All Emerging Market Debt articles – Page 8
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Asset Class Reports
Emerging Market Debt: Grade deflation
Take out the 2008-09 crisis, and the past 18 months have seen emerging market credit rating downgrades outnumber upgrades for the first time in over a decade. Joseph Mariathasan asks if the loss of momentum in ratings convergence is a sign of weakening fundamentals or a return to old prejudices
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Asset Class Reports
Emerging Market Debt: Default judgement
The US Supreme Court judgement that led to Argentina’s eighth debt default is an alarming precedent for both emerging and developed sovereigns, argues Rani Mina
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Asset Class Reports
Emerging Market Debt: Carry through the crises
Navigating the switch from fundamentals-driven volatility to carry-driven calm in 2013-14 has been a challenge for emerging market debt managers, Martin Steward writes. The eruption of political crises simply adds to the complexity
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Asset Class Reports
Emerging Market Debt: Bonds and the ballot box
Amid a rash of important elections, the rumble of ongoing territorial disputes, a deteriorating situation in coup-plagued Thailand and an alarming rise in tensions between Hong Kong and Beijing, Joseph Mariathasan looks into the impact of political risk on Asia’s bond markets
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News
Mandate roundup: IPE-Quest, Pension Protection Fund
Danish pension fund tenders €100m GEM debt mandate using IPE-Quest
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Asset Class Reports
Emerging Market Debt: Re-calibrating risk
Early summer saw volatility back in global markets, and nowhere more so than local currency emerging market debt. Joseph Mariathasan dampens out the noise and re-assesses the underlying fundamental arguments for the asset class
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Asset Class Reports
Emerging Market Debt: Missing linkers
Emerging-market inflation-linked bonds are entering a new era. Martin Steward asks how they might fit into European institutional investors’ portfolios
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Asset Class Reports
Emerging Market Debt: Throwing light on the shadows
Joseph Mariathasan looks at the little-understood world of Chinese SME non-bank financing, which is fast on its way to becoming one of the world’s most important debt markets
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Asset Class Reports
Emerging Market Debt: The great correlation
Emerging market debt has been driven by Fed policy more than fundamentals
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Asset Class Reports
Emerging Market Debt: Corporate issues
How will emerging market corporate debt fare through the first real challenge since it became a genuinely mainstream asset class? Federico Carballo and Florence Duculot offer their prognosis
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Asset Class Reports
Emerging Market Debt: Why liquidity matters
Lorenzo Naranjo offers a case study of the Chilean corporate bond market to show how difficult pricing can be in illiquid markets, and tenders a solution
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Asset Class Reports
Emerging Market Debt: Blurring the lines
Many emerging market credits look better than most in the developed world. But Joseph Mariathasan finds that progress towards approaching global sovereign debt as a single asset class has been slow
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Asset Class Reports
Emerging Market Debt: The real issue
Do negative real rates in inflating economies make a case for taking emerging currency exposure without the bond duration? Joseph Mariathasan finds a complex picture
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Asset Class Reports
Emerging Market Debt: Sorting though the ‘stuff’
In an asset class dominated by top-down commentary, Martin Steward finds bottom-up alpha defining performance
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Asset Class Reports
Emerging Market Debt: Beyond Brazil
Martin Steward talks with Jorge Unda of BBVA Asset Management, who warns that Latin America’s biggest economy is heading in the wrong direction if it wants to keep up with its more successful neighbours
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Asset Class Reports
Emerging Market Debt: Ugly duckling no more
Emerging market debt is a fast-maturing asset class that is converging with the global bond universe. But Joseph Mariathasan finds managers struggling to break out of top-down country-risk constraints
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Asset Class Reports
Emerging Market Debt: Perfect timing?
Peter Marber re-explores averaging strategies for entry into emerging markets
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Asset Class Reports
Emerging Market Debt: Going multi-asset
First it was equity, then bonds – and most recently investors have been exploring emerging market currencies. Martin Steward asks if it pays to bring the three together
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Asset Class Reports
Emerging Market Debt: Localising, globalising
Joseph Mariathasan finds that fast developing emerging debt markets present opportunities for risk-taking and challenges for benchmarking and performance measurement
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Asset Class Reports
Emerging Market Debt: What role do indices play?
The key sub-components of the emerging market debt (EMD) are the original hard currency sovereign debt, followed now by local currency sovereign debt and, increasingly, hard currency corporate debt. At some stage local currency corporate debt may also come to have significant size. There are two questions that need to ...