EM investors fear bond ‘euphoria’ driven by ‘wrong reasons’

euro squeeze 230x150
By Lewis McLellan, Mariam Meskin, Oliver West
03 Jul 2019

It has been a sensational couple of weeks in emerging markets, with money flooding in and asset prices climbing ever higher, but the influx of new money is driving down yields further than some investors feel is justified.

“The backdrop is really remarkable just now,” said one emerging markets portfolio manager. “Things are rallying, cash is coming in but we’re struggling to find new and exciting names where we can deploy cash. Most of this week’s deals ended up tightening beyond where we were comfortable and ...

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