SSA market bounces back as investors reduce risk
Investors, skittish about the trajectory of monetary policy, are reducing their exposure to risks, according to Heartwood Investment Management. The move coincides with the return of public sector borrowers to capital markets, catering to pent-up demand from undersupplied investors.
“Central banks are likely to continue on (or begin) their journey of normalising monetary policy, which we believe is a scenario that financial markets are not yet fully pricing,” said Graham Bishop, investment director at Heartwood Investment Management in a research note.
Bishop believes that the prevailing
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