Eurozone ‘contagion’ erodes EM decoupling

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Eurozone ‘contagion’ erodes EM decoupling

Hopes that emerging market bonds could remain immune to the eurozone debt crisis were crushed this week as the sector plummeted and capital flooded out of funds dedicated to the region. The new issue pipeline was left in disarray, with sovereign spreads more than 50bp and some investors questioning the case for EM corporate debt.

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