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Gabon's military coup sparked the steepest daily drop in its dollar bonds on Wednesday since the height of the Covid-19 pandemic and came just weeks after the country carried out continental Africa's first debt-for-nature swap.
by Tyler Durden Tuesday, May 11, 2021 - 07:48 AM Yesterday was bad, but not too bad, and we titled our morning market wrap "Futures Flat As Soaring Commodities Depress Tech Stocks." 24 hours later it's much worse, as the rout that hammered US tech stocks on surging inflation fears (see "This Is Not Transitory": Hyperinflation Fears Are Soaring Across America") has now gone global, with markets in Asia and Europe hammered and S&P futures sliding 0.8%, while Nasdaq futures tumbled by another 1.3% after Monday's 2.6% rout. Treasuries were steady ahead of today's 3Y auction while the dollar era...