 12 3/4 08/23/22 8.0 9.0 Republic of Venezuela VENZ 9 05/07/23 7.0 8.0 Republic of Venezuela VENZ 8 1/4 10/13/24 7.0 8.0 Republic of Venezuela VENZ 7.65 04/21/25 7.0 8.0 Republic of Venezuela VENZ 11 3/4 10/21/26 8.0 9.0 Republic of Venezuela VENZ 9 1/4 05/07/28 7.0 8.0 Republic of Venezuela VENZ 11.95 08/05/31 8.0 9.0 Republic of Venezuela VENZ 9 3/8 01/13/34 8.0 9.0 Republic of Venezuela VENZ 7 03/31/38 7.0 8.0 Republic of Venezuela ICSID Claims Call desk for Prices Petróleos de Venezuela SA PDVSA 8 1/2 10/27/20 14.0 18.0 Petróleos de Venezuela SA PDVSA 9 11/17/21 3.0 4.0 Petróleos de Venezuela SA PDVSA 12 3/4 02/17/22 3.0 4.0 Petróleos de Venezuela SA PDVSA 6 10/28/22 1.0 2.0 Petróleos de Venezuela SA PDVSA 6 05/16/24 2.0 3.0 Petróleos de Venezuela SA PDVSA 6 11/15/26 2.0 3.0 Petróleos de Venezuela SA PDVSA 5 3/8 04/12/27 2.0 3.0 Petróleos de Venezuela SA PDVSA 9 3/4 05/17/35 2.0 3.0 Petróleos de Venezuela SA PDVSA 5 1/2 04/12/37 2.0 3.0 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Argentina Argentina sold ARS6.3B of local debt in second round auction Argentina sold a total 6.3b pesos in local notes in a second-round debt auction, according to an emailed economy ministry statement. Around 5b pesos were received by 9 bidders.   Issuer Ticker Bid Ask REPUBLIC OF ARGENTINA ARGENT 4 5/8 01/11/23 37.4 38.3 REPUBLIC OF ARGENTINA ARGENT 5 7/8 01/11/28 37.4 38.3 REPUBLIC OF ARGENTINA ARGENT 1 07/09/29 18.9 19.9 REPUBLIC OF ARGENTINA ARGENT 0 1/2 07/09/29 21.3 23.7 REPUBLIC OF ARGENTINA ARGENT 0 1/2 07/09/30 19.7 20.8 REPUBLIC OF ARGENTINA ARGENT 0 1/8 07/09/30 18.5 19.7 REPUBLIC OF ARGENTINA ARGENT 8.28 12/31/33 37.4 38.3 REPUBLIC OF ARGENTINA ARGENT 8.28 12/31/33 37.4 38.2 REPUBLIC OF ARGENTINA ARGENT 0 7/8 07/09/35 16.5 18.4 REPUBLIC OF ARGENTINA ARGENT 1 1/2 07/09/35 17.6 19.0 REPUBLIC OF ARGENTINA ARGENT 3 7/8 01/09/38 23.4 24.1 REPUBLIC OF ARGENTINA ARGENT 2 1/2 12/31/38 37.4 38.3 REPUBLIC OF ARGENTINA ARGENT 3.38 12/31/38 30.1 32.4 REPUBLIC OF ARGENTINA ARGENT 3 3/4 12/31/38 37.4 38.3 REPUBLIC OF ARGENTINA ARGENT 2 1/2 12/31/38 46.1 49.7 REPUBLIC OF ARGENTINA ARGENT 3 3/4 12/31/38 46.1 49.7 REPUBLIC OF ARGENTINA ARGENT 3.38 12/31/38 25.3 29.2 REPUBLIC OF ARGENTINA ARGENT 0.67 12/31/38 14.5 25.6 REPUBLIC OF ARGENTINA ARGENT 2 1/2 12/31/38 46.1 49.7 REPUBLIC OF ARGENTINA ARGENT 3 1/2 07/09/41 21.4 22.2 REPUBLIC OF ARGENTINA ARGENT 2 3/4 07/09/41 20.2 22.9 REPUBLIC OF ARGENTINA ARGENT 1 1/2 07/09/46 18.4 19.2 REPUBLIC OF ARGENTINA ARGENT 0 7/8 07/09/46 19.9 20.6 REPUBLIC OF ARGENTINA ARGENT 6 7/8 01/11/48 37.4 38.3 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Ethiopia Ethiopia, Somalia to strengthen cooperation in economic sector The leaders of Ethiopia and Somalia on Wednesday signaled the neighbors will lay greater focus on economic ties in the coming future. Prime Minister Abiy Ahmed welcomed Somali President Hassan Sheikh Mahmoud on a two-day working visit to the capital Addis Ababa, his first trip to Ethiopia since taking office in May.   Ethiopian fuel prices hike Fuel prices in Ethiopia rose by about 20% (September 29), less than three months after a previous 30-40% hike, as part of the phasing out of government subsidies for petroleum products.   Issuer Ticker Bid Ask FEDERAL REP OF ETHIOPIA ETHOPI 6 5/8 12/11/24 49.5 52.1 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Lebanon Lebanon: Divided opposition fails to agree on presidential candidate Parliament’s opposition forces, represented by the Lebanese Forces, the Progressive Socialist Party (PSP), the Kataeb, the Change Movement and other independent deputies, have failed on Thursday to reach consensus over a unified candidate for the presidency.   