Egypt turmoil makes investors think again
The upheavals in Tunisia and Egypt over the past weeks have created a watershed for investors — with enthusiasm for emerging market credits becoming tempered by the rising political risk for both countries and the Middle East region as a whole.
The shift comes after a year of money pouring into emerging market bond funds, as investors eyed the attractive yields on offer and pointed to the lower levels of public debt compared with western European countries.
"Emerging markets may have learnt to reduce public and external debt, increase reserves
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