Lebanon parliament passes 2022 budget that falls short of IMF reform Lebanon's parliament passed the 2022 budget on Monday using an exchange rate for customs tax revenues that lies far below the market value of the Lebanese pound, falling short of economic reform measures that would pave the way for an IMF deal.   Inflation soars in Lebanon amid IMF concerns hyperinflation in the country is growing for the 26th consecutive month, reaching 162%. The International Monetary Fund called on the Lebanese authorities to carry out critical structural and financial reforms, a prerequisite for obtaining $3 billion in assistance from the lender to help the country emerge from its worst economic crisis.    $18b deposited in Lebanese banks by Iraqi politicians, gov’t agencies has ‘evaporated’ More than $18 billion belonging to Iraqi politicians, the Iraqi government, and the Kurdistan Regional Government of Iraq have “evaporated” due to the banking crisis in Lebanon.   Lebanon’s central bank extends ceiling free dollars purchases until end of October Lebanon’s central bank on Friday extended a circular allowing banks to purchase an unlimited amount of US dollars on its Sayrafa exchange platform until the end of October   Lebanon will gradually phase in new official FX rate, PM says Lebanon will roll out a new official exchange rate of 15,000 pounds per dollar gradually, with initial exceptions to include banks' balance sheets and housing loan repayments to which the old rate will still apply   Lebanon in move to re-peg its currency for first time in 25 years Lebanon plans to re-peg its currency for the first time in 25 years, slashing its value against the dollar, in an effort that will meet the IMF’s demand that the peg moves closer to the black-market value and help restore confidence in the financial system.   Lebanese, Israeli tensions over gas extraction at border raise strategic questions Tensions between Iranian-backed Hezbollah in Lebanon and Israel appear to be on the rise over a gas-rich, sea-border territory between the two countries, with leaders on both sides threatening harsh retaliation and severe consequences if either side makes a move.   Issuer Ticker Bid Ask LEBANESE REPUBLIC LEBAN 6 3/8 03/09/20 5.8 6.7 LEBANESE REPUBLIC LEBAN 5.8 04/14/20 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.15 06/19/20 5.9 6.6 LEBANESE REPUBLIC LEBAN 6 1/4 05/27/22 6.0 6.7 LEBANESE REPUBLIC LEBAN 6.1 10/04/22 5.9 6.7 LEBANESE REPUBLIC LEBAN 6 01/27/23 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.4 05/26/23 5.9 6.7 LEBANESE REPUBLIC LEBAN 6.65 04/22/24 5.9 6.6 LEBANESE REPUBLIC LEBAN 6 1/4 11/04/24 5.9 6.6 LEBANESE REPUBLIC LEBAN 7 12/03/24 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.2 02/26/25 5.9 6.6 LEBANESE REPUBLIC LEBAN 6 1/4 06/12/25 5.9 6.7 LEBANESE REPUBLIC LEBAN 6.6 11/27/26 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.85 03/23/27 5.9 6.7 LEBANESE REPUBLIC LEBAN 6 3/4 11/29/27 5.9 6.6 LEBANESE REPUBLIC LEBAN 7 03/20/28 5.8 6.5 LEBANESE REPUBLIC LEBAN 6.65 11/03/28 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.85 05/25/29 5.9 6.6 LEBANESE REPUBLIC LEBAN 6.65 02/26/30 5.9 6.7 LEBANESE REPUBLIC LEBAN 7 04/22/31 5.8 6.5 LEBANESE REPUBLIC LEBAN 7.15 11/20/31 5.8 6.5 LEBANESE REPUBLIC LEBAN 7 03/23/32 5.9 6.6 LEBANESE REPUBLIC LEBAN 8.2 05/17/33 5.7 6.5 LEBANESE REPUBLIC LEBAN 8 1/4 05/17/34 5.7 6.5 LEBANESE REPUBLIC LEBAN 7.05 11/02/35 5.9 6.6 LEBANESE REPUBLIC LEBAN 7 1/4 03/23/37 5.9 6.7 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Sri Lanka Sri Lanka T-bond yields steady amid active tradi